How can I make regular, automatic contributions? (Payroll deduction & AIP)
Saving is most powerful and productive when done early and often. Saving also works best when it's easy – and the PA 529 offers two ways to automate your college savings so you never miss a beat: an automatic investment plan (AIP) and payroll deduction.
Automatic Investment Plan – Automatic investing lets you choose to have contributions deducted automatically and regularly from a savings or checking account. It's an easy way to save slowly and steadily, without having to write and mail a check every month.
Start your AIP with $15 a month for a PA 529 GSP account or $25 for a PA 529 IP account or more if it's manageable for your budget. Remember to review your account regularly and reconsider the contribution amount if family financial circumstances change.
Use the Automatic Investment Plan/Electronic Bank Transfer Form to start, change or stop automatic bank transfers or to change bank information. If you already have a PA 529 account, you can establish an AIP online (GSP | IP).
Payroll Deduction – Many employers let you set up a payroll deduction into your PA 529 account. This is a great way to save by having a pre-arranged amount deducted from your paycheck (after taxes) and deposited into your PA 529 account. You can have as little as $15 per paycheck deducted.
If you already have a PA 529 account, you can sign up online (GSP | IP) or download and complete a Payroll Deduction Instruction Form. After we process your information, you will receive a confirmation statement, which you must sign and submit to your employer's payroll department. Once your employer receives your confirmation statement, they can begin making payroll deductions.
If you're opening a new PA 529 account, be sure to indicate that you would like to establish payroll deduction and provide the necessary information.
If your employer does not offer a PA 529 payroll deduction, please contact our customer service staff at 1-800-440-4000 for information on how your workplace can start.
- Who may contribute to a PA 529 account?
- How much can I contribute to the account?
- How do I send in money?
- How can I make regular, automatic contributions? (Payroll deduction & AIP)
- How do I roll over another 529 account into my PA 529 account?
- I have a UTMA/UGMA account. Can I roll over the funds into my child's PA 529 account?
- How often can I roll over my account?
- I have a 529 account in another state. What are the tax implications if I roll it over to a PA 529 account?
- Can I convert my Savings Bonds into tax-free college savings?
- How do I roll a Savings Bond into my PA 529 account as a tax-deferred event?
- How do I roll over a Coverdell ESA to a PA 529 account?