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Payroll Deduction

For Employees
If your employer participates in our payroll deduction program, you can set up regular, automated contributions from your paycheck into a Pennsylvania College Savings Program. The minimum you can contribute through payroll deduction is $15 per pay period, per account.

Here's how to establish payroll deduction:

If you already have a PA 529 College Savings account:
Sign up online (GSP | IP) or download and complete an Employee Payroll Deduction Form (GSP | IP).

If you do not already have a PA 529 College Savings account:
Open an account. Be sure to indicate that you would like to establish payroll deduction and provide the necessary information.
If you're signing up by paper form, mail the completed form to the Investment Plan at the address on the 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.

For Employers
If you're an employer, you have a great opportunity to help your employees save for their children's college education. Through our payroll deduction program, employees can contribute as little as $15 per pay period, per account, and there is no charge to set up the program. This convenient contribution method allows employees to invest without hassle, while taking advantage of the following benefits:

An easy way to help employees meet their college savings goals.
Higher education is getting more expensive every year. Payroll deduction can help your employees save even more.
The chance to add to their college savings. Employees can join Upromise® Rewards for free and get back a percentage of their qualified spending with hundreds of America's leading companies. This money can then be transferred periodically to their PA 529 College Savings account, subject to a $25 transfer minimum.
Convenient online account access. With the PA 529 College Savings Program's enhanced online services, employees can open and manage their accounts anytime, day or night.

If you'd like more information about our payroll deduction program, call
1-800-440-4000.

The guarantee is that, when used for qualified higher education expenses, your contributions will grow at the rate of tuition inflation at a Tuition Level that you choose. If the applicable GSP Credit Rate at the time a contribution is made has a premium, however, your rate of growth will be lower than the actual rate of tuition inflation at your Tuition Level by approximately the rate of the premium. Premiums do not, however, alter the way in which the dollar value of your account is determined. When used for qualified higher education expenses, each GSP Credit will still have the full value of the actual per credit tuition cost. The guarantee is an obligation of the Pennsylvania GSP Fund only. The guarantee is not backed by the full faith and credit of the Commonwealth of Pennsylvania, and is not an obligation of the Commonwealth of Pennsylvania, the Pennsylvania Treasury Department, Upromise Investments, Inc., Upromise Investment Advisors, LLC, or any other party. The GSP is not insured by the Federal Deposit Insurance Corporation or any other government agency.

For more information about the Pennsylvania College Savings Program—529 Investment Plan, download a Disclosure Statement or request one by calling 1-800-440-4000. Investment objectives, risks, charges, expenses, and other important information are included in the Disclosure Statement; read and consider it carefully before investing. The Pennsylvania Treasury Department serves as Distributor and Underwriter. If you are not a Pennsylvania taxpayer, consider before investing whether your or the designated beneficiary’s home state offers any state tax or other benefits that are only available for investments in such state’s qualified tuition program.