|
Why Wouldn't You provide each employee with 500 SAGE Scholarship Tuition Reward Points and then increase the scholarship by thousands each year if it didn't cost the Company anything? Every reward point is a $1 reduction in tuition at a participating college.
Wouldn't You Prefer to Work for an employer who provided the children and grandchildren of its employees with a college scholarship?
The answer to these questions must be yes. Over 130,000 children and their families enjoy SAGE Scholarship awards that cost employers nothing and are honored by over 210 private colleges and universities across the nation.
The College Tuition Benefit, CTB
Through CTB an employer can provide college funded, college tuition scholarships. At the same time the employer offers or continues to offer, Life, Disability, Cancer, Accident and other Worksite Benefits. If you already offer voluntary benefits why not upgrade to The College Tuition Benefit?
Highlights of the College Tuition Benefit are:
- Each employee is registered to receive 500 SAGE Scholarship Tuition Reward Points; married employees can receive 1,000.
- An annual increase in the scholarship fund equal to 5% of the employees 401k or 403b balance.
- Voluntary and Worksite Benefits from the nations largest providers.
- Employees are enrolled in the voluntary benefits offered by the employer, at the same time their children are enrolled in the scholarship program.
- Increased participation in the 401k/403b plan.
- Reduced borrowing from the 401k/403b plan.
Note that CTB does not change your 401k/403b plan in any way. Investments are not altered or reallocated.
To illustrate how the program helps pay for a child or grandchild's college education; assume a 12-year old in a family where the employee has $50,000 in the company 401k, assume an annual contribution of $2,000 into the 401k plan and a hypothetical 7% investment return.
(Monies in a 401k do not have a guaranteed return and can actually lose value)
|
Age
|
401k Balance
|
5% Reward
|
SAGE Scholar Balance (balance does not accrue interest)
|
| Reward for registering a child |
500
|
|
12
|
$50,000
|
2,500
|
3,000
|
|
13
|
$55,500
|
2,775
|
5,775
|
|
14
|
$61,385
|
3,069
|
8,844
|
|
15
|
$67,682
|
3,384
|
12,228
|
|
16
|
$74,420
|
3,721
|
15,949
|
|
17
|
$81,629
|
4,081
|
20,030
|
If you would like to email this site to your Human Resource Department, click the link on the left.
|
