Products December 6, 2003

ADP Unveils Payroll Deduct for 529 Plans

June 24, 2002 (PLANSPONSOR.com) - Automatic Data Processing (ADP) will soon make it easier for some participants to save into a 529 college-saving program through payroll deduction.
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ADP’s Employer Services division, a payroll-services, benefits administration and human resources systems provider, is piloting the new program with its current payroll clients as well as with the CollegeBoundfund 529 plan in certain areas.

The company said in an announcement that it plans to make the program available nationally in September.

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In early fall, ADP also intends to introduce its ADP 529 Partners Program. Through this initiative, ADP will extend its payroll-deduction program to other financial institutions that are 529 providers/administrators. ADP said that would allow its 500,000 payroll clients easier access to 529 plans.
 
For more information about ADP’s payroll deduction program visit the company’s Web site .

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