Highway Benefits - 3x3x3 Challenge With Billy Knutsen
Highway is a third party provider of Section 127 education benefits: Student Loan Repayment and Tuition Reimbursement
Transcription:
What is Highway Benefits?
Highway Benefits is a third-party benefits administrator that helps companies set up 127 plans. As of 2020, the CARES Act expanded Section 127 to allow companies to contribute up to $5,250 directly and tax free into their employees student loans. Highway helps set up and administer this benefit by handling the transaction, the verification, and the compliance associated with these contributions.
How is Highway Benefits different?
Highway allows companies to build 127 plans to meet their budget and talent goals. We specialize in helping companies understand what they are trying to achieve with this benefit and then build a tailored plan to meet those objectives. This can include tenure-based requirements or a plan that increases the amount of contributions based off of years of employment at the company. After we go through our launch period, which we like to allocate two weeks for, operating this benefit requires no additional work from your HR team. Through our integration with every single student loan provider, your employees connect their loans to our platform, and then we move money on a tax free and multi basis directly into those loans. We offer the most competitive pricing in the market, and we can work with a team of any size. Whether you are five people or 5,000 plus, our technology and process can help you administer this benefit.
Who is a good fit for Highway Benefits?
Highway is a good fit for any company looking to drive retention and stand out in recruiting. In the United States, there is over $1.7 trillion of outstanding student debt across 45 million Americans. The average student debt per employee is $38,000, which leads to significant financial stress and a loss of productivity in the workplace. In an average company, we estimate around 30% of an employee population will have student debt, but we have seen that be much higher in companies in tech, healthcare, and engineering industries, employment that requires a high level of education. This benefit is the most effective way to compensate employees and help them address one of their biggest personal stressors and financial challenges. To learn more, please reach out to me at billy@highwaybenefits.com.
Benefit Professionals... Here are three links you might find helpful!
Subscribe to our weekly email newsletter:
https://pages.benefitsally.com/subscribe
Subscribe to our YouTube channel:
https://pages.benefitsally.com/youtube
Participate in the 3x3x3 Challenge:
https://pages.benefitsally.com/3x3x3
Transcription:
What is Highway Benefits?
Highway Benefits is a third-party benefits administrator that helps companies set up 127 plans. As of 2020, the CARES Act expanded Section 127 to allow companies to contribute up to $5,250 directly and tax free into their employees student loans. Highway helps set up and administer this benefit by handling the transaction, the verification, and the compliance associated with these contributions.
How is Highway Benefits different?
Highway allows companies to build 127 plans to meet their budget and talent goals. We specialize in helping companies understand what they are trying to achieve with this benefit and then build a tailored plan to meet those objectives. This can include tenure-based requirements or a plan that increases the amount of contributions based off of years of employment at the company. After we go through our launch period, which we like to allocate two weeks for, operating this benefit requires no additional work from your HR team. Through our integration with every single student loan provider, your employees connect their loans to our platform, and then we move money on a tax free and multi basis directly into those loans. We offer the most competitive pricing in the market, and we can work with a team of any size. Whether you are five people or 5,000 plus, our technology and process can help you administer this benefit.
Who is a good fit for Highway Benefits?
Highway is a good fit for any company looking to drive retention and stand out in recruiting. In the United States, there is over $1.7 trillion of outstanding student debt across 45 million Americans. The average student debt per employee is $38,000, which leads to significant financial stress and a loss of productivity in the workplace. In an average company, we estimate around 30% of an employee population will have student debt, but we have seen that be much higher in companies in tech, healthcare, and engineering industries, employment that requires a high level of education. This benefit is the most effective way to compensate employees and help them address one of their biggest personal stressors and financial challenges. To learn more, please reach out to me at billy@highwaybenefits.com.
Benefit Professionals... Here are three links you might find helpful!
Subscribe to our weekly email newsletter:
https://pages.benefitsally.com/subscribe
Subscribe to our YouTube channel:
https://pages.benefitsally.com/youtube
Participate in the 3x3x3 Challenge:
https://pages.benefitsally.com/3x3x3