An Essential Benefit for Your Entire Workforce
Why It’s Essential
Loans taken out by parents for their children’s education
Impacts All Employees
Zero Touch For HR
No payroll integration, paperwork or administrative burden to implement.
Mobile Friendly Platform
Easy to use application makes signup easy for employees.
Friends & Family Gifting
Loved ones have the opportunity to invest in education expenses.
Average monthly gifts & cashback received
Employees contributing monthly
How It Works
1. Easy Rollout
2. Electronic Signup
Employees self-enroll through a signup link or the employer’s benefits administration platform.
3. Trusted Tech
SavvyFi’s tech auto-opens a 529 account with Vanguard® investment funds.
4. Advanced Features
Frequently Asked Questions
Who is SavvyFi?
SavvyFi is a digital investment adviser registered with the Securities and Exchange Commission.
Our innovative technology makes it hassle-free and inexpensive for employers to offer college savings and student debt repayment benefits to their entire workforce.
How Does SavvyFi Work?
- Employees sign up during open enrollment – All employees need to complete signup is their work email address, basic information about themselves, information about who they are saving for, and their bank account.
- A 529 account is automatically opened – Once employees input their information online, a 529 account is automatically opened.
- Employees make contributions – Employees can make contributions from their own bank accounts, or they can use SavvyFi’s gifting and cashback rewards features to save without using their own income. All contributions are automatically invested in an age-based investment option provided by Vanguard®.
What is an age-based investment?
An age-based investment automatically selects and manages investments based on the age of the employee’s “beneficiary” (i.e., who they are saving for). All contributions will be invested in an age-based option provided by Vanguard®.
What is a 529 Account?
A 529 account, which is the underlying financial account offered through SavvyFi, offers tax benefits when used to save and invest for K-12 tuition, college costs, and student loans.
For more information on 529 plans, see our page What is a 529?
Who Can Open a 529 Account?
Your employees with student debt can even open an account for themselves and use SavvyFi’s cashback rewards feature to pay down their debt more quickly.
How Does SavvyFi's Cashback Rewards Feature Work?
Employees who shop online, make purchases in-store or book travel through SavvyFi’s cashback rewards program can earn up to 30% of their purchase in cashback to their 529 account.
Our cashback program covers 10,000+ merchants including major brands such as Target®, Home Depot® and Walmart®. You can also earn with local merchants such as your neighborhood pizza shop.
How do my employees sign up?
Employees self-enroll online with any device by clicking a signup link that can be distributed to employees through email or their benefits administration system.
How much does SavvyFi’s employee benefit cost?
HOW MUCH ADMINISTRATION IS INVOLVED FOR EMPLOYERS?
How Is An Account Funded?
Does SavvyFi Have a Mobile App?
No app needed! Your employees don’t have to download yet another app onto their phone because SavvyFi is web-based. No matter the device, either desktop or cellphone, our platform offers the same great user experience.
If you have additional questions about SavvyFi or just want to speak to one of our representatives, please fill in your information below and someone will get back with you shortly.