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Board authorizes adding iSAVE 529 payroll deduction as employee benefit
Summary
Johnson County HR presented iSAVE (Iowa 529) as a voluntary employee benefit; board authorized HR to offer payroll-deduction enrollment with no county cost.
Lindsay Jones, the county’s human-resources director, asked supervisors to add the iSAVE 529 college-savings plan to the county benefit package. Jones described iSAVE as an Iowa plan administered by the state treasurer that allows employees or other designated beneficiaries to accumulate higher-education savings with federal tax deferral and, for qualified withdrawals, federal tax-free treatment.
Jones said the county would incur no cost to add the option; enrollment would be voluntary and payroll deductions could start at a minimum of $15 per pay period. She described two investment choices: a self-directed option and an age-based option that automatically adjusts allocations as the beneficiary approaches college age. The plan can be used at institutions in the U.S. and abroad and for apprenticeships, trade schools and graduate programs; she also noted that, for Iowa taxpayers, up to $10,000 per year may be used for K–12 tuition under certain rules.
Board members asked clarifying questions about whether the county would match contributions and whether Workday (the county’s HR/payroll system) could handle deductions. Jones said the county would not match contributions and that payroll integration had been tested. Jones also said a state representative (Randi Volquiza) was available to help with employee outreach and that the state offered flexible hours for remote information sessions.
When the chair asked if there was any objection to authorizing HR to proceed with offering iSAVE, no supervisors objected and staff said they would add it to the benefits offering.
