EdAhead is a revolutionary program started by D&B Credibility Corp. designed to stress the importance of education for the future of America’s business success. In uniting employees and employers in activating college savings and improving local schools, EdAhead is an investment in student futures for personal success, community well being, and global prosperity.
The EdAhead program is a welcome bridge between saving today for education tomorrow. And it’s not just for parents. Any employee can be a steward of a child’s educational opportunity. We encourage any and every company to join our commitment to the importance of education to a shared future of leadership and strength.
EdAhead functions around a 529 education plan, but with a few unique twists: We made it a defined contribution plan, i.e. employee contributions are matched by employers, to a predetermined amount. At the end of the year, employee contributions activate a second aggregate per office match based on the matched amount of each employee’s contribution. That per office match is then donated to the local public school system where that office operates. For example, if a business has offices in both Texas and South Carolina, a local school in both states would receive funds based on the matched amount employees in each office contributed to their 529 funds.
Due to government restrictions, funds that employees contribute are after tax, but the company will be adding to the employer matched portion an additional amount to help offset these taxes. In the future, we hope the government will recognize the importance of programs that support our education future and make these contributions tax-exempt.
It truly is the education savings program for employees who want to make a difference — and companies that know they can.