Start a 529 savings plan with Gusto

Gradvisor makes it easy for employers to extend college savings plans to their employees and help families be prepared for their first tuition bill. With their turnkey platform, they offer personalized, professional guidance to help employees select, open and track the best college savings plan for their needs.

Gusto partners with Gradvisor to provide low-cost college savings plans that fully integrate with payroll. With Gradvisor and Gusto integration:

Set up a 529 savings plan

Looking to transfer an existing 529 plan? Transferring isn't currently supported, but employees (and their beneficiaries) are allowed to have more than one 529 in their name if you choose to start offering a new plan with Gradvisor. 

Follow the steps below to set up a new 529 savings plan for your team.

  1. Sign in to your Gusto admin account. 
  2. Head to the Benefits section.
  3. Scroll to "Financial Health" and click Show more financial health benefits.
  4. Click 529 College Savings.
  5. Learn more about our partnership with Gradvisor. When you're ready to set up a plan, click Get Started.
    • You'll be taken to Gradvisor's website to set up your plan.
  6. Click Get Started with Gusto.
  7. Select Authorize to allow Gradvisor to access your Gusto account.
  8. On the Gradvisor website, answer all the setup questions including contact info, billing info, and company matching. You can also set up a time to chat with a Gradvisor advisor.


529 contributions are post-tax but earnings are tax-free. Any employer match is considered imputed pay, which is taxable as income. Gusto automatically records company contributions on employee tax forms.

When payroll deductions begin

If your company sets up your 529 with an employer match, Gradvisor will schedule a call with you before payroll deductions begin. 

If your company did not set up the benefit with an employer match, the benefits can begin with a business day, depending on your pay schedule.  

When payroll deductions are reflected in Gradvisor 

Employees can sign in to Gradvisor to view and manage their plan. Contributions may not always show up in Gradvisor right away, depending on when in the month the payroll deductions were taken. Gradvisor runs a monthly reconciliation in the first week of the following month. 

Minimum contributions 

Many Gradvisor plans have a $25 monthly minimum contribution. If an employee elects less than this amount in Gusto, they'll still be deducted the minimum amount per your plan terms. Sign in to Gradvisor or call them directly for your plan's specific terms. 

Company billing

Gradvisor debits your company's chosen bank account for their monthly fee on the 1st of each month. This does not have to be the same bank account you use for contributions or with Gusto—sign in to Gradvisor to make any changes. 

Closing your account

If your company Gusto account is suspended, Gradvisor will no longer receive payroll data from Gusto. To close your Gradvisor account, reach out to Gradvisor directly. 

Dismissed employees

A dismissed employee can still access their 529 funds by signing in to Gradvisor.

Still need help? 

Chat with Gradvisor or call them at (866) 461-4770 between 8:30am and 6pm ET.