ScholarShare College Savings Plan

Through CAPE payroll deduction, CAPE members can save for a child's college education through the ScholarShare College Savings Plan (See "How Will you Pay For College" flyer PDF). The ScholarShare College Savings Plan is California's tax advantaged 529 plan which offers a method of saving for college with earnings tax-deferred and qualified withdrawals free from federal and California state income taxes. Funds can be used at thousands of institutions nationwide, as well as some schools overseas, and can be used for tuition and qualified expenses such as books, supplies, required fees, and certain room and board expenses.

ScholarShare offers a wide range of investment options including age-based portfolios that invest in actively managed underlying funds and if your child decides not to attend, the funds can be transferred to another family member of the beneficiary, including yourself. The minimum contribution through payroll deduction is $15.00, plus a low monthly administration fee of $0.50 per account. For more information, visit the ScholarShare website at www.scholarshare.com. To start an account and your CAPE payroll deduction (See "How Do I get Started?" flyer PDF), request Enrollment Material on the website or by calling toll-free 1-800-544-5248. Enrollment forms must be returned to the CAPE Benefits Department for payroll deduction.