529 plan advice service

Plan overview

ScholarShare 529 is a State of California program, run by the ScholarShare Investment Board and through the State Treasurer’s Office.    

The Board sets investment policies and oversees all activities of the plan, which enables participants to save for college by putting money in tax-advantaged investments. After-tax contributions allow earnings to grow tax-deferred, and disbursements, when used for tuition and other qualified expenses are tax-free. ScholarShare 529 is managed by TIAA-CREF Tuition Financing, Inc.  

The ScholarShare 529 plan is a great vehicle for faculty and staff to save and invest in their own or any child’s future school, college, or university costs, including room and board, fees, and other expenses. Deposits to the education savings account are made by direct deposit from your paycheck in Workday.  
 
 
USC’s concierge advice service is administered by TIAA, whose representatives will advise and assist faculty and staff. The representatives have both virtual and in-person appointments available in English and Spanish.   

Eligibility for plan and concierge service

All employees are eligible to open the plan and to use the free concierge advice service. 

How to get advice and enroll  

To get advice

TIAA financial consultants cannot open accounts on behalf of faculty and staff but can advise on opening an account and contributing to it. To get concierge advice, schedule an appointment at the ScholarShare 529 appointments page. 

To enroll

1. Open a ScholarShare 529 account by following the steps on the ScholarShare 529 website, ensuring you use the code USC529 when requested. 
2. Allocate a direct deposit amount to your ScholarShare529 account: 
   • Log in to your account at ScholarShare529.com.  
   • Go to the “Profile & Documents” section on the home screen and select “Payroll Direct Deposit,” then “Change Payroll Instructions.”  
   • Enter the contribution dollar amount per pay period and beneficiary if you have multiple ScholarShare 529 accounts.  
   • Select “Next.”  
   • View or print the payroll direct deposit instructions by selecting “Get Form.”  
   • Use information from your ScholarShare 529 form to add a new payroll direct deposit in Workday. To get step-by-step instructions for setting up a direct deposit in Workday, refer to the quick guide for setting up a direct deposit, and use this ScholarShare 529 account information: 

Note: If you are funding more than one ScholarShare 529 account through payroll direct deposit, only add one payroll deduction in the total amount of all ScholarShare 529 account contributions for each pay period. Example: You have two ScholarShare 529 accounts that you indicated will each receive $25 per paycheck. In Workday, list one deduction for $50. Your first contribution will take effect in the next pay period following the direct deposit addition in Workday. 

Resources 

More information about the ScholarShare 529 plan, including informational videos, is on the ScholarShare 529 website.