BenefitEd—a joint venture between Ameritas and Nelnet—is offering Tuition Reimbursement program administration to companies of all sizes as part of their comprehensive suite of educational benefits programs to help employers recruit and retain employees.
Many employers offer Tuition Reimbursement benefits to help employees pay for continuing their education. BenefitEd will make this benefit even easier for employers by acting as a third-party administrator to support the program, freeing up more time for staff to spend elsewhere. “As a provider of tuition assistance and student loan benefits, we will be able to assist employers with all Sec 127 tax-preference benefits,” said Michael Riordan, CEO of BenefitEd.
BenefitEd’s Tuition Reimbursement program is built to save employers time and money. This program is customizable to meet each employer’s needs, and works seamlessly with the rest of BenefitEd’s suite of products. Employers will have an assigned account manager and support team to help at every step of the way, as well as a user-friendly administrative platform that easily tracks program participation and outcomes. Riordan added, “BenefitEd will serve clients of all sizes in all industries. There is a perception that third-party administration of tuition benefits is only for certain sized employers. BenefitEd can bring value to all employers.”
This program will help employees by allowing them to further their education without taking out loans and encouraging them to reach their educational and financial goals. Employers can choose their own criteria to determine which employees are eligible.
BenefitEd will work with employers to identify which employees are eligible and help customize the right benefits package. They will also help onboard employees, educating them on how reimbursements will be made, and provide monthly reports to help employers keep track of program activity and employee retention impact.
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