EDUCATIONAL ASSISTANCE PROGRAMS
01.Core Concepts
• Pays expenses incurred by the employee for education or where education is provided by the employer • Education does not have to be job related or part of a degree program. • Education involving sports, games, or hobbies is generally excluded. • Maximum $5,250 per calendar year Impact on Retirement Planning • Employees nearing retirement but not quite financially prepared to retire can take advantage of educational assistance to keep knowledge up to date and secure their position in the workforce until they are ready to retire on their own terms • Benefits can be extended to retirees • Opportunity to engage in lifelong learning and increase satisfaction in retirement