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COVID-19 TAX RELIEF FOR 2020

Until Dec. 31, 2020, the CARES Act allows employers to contribute up to $5,250 to an employee's student loan debt while reducing their payroll tax up to $400 per year  

Employers, add FREE college scholarships and tuition discounts to your benefits now!

Employers trying to recruit and retain quality employees have realized that a major concern for their workforce is the cost of higher education for their family and themselves.  We have multiple solutions that can help alleviate those concerns and create loyal employees.

$93 Million

Amount of scholarships awarded in 2019

Call us! 215-948-2684

Program Components

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Guaranteed Scholarship Credits

5% Yearly Match of Your Retirement Plan for College Scholarships

By implementing this FREE program, all employees will receive yearly credits equivalent to a 5% match of their retirement plan.  One credit is equal to $1 of college tuition for family members that are registered in the program.  These credits can be used at any of the 400+ colleges that participate for up to one full year of tuition.

 

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Tuition Reimbursement for Ongoing Education

20% to 30% Reduction of Education Reimbursement Expenses

 

By engaging this FREE program, a commitment is made to enroll the top schools your employees are receiving their advanced education from in order to reduce the tuition cost by 20% to 30%.  This can either save your employee or your company from the cost of the tuition.

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Debt Repayment Assistance

FinTech Designed to Reduce the Heavy Burden of Student Debt

 

Student Debt Financial Health and Wellness is at the core of employer-sponsored benefits packages. It’s the new normal.  This technology simplifies the management of the loans in one place, reduces the life and interest of the loans, sweeps spare change and utilizes employer contributions towards loans and provides educational content for your employee

How Does This Work

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Implementation

There are a variety of ways and methods to implement this on a cost free basis to the employer.  How this gets done depends upon your organization's unique situation and structure. We have seen a combination of strategies utilized.  Regardless of how this gets done, the main objective is to provide these valuable benefits to your employees with minimal disruption to the employees' schedule and minimal effort on the administrators in your company.

To find out how to provide this to your employees at no cost, contact us.

Program Benefits

Attract and retain top talent by addressing the #1 financial concern of our next gen workforce: student debt

Reduce employees' concern of how to pay for their children and/or family members' college tuition

Statistically shown to increase your retirement plan participation by 13%

Improve education and appreciation for the benefits you already provide

Reduce the tuition reimbursement rate by 20% to 30%

It is FREE to the employer while providing a solution for one of the biggest financial concerns: college tuition

WHAT OUR CLIENTS THINK

“I have an 8th and 10th grader. I want this 5% match now so I can maximize my SAGE Scholarships before my oldest goes to college.” 

- Jason, Corry Hospital

Corry, PA

“I can’t say enough about the SAGE Scholarship Program. Our Doctors and Nurses especially love it. We would never discontinue it.”

- Scott, Cancer Treatment Centers of America

“Every year at the Trustee Meeting, it’s always the same question: How can we get the (truck) drivers to contribute more? SAGE Scholarships 5% match was the answer.”

– Luis, V.P. of Human Recourses

CONTACT US

ADDRESS

Panacea Group

1520 Locust Street, Suite 400

Philadelphia, PA 19102

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PLEASE CALL OR EMAIL US:

Email: Info@PanaceaLLC.com

Tel: 215-948-2684

Fax: 215-985-5918

CONTACT

© 2017 by Panacea Group

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