Akin Gump Debuts 529 College Savings Plan Benefit for U.S. Lawyers and Staff

(Washington, D.C.) – Akin Gump today announced a new college savings plan benefit for U.S. lawyers and staff. The firm’s new 529 College Savings Plan benefit, introduced through finance company SoFi, will allow eligible U.S. partners and employees to save for future education costs through automatic payroll deductions.

Akin Gump is now among the very few large law firms offering a 529 College Savings Plan benefit to its partners and employees. Through this new benefit, plans may be opened by partners and employees and may be used for an array of education expenses that extend beyond tuition. Employees with existing 529 plans may set up deductions to begin investing into the plan, while those without existing plans may use SoFi’s Savings and Selections Tool to identify the plan that best fits their needs.

Commenting on the introduction of this benefit, Akin Gump chief human resources officer Meg Meserole said, “We recognize that paying for college and all the expenses it entails can be a source of major financial stress, particularly if families have not prepared in advance. That is why we are so excited to partner with SoFi on this new benefit. Eligible employees can identify a plan and investment amounts that work best for them and contribute through convenient payroll deductions, allowing them to prepare for this major life expense.”

The introduction of the College Savings Plan benefit is among the latest moves by Akin Gump to provide a holistic benefits program for employees that meets them where they are. Last month, the firm announced a suite of family-friendly benefits, including the launch of an adoption, surrogacy and fertility resource. More information on that can be found here.

Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 900 lawyers and advisors in offices throughout the United States, Europe, Asia and the Middle East.

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