Vestwell Wins Vermont 529 Education Savings Program

Vestwell Now Powers All Three of Vermont’s State Savings Programs

New York, New York, February 20, 2025 — Today, Vestwell, the backbone of the modern savings economy, has announced its partnership with the Vermont Student Assistance Corporation (VSAC) to power VT529, Vermont’s 529 Education Savings program, further solidifying its leadership in state savings solutions.

The program will provide Vermont residents with a modern, accessible way to save for future educational endeavors. 529 Education Savings Accounts allow funds to grow tax-free across a range of investment options, with the flexibility to apply savings toward a variety of education-related expenses.

This partnership grows Vestwell’s presence in Vermont, where the company powers the state’s auto-IRA retirement program, VTSaves, and ABLE (Achieving a Better Life Experience) disability savings program, Vermont ABLE. Vestwell seamlessly partners with three state agencies to administer a comprehensive suite of solutions to help state residents save for retirement, education, and disability expenses—all in one platform.

"We are incredibly proud to be selected to power Vermont's 529 Education Savings program. Our partnership with the state exemplifies Vestwell’s ability to work collectively with multiple state agencies—each with their own unique programs—to create a cohesive savings experience,” said Douglas Magnolia, President of State Savings, Vestwell.

“By powering all three of Vermont’s state savings programs, we can provide individuals with access to a full range of savings tools on one, unified platform—whether they’re planning for college, retirement, or disability-related expenses. This expanded partnership is a testament to the strength of our platform and the expertise we bring to state-sponsored savings initiatives," added Magnolia.

“VSAC is the administrator of VT529, Vermont’s official education savings plan. Since the plan’s inception in 1999, more than thirteen thousand students and families have used over $400MM to cover qualified education expenses. Students and families trust us to help them invest in their future,” said Scott Giles, President and CEO of VSAC. “We value Vestwell’s proven success, offering account holders low fees and an easy-to-use platform. Vestwell has a growing track record here in Vermont, and we are looking forward to partnering with them as we continue to help students and families save for college and job training."

As the backbone of the modern American savings economy, Vestwell is proud to be the leading and trusted provider for state governments. This partnership with Vermont demonstrates Vestwell’s commitment to offering accessible education savings solutions, providing families and individuals with the tools they need to secure a brighter future.

Vestwell currently powers over 30 savings programs across automatic IRAs, 529 Education Savings, and ABLE disability programs, driving meaningful change in how Americans save for their future. To learn more, visit vestwell.com/state-savings.

About Vestwell

Vestwell is the backbone of the modern American savings economy. Vestwell is a financial technology company that makes it easier for more Americans to save for life’s most important moments - from retirement to education and healthcare. Founded in 2016, Vestwell’s platform removes traditional barriers to saving, making it accessible, efficient, and approachable for everyone.

Vestwell provides a comprehensive suite of workplace savings solutions, including retirement plans, student loan repayment benefits, and specialized accounts for education, emergencies, and disability savings.

Trusted by financial advisers, employers, payroll providers, financial institutions, and government agencies, Vestwell empowers nearly 1.5 million savers across over 350,000 businesses nationwide, with over $30 billion in assets under management. With a commitment to closing the savings gap and fostering a secure financial future for all, Vestwell provides an elevated and accessible savings technology everyone deserves.

For more information, visit vestwell.com.