CollegeBound Saver

CollegeBound Saver, Rhode Island’s 529 savings plan, gives your family a convenient and affordable way to save for college, with special features like:

• Tax-deferred growth and tax-free withdrawals
• No minimum contribution amounts
• Flexible investment choices
• Easy online enrollment and account management
• Ability to save through work with payroll direct deposit

Savings can be used at colleges, universities, and trade schools worldwide – not just Rhode Island – and can cover the cost of tuition, housing, meal plans, and more.

To hear even more about this great benefit, please watch the video below and register for an upcoming webinar.

Follow the below instructions to start, stop or update your payroll contributions: 

Begin the process by visiting the CollegeBound Saver website to enroll or login to your account.

1. After logging in, click on the beneficiary account (if you have multiple, you can choose any beneficiary)
2. Select “Manage Recurring Contributions” from the left column
3. Select “Go to Direct Deposit” to view or add your banking information. Any current direct deposit or payroll deduction information should be listed.
4. Select Change Payroll Instructions”
5. Choose the desired amount to be deducted from each paycheck per child. If you would like to stop any existing deduction, please enter $0.
6. Select “Next” and review. If correct, select “Submit”
7. Once complete, select “Get Form” to print and sign the required form to authorize payroll deductions. 

The final steps will be completed in the RI ERP system 

8. Login to RI ERP system
9. From the menu on the left-side of the homepage or any page choose “Requests”
10. Select “Create Request” under Actions
11. Under “Request Type” search for “CollegeBound Deductions” and the option will populate. Select Ok.
12. Enter the total desired deduction amount
13. Upload the Payroll Direct Deposit Authorization Form, please view steps #1-#7 to complete and access this form
14. Select “Ok” and “Done” to confirm this transaction
15. A confirmation of the submission will be displayed, and the request will be reviewed for approval by the Central Payroll team.  

Where to Go for Support 

• CollegeBound Saver is administered through the Office of the General Treasurer. You can learn more about CollegeBound Saver program at www.collegeboundsaver.com or call 1-877-517-4829, Monday–Friday, 8am–8pm EST.
• For more information on how to navigate and use the RI ERP system to submit this request or other processes please visit the RI ERP Website