529 College savings

Iron Mountain has partnered with Fidelity to offer all Mountaineers access to a tax-free college savings account that can help you start saving for your own — or a family member’s — educational expenses. You can use college saving account funds to pay for tuition and books at most accredited two-and four-year colleges and universities, as well as vocational/technical schools anywhere in the U.S.

How it works:

Anyone can open a 529 college savings account. When you open the account, you will designate a beneficiary. The beneficiary can be anyone, of any age, even yourself. 

The account owner maintains ownership of the account until the money is withdrawn. As long as the money stays in the account, no income taxes will be due on earnings.

Saving is easy when you select a direct deposit from your paycheck. To add your 529 college savings account to your direct deposit selections, visit myMAP and select the MY HR (Workday) link. Under the Pay section, select Payment Elections to set up direct deposit. Detailed instructions are available on myMAP > Human Resources > MyPay > Direct Deposit Elections in Workday. If you need assistance with your Iron Mountain direct deposit, please contact Global HR Service Support at 855-462-7547.

Withdrawals

You can withdraw money from your 529 college savings account at any time for any reason.

When you take money out to pay for qualified education expenses, those withdrawals may be free from federal income tax—and, in many cases, free of state tax, too.

But if the money is not used for qualified educational expenses, income taxes may be due for any earnings you withdraw.

Eligibility: All Mountaineers are eligible to open a tax-free 529 college savings account.

Get started: To learn more and set up your account, visit fidelity.com/529-plans/overview or call Fidelity at 800-544-1914, Monday through Friday, 8:30 a.m. – 5 p.m. ET.