Dun & Bradstreet Credibility Corp. Launches EdAhead, The First-Ever Education Savings Plan With Company Match and Donation to Local Schools
Employee Contributions Are Matched and Activate a Donation to Millburn Township Public Schools in Short Hills, New Jersey
Dun & Bradstreet Credibility Corp., the leading provider of credit building and credibility solutions for businesses, today announced the launch of EdAheadTM, the nation’s first education savings plan with a multiple match. The company created the EdAhead fund to support its commitment to putting the dream of college back on track with the power of personal action.
“There is no more pressing issue than education in this country, which is why I’m so passionate about what we’re doing as a company to make a difference. We are leading the effort to establish the importance of higher education -- for our employees, their children and the communities where we work,” said Jeff Stibel, Chairman and CEO of Dun & Bradstreet Credibility Corp. “Our strength in building trust and credibility puts us in a position to be a catalyst for a new idea that will create an impact on education today and tomorrow. We are taking the first step as an employer, community partner and business innovator, and we hope other companies will follow suit.”
The EdAhead program will operate in the following fashion:
- When employees contribute to their EdAhead account, Dun & Bradstreet Credibility Corp. will match up to a certain amount of the funds annually, effectively increasing the rate at which the employee’s education savings grow.
- Employee contributions activate a second aggregate match for Millburn Township Public Schools in Short Hills, New Jersey where Dun & Bradstreet Credibility’s New Jersey offices are located.
- The amount of the donation in Millburn Township will equal the aggregate amount of the match made by the company to employees in the Short Hills office.
Eligible beneficiaries of EdAhead accounts can include the employee, his or her dependent children, or children of other family members or friends. Due to government restrictions, funds that employees contribute are after tax, but the company will be adding to the employer matched portion an additional amount to help offset these taxes. Any investment earnings in the account are tax free as long as the funds are withdrawn for eligible education costs.
The company hopes that other companies will join in the cause and also offer EdAhead programs for their employees, and is planning a future 2013 campaign to educate and encourage such participation.
“Access to and choice of education can be the start of many successful futures and—just as important—can seed a network effect of success for families, communities and a nation that will rely on future generations’ leadership to make the most of whatever lies ahead,” said Stibel. “Individuals can’t solve this problem alone. Education is everybody’s business.”
Dun & Bradstreet Credibility’s EdAhead plan is being administered by Putnam 529 for AmericaSM.
EdAhead is the first education savings plan with a multiple match. Employee contributions activate a match by company dollars as well as a donation to local public schools. EdAhead is sparked by the power of personal action, gains momentum through the company’s shared commitment and multiplies the benefit in communities close to our homes. EdAhead is an initiative introduced by Dun & Bradstreet Credibility, a leader in credit and credibility solutions for business. For more information on the EdAhead plan or to find out how your company can offer an EdAhead program for your employees, visit www.EdAhead.org.
About Dun & Bradstreet Credibility Corp.
Dun & Bradstreet Credibility Corp. is the leading provider of credit building and credibility solutions for businesses. The company helps businesses establish their credit with a D&B D-U-N-S Number and provides the only business credit solution available to companies looking to build, monitor, and impact their business credit and credibility. The company's headquarters are in Los Angeles, CA with offices throughout the United States. For more information on the company, please visit www.DandB.com or follow the company on Twitter via @DandB.