Child Adoption Assistance Account
- Participant contributions pay for expenses related to adopting a child.
- Expenses related to adopting a child including medical, travel and legal expenses.
- Able to plan ahead and start saving for adoption-related medical, travel, and legal expenses.
- May be employee- or employer-funded or both.
- Contributions are tax-deductible.
- Improves financial & mental wellbeing.
- Employer funds are tax-deductible, if employer contributes.
- Reduce FICA/Payroll taxes by 7.65% for every pretax dollar employees contribute.
- Improves recruiting, retention and engagement.