Sponsor's Employer Discount Program
PurPose
The 1417Power Sponsor’s Employer Discount Program offers a 5% discount to Sponsors if the Sponsor’s employer participates in a payroll deduction and remittance program that transfers the Sponsor’s fee to 1417Power. Individuals receive the 5% discount in addition to other discounts, as long as they maintain a standard payroll deduction for the entire monthly fee.
Rules as defined in the individual discount programs apply. If an individual terminates their payroll deduction for any reason, they forfeit any payroll deduction being applied to their account going forward.
Enrollment
Sponsor’s Employers can offer 1417Power participation as a benefit to their employees. To qualify, the Sponsor’s employer provides after tax payroll deduction for collecting and remitting fees. Individuals in an Employer program receive a five percent (5%) discount. Sponsor’s Employers utilize standard payroll deduction functionality offered by all payroll service providers and most payroll applications. These payroll deductions are made from after tax earnings and are electronically deposited to 1417Powers account with individual account number identification and deposit amount. Typically, there is no cost to the Sponsor’s employers to offer this benefit.
Sponsor (Employee) Discount:
Sponsors employed by companies participating in payroll deduction with direct deposit to 1417 earn a 5% discount for having their monthly fee processed by their employer’s payroll deduction service. This discount is in addition to the group and prepayment discount. The combination of all discounts is limited to a maximum 20% discount.
Discount Qualifications
The maximum single or combined discount is twenty percent (20%). The group discount schedule applies for qualified groups participating in the Employer discount Program. Individual prepayment discounts are additive to the Employer Payment program.