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Catching On: A New Way to Pay for Worker Training.
- Article from:
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Kiplinger Business Forecasts
- Article date:
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June 6, 2008
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Copyright informationCOPYRIGHT 2008 The Kiplinger Washington Editors, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Jonathan Crawford
Employers are increasingly offering to set up education savings plans and match workers' contributions. These programs offer employers a new way to help finance an employee's classes or training to upgrade skills without bearing the entire cost, encouraging participation in everything from certification programs to advanced computer training.
The education accounts are expected to grow rapidly over the next few years, helping to alleviate skills shortages in the wake of a large wave of retirements. Moreover, Congress may step in to provide tax incentives for the plans, a big plus that would hasten their adoption by businesses.
"I think ...