Overview & Eligibility
A Tuition Reimbursement Account (TRA) is an employer-funded program that can help employees pay for their degree, tuition, specialized training, and other costs associated with ongoing education.
Employers choose what expenses are reimbursable and set a maximum reimbursement limit, which is tax-deductible for the employer. Employees then pay for tuition and other eligible expenses out of pocket and submit requests for reimbursement with supporting documentation.
The Value for Employees and Employers
It’s a useful benefit that can help employees advance in their career by attending school or specialized training programs.
Depending on how the employer sets up the TRA, employees have multiple options on how they spend their funds.
It’s easy to set up and employers have endless options in what the program will reimburse and how much each employee gets per year.