The College Tuition Benefit (C.T.B.)

Earn Tuition Rewards by participating in Waters’ 401(k) Investment Savings Plan

You can earn Tuition Rewards that can be used to pay for up to one year of tuition (spread out over all 4 years) at over 400 private colleges and universities across the nation (that’s one third of the nation’s private colleges and universities). This benefit is being provided to you by Waters and their relationship with Colonial Life—at no cost to you—by the College Tuition Benefit, through the SAGE Scholar network.

How do I enroll?

All you have to do is click the button in the College Tuition Benefit section of the enrollment screens during your enrollment window indicating you are interested in enrolling in this program. After the enrollment window time ends, you will be sent an email from the program inviting you in. After your account is set up, you will be able to register as many of your dependents as you wish.


  • Each employee with a Waters 401(k) account balance can register for 500 SAGE Scholarship Tuition Reward points. Spouses can be registered for an additional one-time 500 tuition rewards points added to the employee’s balance.
  • Each point is equal to one dollar to be used for college tuition.
  • Employees in the Waters 401(k) Plan receive an annual 5% Tuition Reward points match of their 401(k) account balance on December 31st each year.
Age of ChildEmployee’s 401(k) Plan Account Balance annually5% Award annuallyCTB Scholarship Balance

Balance does not accrue interest
Award for registering a child500

Important Information:

  • You will receive a welcome email 10 days from the close of the enrollment. If you do not receive one, you must contact
  • You must log on and activate your account (from the email you will receive) within 6 months after receiving your welcome email or your benefits may be reduced.
  • To earn rewards, you must register a student prior to June 30th in their Junior High year.
  • Participation does not affect your 401(k) account in any way.
  • The maximum rewards you can use, per registered student, cannot exceed one year’s tuition at a participating school. The reward would be spread out over all four years of college, not paid up front during year one.
  • The Scholarship credits are held in your account until you pledge them to a registered child – You do not have to select a college ahead of time.
  • You do not have to purchase any other voluntary benefits to participate in this College Tuition Benefit.

To learn more, visit

Scholarship Program

Your children can earn up to $10,000 in financial assistance, to help pay for full-time undergraduate studies at an accredited four-year college or university.

For your children to be eligible, you need to have worked at Waters for at least one year, as of the application deadline.

There will be two $7,500, and one $10,000 scholarship, scholarships granted each year. And, if your child maintains satisfactory academic performance levels, that scholarship may be renewed for up to three years – or until he or she earns a bachelor’s degree.

For more details and application instructions, go to the Inside Waters intranet site in the Total Rewards section on the Waters’ site.