Treasurer Fitzgerald Encourages Iowans to Celebrate College Savings Month
September 11, 2012
State Treasurer Michael Fitzgerald recently announced that Iowa has joined forces with other states in declaring September as College Savings Month. College Savings Month is a time when families are encouraged to explore the benefits of saving through a 529 plan like College Savings Iowa.
“As a way to raise awareness among families about saving for higher education, College Savings Iowa will be awarding our largest giveaway to date this fall, a $5,290 College Savings Iowa account,” Fitzgerald said. “I encourage all Iowans with young children to register today for a chance to win and jump-start their children’s college savings.” For more information about the giveaway and to register, visit www.myiowa529plan.com.
College Savings Iowa is an affordable, tax-advantaged option for families who are saving for their children’s higher education. It takes just $25 to open a College Savings Iowa account, and anyone – parents, grandparents, friends and relatives – can invest on behalf of a child. Participants who are Iowa taxpayers can deduct contributions up to $2,975 per beneficiary account from their adjusted gross income in 2012 and there no income or residency restrictions.* To learn more about College Savings Iowa, go to www.my529iowaplan.com or call 1-888-332-7545.
*Adjusted annually for inflation if withdrawals are not qualified, the deductions must be added back to Iowa taxable income. The availability of tax or other benefits may be contingent on meeting other requirements.
Investment returns are not guaranteed and you could lose money by investing in the plan. Participants assume all investment risks as well as the responsibility for any federal and state tax consequences. If you are not an Iowa taxpayer, consider before investing whether your or the designated beneficiary’s home state offers any state tax or other benefits that are only available for investments in such state’s qualified tuition program.
For more information about the College Savings Iowa 529 Plan, call 1-888-332-7545, or visit www.my529iowaplan.com to obtain a Program Description. Investment objectives, risks, charges, expenses, and other important information are included in the Program Description; read and consider it carefully before investing. Vanguard Marketing Corporation, Distributor.
College Savings Iowa is an Iowa trust sponsored by the Iowa State Treasurer’s Office. The Treasurer of the State of Iowa sponsors and is responsible for overseeing the administration of the College Savings Iowa 529 Plan. The Vanguard Group, Inc., serves as Investment Manager and Vanguard Marketing Corporation, an affiliate of The Vanguard Group, Inc., assists the Treasurer with marketing and distributing the Plan. Upromise Investment Advisors, LLC, provides records administration services. The Plan’s portfolios, although they invest in Vanguard mutual funds, are not mutual funds.