Des Moines, Iowa – State Treasurer Michael Fitzgerald awarded a $529 College Savings Iowa contribution to the Ott family of West Des Moines and Buchhop family of Winterset during the August 3 and August 8 Iowa Cubs Home Run Reader games. Audrey and Chloe were randomly drawn as the winners at the games.
“Summer is all about having fun, and what’s more fun than baseball and boosting a family’s education savings,” said Fitzgerald. “Our giveaways at the Home Run Reader games are a great way to spread the message about saving for education with College Savings Iowa, all while enjoying America’s favorite pastime with the ones you might be saving for.”
College Savings Iowa is a 529 program that lets parents, grandparents, family and friends invest for education expenses on behalf of a future scholar. “Busy summer months remind us how fast time flies with our children and grandchildren,” continued Fitzgerald. “With College Savings Iowa, it’s easy and fast to begin saving for their future. All you need is 10 minutes and $25 to get started.”
With funds and earnings from a College Savings Iowa account, families can pay for qualified expenses like tuition, room, board, books, supplies and more at any accredited program around the country or abroad.* Plus, if an Iowa taxpayer is a College Savings Iowa participant, they can deduct up to $3,474 in contributions per beneficiary account from their state taxable income in 2021.**
College Savings Iowa is a sponsor of the Iowa Cubs Home Run Reader program where Iowa’s youth can connect with participating local libraries to win two tickets to the Home Run Reader games by reading books.
For more information on College Savings Iowa, including additional tax benefits and investment options, call (888) 672-9116 or visit CollegeSavingsIowa.com. Connect with the plan on Facebook and Twitter to stay up to date on current events and plan updates.
*Earnings on non-qualified withdrawals may be subject to federal income tax and a 10% federal penalty tax, as well as state income taxes. The availability of tax or other benefits may be contingent on meeting other requirements.
**Adjusted annually for inflation. If withdrawals are not qualified, the deductions must be added back to Iowa taxable income.