DES MOINES, Iowa – State Treasurer Michael L. Fitzgerald spoke with members of the Madison County Chamber of Commerce on 529 College Savings Day, Friday, May 29. The day was declared 529 College Savings Day in order to help bring attention to the fact that saving for college with a 529 plan is one of the most significant things families can do for the children in their lives.
State Treasurer Fitzgerald Visits Madison County’s Friday Chamber Coffee on 529 Day
During the event, Fitzgerald emphasized the importance of an affordable college education. “Children with a college savings account in their name are six times more likely to attend a four-year college compared to children with no dedicated college savings account,” Fitzgerald said. “Those who begin putting away money early can make their college savings add up to a significant amount. I encourage all Iowa families to consider opening a 529 account for a special child in their life.”
“We want parents to know it’s never too early or late to start planning for their children’s education,” Fitzgerald added. “As a way to raise awareness about Iowa’s 529 plans, families are able to gain a jump-start on saving for their child’s future education by registering for the chance to win a $5,290 College Savings Iowa account.” For more information and to enter the giveaway, please visit CollegeSavingsIowa.com before 11:59 pm on May 31.
Iowa’s 529 plans, College Savings Iowa and IAdvisor, offer families a tax-advantaged way to save money for their children’s higher education. Anyone – parents, grandparents, friends and relatives – can invest in Iowa’s 529 plans on behalf of a child. Iowa taxpayers have the additional benefit of being able to deduct contributions up to $3,163 per beneficiary account from their 2015 Iowa adjusted gross income.*
*Adjusted annually for inflation. If withdrawals are not qualified, the deductions must be added back to Iowa taxable income.
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 888-672-9116 or visit www.collegesavingsiowa.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.
For more information about the IAdvisor 529 Plan, call 800-774-5127 or visit http://529plans.investments.voya.com/Iowa/ to obtain a Program Description. An investor should consider the investment objectives, risks, charges and expenses associated with the IAdvisor 529 Plan before investing. The Program Description should be read carefully before investing.