State Treasurer of Iowa

Treasurer Fitzgerald Awards $529 College Savings Iowa Account to Des Moines Child

April 23, 2012

DES MOINES, Iowa – Another successful Kidsfest has come and gone and as promised, State Treasurer Michael L. Fitzgerald is awarding a $529 College Savings Iowa account to one Kidsfest attendee. The winner is 5-year-old Amelia Tice from Des Moines. Her father, Chandler Tice, filled out the winning slip. “I’m pleased to be able to give this award to Amelia,” said Treasurer Fitzgerald. “The time for college comes quickly, and every little bit her family saves now will help offset the future costs.”

Though it may seem like a long time before your child is going to be ready to start thinking about college, time has a way of sneaking up on you. That’s why it’s best to start saving as early as possible. Fortunately, College Savings Iowa offers families a tax-advantaged way to save money for their children’s education. Participants can choose from fourteen investment options, including four age-based investment tracks. Anyone – parents, grandparents, friends and relatives – can invest in College Savings Iowa on behalf of a child. Iowa taxpayers can deduct up to $2,975 in contributions per beneficiary account from their 2012 adjusted gross income, and there are no income or residency restrictions.* To learn more about College Savings Iowa or to open an account, please visit www.collegesavingsiowa.com or call 1-888-672-9116.

*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 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 1-888-672-9116, 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:

Karen Austin, 515-281-7677, karen.austin@iowa.gov

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