529 Plans

• This is a college savings plan
•  Allows qualified individuals to pay for higher-education costs with little to no tax.
• Accumulation of earnings are tax-exempt
• Earnings are tax-free when used to cover qualified costs
• Prior to the age of 59.5, an additional 10% tax would be owed on any distribution of earnings (exceptions may apply).
• Funded with pre-taxed amounts

529 Plan Benefits

• Tax-advantaged way to save and pay for higher-education expenses
  • Tuition, books, technological devices, on and off-campus living, etc.
• Efficient
• Nationwide
• Automatic contributions are optional