The Utah 529 plan has a special Christmas gift for Utah residents that open a new account: a $25 bonus.
Here are the details:
Now is the best time to open a Utah Educational Savings Plan (UESP) college savings accounts for your kids, grandkids, or other loved ones. Enjoy a $25 matching contribution compliments of Zions Bank by opening an account by December 30, 2011, and using promotional code 1112HOL. (The account owner and beneficiary must both be Utah residents and new to UESP.) Visit www.uesp.org/pdfs/2011-Holiday-Promotion.aspx for complete details.
Sure, it’s a marketing gimmick. But it’s a good one to shed light on the importance of saving for college.
May 29 has been deemed “529 College Savings Day”.
Some 529 plan operators are holding giveaways in conjunction with the day. For example, the Utah 529 Plan is giving away four $529 UESP college savings certificates.
With that $529 being invested, it could add up to a lot more by the time your child or grandchild goes to college.
Every year, a number of states make changes to their 529 plans. It’s hard to keep up with all of these changes, but I do an annual review of the programs to update some of the most common changes:
-Increases to maximum contribution limits
-Changes in in-state tax benefits and deductions
This year there are some good changes and bad changes. Although many states have increased tax deductions, some have dropped matching grants as they struggle with budget deficits.
You should double check your state here to look for any changes:
Also, some states do better than others at keeping their informational web sites up-to-date. If you notice any errors in my updated numbers, please let me know.
A number of 529 plans offer upfront tax breaks to residents who invest in their own states’ plans. Although some states give you until you file your state tax return to make contributions for 2009, many require you to send your deposit by December 31.
To find out your states’ rules, go to our state 529 plan page, find your state, and click through to the relevant plan.
College Savings Iowa has reduced asset-based expenses on its 529 college savings plans. The 13 Vanguard investment options in the plan will see their fees reduced from 0.52% to 0.50%. That may not seem like much, but it’s $5 per $1,000 invested annually. If you’ve accumulated $50,000 in your account, that’s a savings of $250 per year.
This is the second time in three years the plan has reduced its expenses.