529 Plans

A 529 Plan is an education savings plan operated by a state or educational institution designed to help
families set aside funds for future college costs. As long as the plan satisfies a few basic requirements,
the federal tax law provides special tax benefits to you, the plan participant (Section 529 of the Internal
Revenue Code).

529 plans are usually categorized as either prepaid or savings, although some have elements of both.
Every state now has at least one 529 plan available. It's up to each state to decide whether it will offer a
529 plan (or possibly more than one), and what it will look like. Educational institutions can offer a 529
prepaid plan but not a 529 savings plan (the private-college Independent 529 Plan is the only
institution-sponsored 529 plan thus far).

By investing in a 529 Plan outside of the state in which you pay taxes, you may lose tax benefits offered
by the state's plan. Withdrawals used for qualified expenses are federally tax-free. Tax treatment at the
state level may vary.

Contact your advisor for information on plans available in your state. Some clients may qualify for out of
state plans.
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