A publication of the Kentucky Center for Public Service Journalism

Kentucky Education Savings Plan Trust offers savings plan with tax advantages, gift opportunities

The Kentucky Education Savings Plan Trust (KESPT) is encouraging families to include college savings on their gift lists this holiday season. KESPT’s simple and secure eGift feature enables account owners to send gift invitations to family and friends. There are also tax advantages to starting or adding to a KESPT 529 college savings plan account.
 
“Kids outgrow toys and clothes, but contributing to a child’s college education is a meaningful gift that will inspire young people to start thinking about their futures,” said David Lawhorn, KESPT program manager. “There are benefits to saving early while children are young, and our eGift service makes it easy for friends and family to give the gift of education.”
 
For those interested in making a gift contribution to a child’s account, KESPT offers downloadable gift certificates at kysaves.com for Christmas, Hanukkah and Kwanzaa (as well as non-holidays like graduations, birthdays and baby showers).
 
A KESPT account can be started with as little as $25 and can be used at any qualified institution in the nation. There are a variety of low-cost investment portfolios to choose from including age-based, multi-fund and guaranteed options.
 
The tax advantages associated with 529 plans make year-end a good time for families to review their savings strategies. Not only can earnings grow tax free in a KESPT account, but withdrawals are also tax-free when used to pay for qualified education expenses.
 
For more information about KESPT, tax advantages and the eGifting feature, visit kysaves.com or call toll-free 1-877-598-7878.

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