With 529 College Savings Day approaching, the state’s official education savings plan, KY Saves 529, encourages Kentucky families to talk about saving for education at all levels.
“Saving for education is a high priority for many Kentucky families. With lowered fees and more features than ever, we’re thrilled to offer KY Saves 529 as an education savings option,” said Executive Director Eugene P. Hutchins of the Kentucky Higher Education Assistance Authority, which administers the savings plan. “There’s truly no better time to get started.”
KY Saves 529 can be used to save for education at levels: K-12, technical school and college. 529 plans take their name from the section of the Internal Revenue Code that governs such plans.
529 College Savings Day is celebrated May 29 to remind families to evaluate their education savings plans. It stresses the benefits of a 529 plan as an effective savings tool. KY Saves 529 offers tax-deferred growth potential and tax-free withdrawals for qualified expenses. It also has features that help account owners save even more, such as Ugift® and Upromise®. To learn more about KY Saves 529 or to enroll, visit kysaves.com or call toll free 877-598-7878.
KHEAA recently welcomed Institutional Relationship Manager Joseph Wilcox, who will work with Kentucky employers and organizations interested in learning more about 529 plans and KY Saves 529. To find out how Wilcox can help introduce KY Saves 529 as a voluntary benefit or support your organization, please visit kysaves.com/engage.
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