529 Plans
With their flexibility and high contribution limits, 529 Plans are an excellent choice for many families trying to save for future education expenses. Individuals can open a 529 Plan account for any beneficiary, including themselves, and enjoy tax-deferred growth and tax-free withdrawals for qualified higher education expenses such as tuition, books and room and board at any accredited institution.1 The contribution limits vary depending on the plan, but in some cases it can reach $294,000.
1 529 Plans are subject to certain risks, charges and expenses that must be considered when selecting a college savings plan. In addition, 529 Plans are also subject to market risk, which is the risk that stock prices may decline in response to the overall market environment and economic conditions. As a result, your account may increase or decline in value. By investing in a Plan outside of your state of residence, you may lose any state tax benefits. Non-qualified withdrawals are subject to federal and state income tax and a 10 percent penalty. Contact your registered representative for more information. Please consider the Plan's investment objectives, risks, charges, and expenses carefully before investing. This and other information about the 529 Plan are contained in the Plan disclosure document and prospectuses. Please read them carefully before you invest.
