Personal 529 Plans
A 529 Plan (named after Section 529 of the IRS Code) is an educational savings plan. Each of the 50 states has its own, and many states administer more than one. Though contributions to 529 Plans aren’t tax deductible, their earnings on growth are. If you decide to open a 529 account now, you are not limited to in-state institutions later—the funds can be used to attend any college nationwide.
- must be used for college expenses
- no annual contribution limit*
- no beneficiary age restrictions
- can change investment allocation twice per year
Anyone can start contributing to a 529 Plan.
To open a 529 Plan or to speak with a Frost Wealth Advisor about achieving your educational savings goals, call (888) 268-9202.