DES MOINES≈ State Treasurer Michael Fitzgerald celebrated 529 Day with a $529 contribution to Iowa College Savings to one family in every county in Iowa. The Zeman family was randomly selected as the winner from Tama County. “I’m thrilled to give Wesley’s college savings a boost,” said Fitzgerald. “It only takes one contribution to make things happen. Whether it’s $25 or $529, every dollar saved is a dollar that won’t have to be borrowed later.
Treasurer Fitzgerald is a trustee of the College Savings Iowa 529 plan, which helps families save for rising education costs. “529 Day, which is celebrated annually on May 29, was intended to educate families about the benefits of saving with a 529 plan,” He continued. “College Savings Iowa is simple, easy to use, and flexible – the tax benefits are just the icing on the cake!” In addition to tax-deferred income and tax-free withdrawals, participants who are Iowa taxpayers can deduct up to $3,522 per beneficiary account from their Iowa income taxes in 2022.*
Anyone can open an account in a child’s name and use the funds to pay for eligible educational expenses at any eligible educational institution in the United States or abroad, including schools trades and vocational training, colleges, universities and apprenticeship programs.**
To learn more about College Savings Iowa, visit CollegeSavingsIowa.com or call (888) 672-9116 to speak with an education specialist. Follow College Savings Iowa on Facebook and Twitter to stay connected on upcoming events and giveaways.