529 College Savings

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529 College Savings

Sorry – this has nothing to do with tech or VoIP or IP communications or really anything TMCnet normally covers. Still I am compelled to share good news about 529 plans I just learned that on August 17, 2006, President Bush signed the Pension Protection Act of 2006. Among other provisions that address retirement planning, this legislation ensured that qualified withdrawals from 529 accounts would be permanently tax free. Prior to the bill becoming law, this benefit was scheduled to expire after 2010.
 
There are more details about 529 plans in this article from Upromise. In case you aren’t aware, Upromise has various ways for people to save money for tuition via deals they have worked out with product manufacturers and retailers. Basically you can get a percentage of your purchases put into an account that accrues for use in paying tuition.


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