What is a 529 Plan?

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Named after the Internal Revenue Code that allows for this type of investment, 529s help families save for eligible colleges, universities and vocational/trade schools worldwide (not just in Indiana). In fact, they’ve become one of today’s most popular college saving tools.

Unique 529 advantages

 

1 Earnings on non-qualified withdrawals are subject to federal income tax and may be subject to a 10% federal penalty tax, as well as state and local income taxes. The availability of tax or other benefits may be contingent on meeting other requirements.