SECURE 2.0 could bring exciting opportunities to your my529 account

Unused educational funds now have the potential to kickstart a beneficiary’s Roth IRA savings.

Effective January 2024, SECURE 2.0, a new federal law, allows funds from an established 529 account to be transferred tax-free to a Roth IRA owned by the beneficiary of the 529 account.

The goal of SECURE 2.0—an act passed by Congress in December 2022 with the acronym Setting Every Community Up for Retirement—is to encourage saving toward retirement. Allowing leftover funds to be repurposed helps achieve that goal. These leftovers are the kind everyone wants!

Visit our website’s SECURE 2.0 Frequently Asked Questions page for more information.

SECURE 2.0, a new federal law, allows funds from an established 529 account to be transferred tax-free to a Roth IRA owned by the beneficiary of the 529 account.

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Important Legal Notice

Investing is an important decision. The investments in your account may vary with market conditions and could lose value. Carefully read the Program Description in its entirety for more information and consider all investment objectives, risks, charges and expenses before investing. For a copy of the Program Description, call 800.418.2551 or visit my529.org.

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FDIC insurance is subject to limits set by federal law. Click here for more information about FDIC Insurance.

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