my529 materials now available in Spanish

FOR IMMEDIATE RELEASE:

Contact: Media Relations, 801.321.7157

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November 9, 2018

Information about educational savings is translated and available at my529.org

(Salt Lake City) my529, Utah’s official 529 educational savings plan, has published its website, Program Description, enrollment forms, and other resources in Spanish. Translated materials are located at my529.org. This effort furthers my529’s commitment to share the importance of preparing for education expenses with a wider audience.

my529 has been helping families nationwide work toward postsecondary education for more than 20 years. Account owners can choose from among 14 investment options to find the investment strategy that best meets their objectives, risk tolerance, and estimated time horizon.

Tax advantages that encourage investing for educational expenses differentiate 529 plans from other investment vehicles. Earnings in a my529 account grow federal and Utah state income tax-deferred. Utah resident taxpayers can earn a 5 percent tax credit per qualified beneficiary for contributions up to certain limits.

When it comes time for a beneficiary to attend college, account owners can withdraw their money tax-free for qualified higher education expenses such as tuition and fees, required books and equipment, computers, and internet access.

Funds invested with my529 can be spent at any eligible educational institution—college, university, or vocational school—in the United States and abroad that participates in federal financial aid programs. In addition, account owners can now use 529 funds for K-12 tuition expenses at public, private, and religious schools up to $10,000 annually per beneficiary in the aggregate from all 529 accounts. Withdrawals by Utah taxpayers will also be tax-free; non-Utah account owners should check the tax treatment in the state in which they reside or pay taxes.

The benefits of a my529 account go beyond the dollar amounts—educational savings can help children develop goals to continue their education after high school. A 2013 study found that even as little as $1 to $500 in a dedicated education savings account can make students three times more likely to attend college, and four times more likely to graduate with a degree.[1]

[1] Building expectations, delivering results: Asset-based financial aid and the future of higher education. Lawrence, KS: Assets and Education Initiative (AEDI), 2013.

About my529
my529, Utah’s official nonprofit 529 educational savings plan, is highly rated by Morningstar Inc., and recognized by Kiplinger’s Personal Finance magazine and consumer expert Clark Howard for its low fees and industry innovations such as its customized allocation investment options.

Accounts are free to open, and my529 requires no minimum deposit or account balance. my529’s user-friendly website, my529.org, makes it easy to open, manage, and contribute to an account online.

To learn more, visit my529.org, call toll-free at 800.418.2551, or email info@my529.org.

Important Legal Notice
Investing is an important decision. 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.

Investments in my529 are not insured or guaranteed by my529, the Utah State Board of Regents, the Utah Higher Education Assistance Authority or any other state or federal agency. Your investment could lose value. However, Federal Deposit Insurance Corporation (FDIC) insurance is provided for the FDIC-insured accounts. Please read the Program Description to learn about the FDIC-insured accounts.

The state in which you or your beneficiary pays taxes or lives may offer a 529 plan that provides state tax or other benefits, such as financial aid, scholarship funds, and protection from creditors, not otherwise available to you by investing in my529. You should consider such benefits, if any, before investing in my529.

my529 does not provide legal, financial, investment, or tax advice, and the information provided in this document does not contain legal, financial, investment, or tax advice and cannot be construed as such or relied upon for those purposes. You should consult your own tax or legal advisor to determine the effect of federal and state tax laws on your particular situation.

A Morningstar Analyst Rating for a 529 college savings plan is not a credit or risk rating. Analyst ratings are subjective in nature and should not be used as the sole basis for investment decisions. Morningstar does not represent its analyst ratings to be guarantees. Please visit Morningstar.com for more information about the analyst ratings, as well as other Morningstar ratings and fund rankings.