U. of U. Appreciation Day

U. of U. Employee Appreciation Day

In honor of you, an employee of the University of Utah, my529 is offering a promotion for opening a college savings account with Utah’s official 529 plan. If you open an account for a new beneficiary between the promotion dates, we will match the first $20 you put in the account.

How to do it

  1. Open a my529 account between September 24 – October 8, 2020.
  2. Enter promotional code 2009UTE.
  3. Receive a $20 matching my529 contribution when you contribute at least $20.

To qualify, the account owner must be a University of Utah employee at the time of the promotion, a Utah resident, and the beneficiary must be new to my529. 

*Only valid while promotional funds are available.

Continue reading to determine whether my529 is right for you.

my529 is direct-sold

You can open a my529 account directly. A financial advisor isn’t necessary.

Anyone age 18 or older can open an account

You don’t need to be related to the beneficiary

You can open an account for yourself

You don’t need to be a Utah resident

No cost to open an account

Tax-deferred growth

Account earnings accumulate tax-deferred. Your balance can grow faster because you don’t pay taxes annually on account earnings.

Tax-free withdrawals

Earnings on withdrawals are exempt from federal and Utah state income tax if the funds are used to pay for qualified higher education expenses, such as:

Tuition and mandatory fees

Books, supplies and equipment required for enrollment

Computers, related software and equipment, and internet service

Room and board for students enrolled at least half time

Services required for a student with special needs to attend a post-secondary school

K-12 tuition expenses of up to $10,000 per year per beneficiary (from all 529 accounts) at public, private, or religious schools

Payments up to certain limits on qualified education loans (student loans)

Registered apprenticeships

Low fees

my529 fees are among the lowest in the 529 industry. Learn more about my529’s fees and fee structure. 

Investment options

my529 offers 13 investment options. (Note: Your investment could lose value.)

Four age-based options.

Seven static options.

Two customized options.

How account funds can be used

Withdrawals can be used for the qualified higher education expenses of your beneficiary at any eligible educational institution in the United States or abroad.

An eligible educational institution generally includes any accredited public or private college, university, or technical school that is qualified to participate in federal student aid programs. Contact your school of interest to determine their eligibility. You can also find a complete list of institutions, updated quarterly, at the U.S. Department of Education federal student aid site.

Important notice: Federal and state tax consequences will apply if account earnings are used for nonqualified expenses.

Utah account owners may qualify for a Utah state income tax credit or deduction.

 

Please read the my529 Program Description for more information.