A plan for future educational goals

Be confident in your child’s bright future by planning ahead now. The earlier you begin saving, the more time your account has the opportunity to grow.

my529, Utah’s educational savings plan, wants to give you a boost to start saving for education early

A special offer for Waterford Upstart participants

How to get the match

  1. Open a my529 account between July 1, 2024, and December 31, 2024.
  2. Enter promotional code 2024UPS.
  3. Contribute at least $20.
  4. my529 will deposit $20 into your new account.

To qualify, the account owner must be a Utah resident and the beneficiary must be new to my529.

Enter your promotional code on step four of the account opening process, where you review your information.

What is a 529 plan?

529 plans are sponsored by states, state agencies, and educational institutions, and are authorized by Section 529 of the Internal Revenue Code.

Benefits of my529

529 plans provide important advantages.

  • Earnings aren’t subject to federal or state tax when used for qualified higher education expenses, such as:
    • Tuition and mandatory fees.
    • Computers, peripheral equipment, educational software, and internet access.
    • Books, supplies, and required equipment.
    • Room and board for students enrolled at least half-time.
  • Tax advantages. Utah taxpayers who are account owners can receive a tax credit for contributions to their my529 accounts up to a certain limit.
  • Not just for Utah. my529 funds can be used nationwide at any college, university, or trade or technical school that is eligible for federal financial aid.
  • Rollovers to Roth IRA (with certain limitations)

Other resources

Spend a couple of minutes learning about my529, Utah’s official 529 college savings plan.

Watch this basic primer on saving for college with a 529 plan.

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