DES MOINES, IA (03/14/2018) (readMedia)-- Forbes online has declared College Savings Iowa as one of the five best 529 college savings plans in the country. "According to the Personal Finance section of Forbes online*, College Savings Iowa is one of the best performing 529 plan in the country and is in the top five nationally based on 10-year returns," State Treasurer Michael Fitzgerald said. "It is great to have an independent source say that we are one of the best options when it comes to helping families get prepared for their children's future education."
The recent article summarizes SavingforCollege.com's annual rankings of the best 529 plans by performance. SavingforCollege.com is a resource for current and future college savers, allowing visitors to learn about and compare different 529 plans from around country. The Forbes article suggested that sensible management combined with low cost are the most important factors when finding the college savings plan that will work the hardest for their account holders. "College Savings Iowa is extremely proud of its low costs, solid investment options and our management partnership with Vanguard," said Treasurer Fitzgerald.
The article also reminded its readers that along with performance and growth, tax breaks are a powerful attraction to 529 plans. With a College Savings Iowa account, Iowa taxpayers can deduct up to $3,319 in contributions per beneficiary from their adjusted gross income.**
For more information about College Savings Iowa, visit CollegeSavingsIowa.com or call 1-888-672-9116. You can also connect with the plan on Facebook and Twitter (@Iowa529Plan) to stay up to date on current giveaways and events.
*Visit the Forbes article by going to https://www.forbes.com/sites/johnwasik/2018/03/09/what-are-the-5-best-college-savings-plans/#6823efd91231
**Adjusted annually for inflation. If withdrawals are not qualified, the deductions must be added back to Iowa taxable income. The availability of tax or other benefits may be contingent on meeting other requirements.
***Earnings on non-qualified withdrawals may be subject to federal income tax and a 10% federal penalty tax, as well as state income taxes. The availability of tax or other benefits may be contingent on meeting other requirements.
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