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Nonprofit to embark on $1 million 529 experiment

(November 22, 2004) - The Center for Social Development (CSD) is looking for a state to accept $1 million into its 529 program ($1,000 into accounts of 1,000 newborns selected at random) so that savings patterns can be tracked over multiple years. The Children's Saving Account initiative is a policy demonstration backed by the Ford Foundation, with potential to influence Federal policy discussion and debate. CSD will be releasing a request for proposal during the Spring of 2005. Interested states can contact Margaret Clancy at 314-935-8178 or mclancy@wustl.edu.

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