529 PLANS

529 News

Arkansas to develop a 529 matching contribution program

(April 14, 2007) - Arkansas has enacted a new law (Act 597) by which the Section 529 Plan Review Committee is to create a pilot program to be known as the "Aspiring Scholars Matching Grant Program" to match the contribution made into an Arkansas 529 plan account using the administrative funds collected by the program as the funding source.

The law also provides that a "Tax-Deferred Tuition Savings Program account shall be exempt for
purposes of determining eligibility for Transitional Employment Assistance, Medicaid, and food stamps, provided that the federal rules for these programs permit such an exemption."

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