529 News

Recent State News

Montana enacts state tax parity for 529 deduction

(May 17, 2013) - Montana Governor Steve Bullock has signed into law a bill (SB 117) that makes a Montana taxpayer's contributions to a non-Montana 529 plan eligible for a state income tax deduction. The maximum annual Montana deduction is $3,000 by an individual and $6,000 for a married couple filing jointly. Montana joins a small handful of states in adopting tax "parity" for 529-plan contributions. The change is effective retroactively to the beginning of 2013.

Oregon removes its one-plan restriction

(May 17, 2013) - The Oregon 529 College Savings Network has removed a restriction prohibiting accounts with the same owner and beneficiary in both of Oregon's 529 college savings plans. Accounts with the same owner and beneficiary can now be opened with the direct-sold Oregon College Savings Plan and the broker-sold MFS 529 Savings Plan. IRS rules require plan administrators to combine multiple accounts for tax reporting purposes.

Wisconsin 529 plans transition to TIAA-CREF and ING

(October 12, 2012) - TIAA-CREF Tuition Financing Inc. (TFI) will be taking over management of Wisconsin's college savings progams from Wells Fargo on October 26, 2012. A direct-sold version of the EdVest plan will remain available but the advisor-sold version of the plan will cease to exist under the EdVest name. Assets held in the advisor-sold EdVest will be combined with Wisconsin's advisor-sold "tomorrow's scholar" program. ING Investments Distributor, LLC and ING Funds Services, LLC (ING) will be the distributor for the tomorrow's scholar plan.

For more information, click here.

More State News

South Carolina Releases Revised 529 Plans (10/01/2012)
Tennessee announces new college savings plan (09/18/2012)
Texas seeks new manager for 529 savings and prepaid plans (08/31/2012)
South Carolina to stay with Columbia as 529 manager (07/23/2012)
ING to take on Wisconsin advisor-sold 529 (06/05/2012)
Wisconsin selects TIAA-CREF to manage 529 plan (05/21/2012)
Arizona makes 529 tax deduction permanent (04/03/2012)
Nebraska announces upcoming changes to its 529 plans (03/24/2012)
Wisconsin issues RFP for 529 program manager (02/22/2012)
MFESP announces $1,000 Montana Monthly Education Savings Award (02/01/2012)
New Jersey Governor vetoes 529 tax deduction bill (01/18/2012)
Wells Fargo to leave 529 manager role in Wisconsin (01/12/2012)
South Carolina seeking bidders to manage 529 programs (11/23/2011)
California to shut down its advisor-sold 529 (10/13/2011)
Wisconsin allows certain 529 non-owners to deduct contributions (07/20/2011)
New York 529 decides to keep Upromise/Vanguard, add JPMorgan (07/07/2011)
TIAA-CREF wins bid for California 529 (06/14/2011)
Fidelity declines to re-bid for California 529 plans (06/13/2011)
North Dakota to launch the Children FIRST Program (05/24/2011)
North Carolina eliminates scheduled income limits (05/24/2011)
Indiana launches CD 529 program with College Savings Bank (04/18/2011)
California seeking bids for 529 program manager (03/24/2011)
Only the account owner may claim the Wisconsin 529 deduction (03/10/2011)
Nevada's Columbia 529 completes asset transfer to Putnam plan (03/03/2011)
Missouri will retain Upromise Investments as 529 manager (02/08/2011)
NJ bill would provide state tax deduction for NJBEST (01/26/2011)
Indiana 529 adding FDIC-insured CDs (01/14/2011)
Indiana to Launch New 529 Savings Plan (01/12/2011)
Georgia 529 to terminate partnership with Tennessee (01/10/2011)
Mississippi issues RFP for 529 program manager (01/04/2011)
New York issues RFP for 529 program manager (12/22/2010)
"Bank takes college savings reins" (12/21/2010)
Tennessee Department of Treasury will soon offer matching funds (11/22/2010)
Hartford to manage CHET Advisor plan (10/07/2010)
Oklahoma 529 College Savings Plan reduces fees and expands options. (10/04/2010)
Putnam Investments selected program manager for Nevada’s national advisor-sold plan (09/16/2010)
Missouri removes 12-month minimum holding period on 529 funds (06/15/2010)
Nebraska 529 enters into 7-year contract with First National Bank (06/03/2010)
Rhode Island 529 renews contract with AllianceBernstein (06/03/2010)
Putnam to depart Ohio 529, assets go to BlackRock (05/14/2010)
TIAA-CREF retains Connecticut 529 management contract (04/12/2010)
OppenheimerFunds 529 is closed, assets transferred (03/30/2010)
Idaho changes recapture provision on rollovers (03/18/2010)
Utah tweaks state tax treatment for 529 plan (03/02/2010)
Pacific Life Funds to exit as Montana program manager (02/26/2010)
Union Bank to replace Van Kampen as Alabama 529 manager (02/26/2010)
Special settlement website for IL Bright Start account owners (02/10/2010)
Nebraska chooses First National to replace Union Bank as 529 manager (01/12/2010)
OppenheimerFunds and Illinois settle for $77 million (12/22/2009)
OppenheimerFunds and New Mexico settle for $67.3 million (12/16/2009)
Michigan launches advisor 529 (12/03/2009)
CA: Fidelity cuts 529 manager fee (12/02/2009)
NH: Fidelity cuts 529 manager fee (12/02/2009)
OppenheimerFunds and Oregon settle for $20 million (11/20/2009)
Colorado launches new 529 through FirstBank (11/10/2009)
Michigan allows deduction for charitable contributions to prepaid tuition fund (11/09/2009)
Michigan to unveil broker 529 plan from TIAA-CREF, Allianz (10/28/2009)
Oklahoma issues RFP for 529 program manager (10/09/2009)
Vermont to enhance 529, stay with TIAA-CREF (10/09/2009)
Ohio launches new adviser 529 with BlackRock (10/07/2009)
Illinois adopts tax recapture rule (08/13/2009)
Illinois gives tax credit to employers for 529 matching contributions (08/13/2009)
AIM 529 set to close down (08/05/2009)
Massachusetts decides to keep Fidelity as program manager (07/28/2009)
Nebraska issues RFP for 529 program management (07/06/2009)
Indiana 529 credit does not apply to rollovers (07/02/2009)
BlackRock reported as choice for new Ohio 529 (06/29/2009)
Connecticut issues RFP for 529 plan manager (06/15/2009)
OppenheimerFunds to exit Oregon at year's end (06/10/2009)
Massachusetts to bid out 529 program management (04/14/2009)
Oregon sues OppenheimerFunds for 529 losses (04/14/2009)
Oklahoma adds adviser-sold 529 savings plan (04/08/2009)
Oregon issues RFP for program manager of direct 529 (04/01/2009)
Bill introduced for new prepaid tuition plan in Oregon (03/31/2009)
Oklahoma to add an adviser 529 plan (03/12/2009)
Illinois issues 529 deduction guidance (03/04/2009)
Minnesota to make 529 manager selection (02/06/2009)
Hawaii introduces 529 tax deduction bill (02/01/2009)
Kentucky issues RFP for 529 program manager (01/20/2009)
Ohio issues RFP for broker-sold plan (11/04/2008)
Vermont accepting bids for 529 program manager (10/20/2008)
Indiana re-launches 529 plans with Upromise (10/02/2008)
Texas rolls out new prepaid plan (09/12/2008)
SEC denies request for "no action" on Missouri bank 529 (08/20/2008)
Ohio to add a second adviser 529 plan (08/06/2008)
Missouri extends tax break to non-Missouri 529s (07/14/2008)
Indiana's transition from JPMorgan to Upromise begins (07/08/2008)
Over $1 million placed in Oklahoma 529 as part of seven-year study (06/09/2008)
New York 529 plans to accept contributions from nonowners (05/27/2008)
Michigan looks to add a broker-sold 529 (05/26/2008)
Alabama to approve tax deduction for in-state 529 (05/20/2008)
Maryland to add broker 529 plan; modify tax deduction (05/19/2008)
New Mexico removes resident one-year hold (04/28/2008)
West Virginia consolidates broker 529s (04/17/2008)
DC to increase maximum deduction amount (03/27/2008)
Utah 529 eliminates age rules, resident-tuition benefit (03/21/2008)
Annual account fees removed from Kansas 529 plans (03/18/2008)
Alabama bills to provide deduction, remove out-of-state penalty (03/17/2008)
Tennessee to close down 529 savings plan (02/18/2008)
Maine babies to get 529 boost from Alfond Foundation (01/08/2008)
Michigan amends state tax deduction rule (12/27/2007)
Indiana taps Upromise to manage 529 plan (12/04/2007)
Upromise Investments, Inc. makes Ugift service available for Nevada 529 accounts (11/28/2007)
Texas and OppenheimerFunds ready new 529 plans (11/09/2007)
Arizona issues 529 plan audit findings (10/31/2007)
Improvements in place for West Virginia 529 plans (10/11/2007)
Pennsylvania re-brands its plans with "nowU" (09/24/2007)
Arizona to transfer Pacific Life 529 assets (08/24/2007)
Illinois Governor signs bill with asset protection for 529 savings (08/22/2007)
Arizona to transfer remaining SM&R 529 assets (08/21/2007)
Illinois removes its tax penalty on non-IL 529 plans (08/06/2007)
North Carolina enhances 529 deduction (08/03/2007)
Oregon to increase 529 deduction in 2008 (08/03/2007)
OppenheimerFunds wins bid for Texas 529 (06/28/2007)
North Dakota to offer 529 matching contributions (06/28/2007)
Arizona enacts 529 tax deduction starting 2008 (06/27/2007)
Wisconsin subs money market for stable value, reducing expenses (06/17/2007)
Nebraska hikes 529 tax deduction limit (05/30/2007)
Georgia changes tax deduction limits (05/18/2007)
Fees drop in Kansas 529 programs (05/16/2007)
Texas eyeing new prepaid tuition plan (05/15/2007)
Virginia annual deduction cap to increase in 2009 (04/30/2007)
Washington places cap on tuition increases (04/21/2007)
North Dakota enacts tax deduction for 529 contributions (04/16/2007)
Arkansas to develop a 529 matching contribution program (04/14/2007)
Idaho changes law to require recapture on rollover (04/03/2007)
Article: Bill approved in North Dakota brings state income tax benefits (03/24/2007)
Pennsylvania's adviser-sold 529 plan to close (03/17/2007)
Utah enacts 529 credit against new flat tax (03/16/2007)
RI tax form instructions incorrectly describe 529 deduction (03/07/2007)
Michigan to retain TIAA-CREF as 529 manager (01/18/2007)
Wisconsin changes fund mix, reducing costs (01/15/2007)
Pacific Life's Arizona 529 enters transition mode (01/05/2007)
Alabama treasurer to push for state deduction for 529 contributions (12/01/2006)
Upromise and Vanguard take over in PA's direct 529 (11/20/2006)
Texas Commission: prepaid tuition plan should re-open (11/19/2006)
American Century wins bid to stay as Kansas program manager (11/16/2006)
Upromise becomes new plan manager of ND 529 (10/25/2006)
Conn. rules against deduction on rollover contributions (08/21/2006)
North Carolina raises deduction limits in 2007 (08/15/2006)
Legg Mason 529 plan to close (08/10/2006)
Missouri adopts 12-month holding period for 529 plan contributions (07/20/2006)
North Carolina enacts tax deduction for 529 contributions (07/12/2006)
Article: Wyoming ends college savings plan (07/12/2006)
Wyoming to close its 529 plan, encourages rollovers to Colorado (07/11/2006)
Pennsylvanians can now deduct contributions to any 529 plan (07/05/2006)
Article: Plans offer new tuition incentive (06/13/2006)
Kansas Governor approves 529 deduction for out-of-state 529 plans (05/23/2006)
Kansas pilot program will match contributions of lower-income families (05/22/2006)
Connecticut governor approves state tax deduction for 529 contributions (05/08/2006)
Article: Plan proposed to help low-income families save for college (04/30/2006)
Missouri Treasurer proposes matching grants for 529 participants (04/24/2006)
Fidelity wins bid for California 529 manager selection (04/15/2006)
Article: Maine offers tax deduction to eligible contributors of 529 plan (04/06/2006)
Maine enacts 529 tax deduction for contributions to any 529 plan (03/31/2006)
Article: Ohio Tuition Trust Authority raises rates (03/26/2006)
Indiana enacts state tax credit for 529 contributions (03/23/2006)
Alabama Governor signs 529 exemption bill (02/13/2006)
Deduction for college fund urged (01/16/2006)
Article: Arizona trying to improve 529 college savings plan (01/07/2006)
Missouri to switch from TIAA-CREF to Upromise (01/05/2006)
Wells Fargo retains manager role in Wisconsin (12/23/2005)
Article: Rhode Island's CollegeBoundFund receives favorable rating (11/23/2005)
T Rowe Price to retain Maryland 529 management (09/16/2005)
North Dakota issues RFP for new 529 plan manager (07/06/2005)
Bill clarifying transfer tax exemption goes to TN Governor (06/21/2005)
Oklahoma amends state income tax deduction for contribution (06/10/2005)
Mississippi conforms to federal exclusion for non-Mississippi 529s (05/17/2005)
Arkansas creates deduction for 529 contributions (04/14/2005)
Oregon's 529 plan with Federated Investors is closed (02/09/2005)
North Carolina closing its adviser 529 channel (12/20/2004)
Wells Fargo to take over Wisconsin 529 (12/13/2004)
Wells Fargo to take over Wisconsin 529 (12/13/2004)
Michigan deduction and recapture rules are modified (12/01/2004)
Illinois state benefits to be reduced (07/26/2004)
Kansas increases deduction limits in 2005 (06/17/2004)
Tennessee now treats all 529s equally (05/20/2004)
Wisconsin extends tax deduction to great-grandparents, aunts, and uncles (04/21/2004)
ScholarShare to force mutual fund reporting reforms (04/11/2004)
State officials mulling closure of Wyoming 529 (02/17/2004)
Maryland bill would extend tax deduction to out-of-state 529s (02/14/2004)
New York details 529 program changes (11/08/2003)
Texas residents gain creditor protection for all 529 assets (10/10/2003)
Louisiana 529 changes signed into law (10/01/2003)
New York 529 plan is improved (09/29/2003)
New York Governor signs 529 improvement bill (09/29/2003)
Maine removes tax on residents in non-Maine 529s (06/25/2003)
Vermont adopts tax credit for 529 contributions (06/16/2003)
Nevada passes 529 creditor protection (06/15/2003)
NH adopts exclusion for all qualified 529 distributions (05/28/2003)
Governor signs fixes to Idaho 529 plan (02/17/2003)
New stable value program opens in Colorado (01/15/2003)
New York will impose tax on outbound rollovers (10/22/2002)
Maryland Governor vetoes bill permitting wider deductibility (05/16/2002)
New Jersey to add a prepaid tuition plan (12/13/2001)