Alabama 529 College Savings Plans
Alabama offers two 529 plans, the CollegeCounts 529 Fund and the CollegeCounts 529 Fund Advisor Plan. Each Alabama 529 plan is managed by Union Bank & Trust Company, which replaced prior manager Van Kampen during 2010. Both programs feature a menu of investment options utilizing funds from well-known fund companies. Alabama’s prepaid program (PACT) was closed to new enrollments in 2010.
Click on the links below to see specific details for each Alabama 529 plan.
Alabama 529 Tax Benefit
The manager for the Alabama CollegeCounts 529 Fund direct-sold savings program changed from Van Kampen to Union Bank and Trust Company in August 2010. It features age-based, static and individual fund portfolio options using mutual funds from multiple fund firms....
Advisor Sold Plans
The manager for Alabama CollegeCounts 529 Fund Advisor Plan changed from Van Kampen to Union Bank and Trust Company in August 2010. It features age-based, static and individual fund portfolio options using mutual funds from multiple fund firms....
On May 17, 2021 Alabama terminated its involvement with the Enable program and launched its own ABLE program called the Alabama ABLE Savings Plan. The plan is administered by the Alabama State Treasurer and will be the Official ABLE Plan of Alabama. The plan is established pursuant to the Alabama ABLE Act, §16-33C-1 through 25, Code of Alabama, as amended. The plan is designed to be a “qualified ABLE program” under Code Section 529A, which status permits a beneficiary of an ABLE Account established under the plan to make tax-free withdrawals to pay for qualified disability expenses under certain circumstances....