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General Information
Pennsylvania 529 Guaranteed Savings Plan
In the Pennsylvania 529 Guaranteed Savings Plan, Pennsylvania residents acquire units that increase in value over time to track average tuition increases in one of several school categories as selected by the participant. The ability to switch categories retroactively makes this a flexible option to lock in tuition no matter which particular college the beneficiary attends. Accounts can be linked to the Upromise rewards service.
Our Ratingix
Fee Scoreix
4 of 5
Performanceix
N/A
- Program typeGuaranteed savings
- Enrollment periodOpen year-round. Price change each year on September 1.
- Inception1993
- State agencyPennsylvania State Treasury Department
- Tax deduction
- Program ManagerDelaware Investments
Ratings & Rankings
Our overall rating for PA residents
This is an excellent program with many benefits for the participant and positive investment attributes. If it has any significant weaknesses then it also has some particularly good things to recommend it.
Our overall rating for non-residents
This program is not open to you either because it has residency requirements or because it has stopped accepting new enrollments.
Savingforcollege.com's 5-Cap Ratings provides an evaluation and comparison of 529 plans, utilizing a formula that examines dozens of factors grouped into the following categories.
Financial Benefits
4.00
Features
5.00
Safety
4.00
Reliability
4.00
Eligibility
State residency requirements:
Who can be a participant/owner in the program?
Significant time or age restrictions imposed by the program:
Contributions
Maximum contributions:
Minimum contributions:
Contractual Features
Current value of one unit:
Current unit price:
Are program benefits backed by the full faith and credit of the state?
Are program benefits collateralized or guaranteed in any other way?
Fees & Expenses
Enrollment or application fee:
Account maintenance fee:
Taxes and other Benefits
- Tax deduction for single filers$15,000/yr
- Tax deduction for joint filers$30,000/yr
Example
Married filing jointly residents contributing $100/month can expect an additional $0 a year in tax savings.
Program match on contributions:
State tax deduction or credit for contributions:
State tax recapture provisions:
State tax treatment of qualified distributions:
State tax treatment of rollovers:
Does the sponsoring state exclude the value of an account for state financial aid purposes?
Does participation in the program provide beneficiaries with any advantages in qualifying for resident tuition status at state institutions?
Does the program have a formal agreement with a rewards program or outside scholarship program?
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