529 News

Recent Industry News

American Funds launches first advisor-sold ABLE plan

(July 19, 2018) - ABLE America, sponsored by Virginia529, is the first advisor-sold savings plan designed for individuals with disabilities. ABLE plans allow eligible individuals to invest up to $15,000 per year in a tax-advantaged account for qualified disability expenses.

3Q 2017 529 & ABLE Data Highlights

(November 14, 2017) - Assets in 529 college savings plans rose to $282 billion in Q3 2017, up from $276 billion in the previous quarter. Assets in prepaid plans grew to $24 billion and there were 13,190 ABLE accounts invested in $48.5 million, according to new data from Strategic Insight.

ABLE plan contribution limits higher for 2018

(November 2, 2017) - The IRS recently announced an upcoming increase to the annual gift tax exclusion. In 2018, gifts of up to $15,000 per beneficiary will qualify for the exclusion, up from $14,000 in 2017. Each ABLE account will be able to accept up to $15,000 in aggregate contributions.

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