2Q 2023 529 and ABLE Market Sizing Highlights
By Paul Curley, CFA | paul.curley@issmarketintelligence.com | August 14, 2023What was the 529 and ABLE market sizing as of 2Q 2023 (June 30, 2023)?
June 2023 Quarterly 529 & ABLE Market Sizing Data
– 16.3 million accounts invested $451 billion in assets in 529 savings and prepaid plans
– 15.4 million accounts invested $427 billion in assets in 529 savings plans
– 0.9 million accounts invested $24 billion in assets in 529 prepaid plans
– 151,164 accounts invested $1.503 billion in assets in ABLE (529A) accounts
March 2023 Quarterly 529 & ABLE Market Sizing Data
– 16.1 million accounts invested $432 billion in assets in 529 savings and prepaid plans
– 15.2 million accounts invested $408 billion in assets in 529 savings plans
– 0.9 million accounts invested $24 billion in assets in 529 prepaid plans
– 144,068 accounts invested $1.399 billion in assets in ABLE (529A) accounts
June 2022 Quarterly 529 & ABLE Market Sizing Data
– 15.9 million accounts invested $413 billion in assets in 529 savings and prepaid plans
– 15.0 million accounts invested $389 billion in assets in 529 savings plans
– 0.9 million accounts invested $24 billion in assets in 529 prepaid plans
– 126,192 accounts invested $1.109 billion in assets in ABLE (529A) accounts
Net Flows (contributions minus withdrawals):
– Estimated 529 savings plan net inflows were $3.8 billion in 2Q 2023 compared to net inflows of $3.8 billion in 2Q 2022, net inflows of $4.7 billion in 2Q 2021, net inflows of $3.5 billion in 2Q 2020 and net inflows of $3.3 billion in 1Q 2019, which aligns with continued demand for 529s and more parents successfully using 529s for their intended purpose of qualified education expenses to and through the market and economic volatility in the pandemic period in the United States.
Furthermore, the increase from 2Q 2019 to 2Q 2023 highlights that momentum is building for households coming out of the pandemic period in comparison to the pre-pandemic period.
From an industry asset and account level perspective, 529 saving plans continue to expand to help even more families. Therefore, investor interest in 529 plans and saving for education in an efficient and effective manner in terms of tax, financial aid and estate planning continues to rise, and especially as part of year-end tax planning and education financial planning.
Top 10 529 Savings Plans by 2Q 2023 Assets
Top 5 529 Savings Plan Program Managers by 2Q 2023 Assets
For questions, commentary or feedback on the data, please contact Paul Curley at paul.curley@issmarketintelligence.com.
– 16.3 million accounts invested $451 billion in assets in 529 savings and prepaid plans
– 15.4 million accounts invested $427 billion in assets in 529 savings plans
– 0.9 million accounts invested $24 billion in assets in 529 prepaid plans
– 151,164 accounts invested $1.503 billion in assets in ABLE (529A) accounts
March 2023 Quarterly 529 & ABLE Market Sizing Data
– 16.1 million accounts invested $432 billion in assets in 529 savings and prepaid plans
– 15.2 million accounts invested $408 billion in assets in 529 savings plans
– 0.9 million accounts invested $24 billion in assets in 529 prepaid plans
– 144,068 accounts invested $1.399 billion in assets in ABLE (529A) accounts
June 2022 Quarterly 529 & ABLE Market Sizing Data
– 15.9 million accounts invested $413 billion in assets in 529 savings and prepaid plans
– 15.0 million accounts invested $389 billion in assets in 529 savings plans
– 0.9 million accounts invested $24 billion in assets in 529 prepaid plans
– 126,192 accounts invested $1.109 billion in assets in ABLE (529A) accounts
Net Flows (contributions minus withdrawals):
– Estimated 529 savings plan net inflows were $3.8 billion in 2Q 2023 compared to net inflows of $3.8 billion in 2Q 2022, net inflows of $4.7 billion in 2Q 2021, net inflows of $3.5 billion in 2Q 2020 and net inflows of $3.3 billion in 1Q 2019, which aligns with continued demand for 529s and more parents successfully using 529s for their intended purpose of qualified education expenses to and through the market and economic volatility in the pandemic period in the United States.
Furthermore, the increase from 2Q 2019 to 2Q 2023 highlights that momentum is building for households coming out of the pandemic period in comparison to the pre-pandemic period.
From an industry asset and account level perspective, 529 saving plans continue to expand to help even more families. Therefore, investor interest in 529 plans and saving for education in an efficient and effective manner in terms of tax, financial aid and estate planning continues to rise, and especially as part of year-end tax planning and education financial planning.
Top 10 529 Savings Plans by 2Q 2023 Assets
Top 5 529 Savings Plan Program Managers by 2Q 2023 Assets
For questions, commentary or feedback on the data, please contact Paul Curley at paul.curley@issmarketintelligence.com.