Issue 341

529 Dash, Required Reading for Your 529 Education:
The goal of the 529 Dash is to help institutions and financial professionals who help families and employers in the education financial planning process by creating and sharing industry relevant news, product training, market data and best practices, while also building awareness and understanding of the importance of 529 plans and ABLE accounts.

Please Read, Engage and Share.

Paul Curley, CFA
Associate Director
529 & ABLE Solutions, ISS Market Intelligence
paul.curley@issmarketintelligence.com
Twitter: @PaulCurleyBC

529 News & Research

Here is what you need to know from stories, research, and data released this week:

529 Insiders, “Status Board: SECURE 2.0 529 State Updates.” Editor’s Take: Which states have passed, have not passed and will or will not pass enabling legislation to include certain types of rollovers from 529s to Roth IRAs as 529 qualified expenses for state tax purposes? Since the last issue of the 529 Dash, Nebraska has been updated to “allow” with a source of “85-1802 For purposes of sections 85-1801 to 85-1817″ and Utah has been updated to “not allow.” Also, Colorado has been updated to “not allow” with an annotation of “Colorado legislature requires separate legislation to make changes, if state does decide to allow. Next session starts in January 2024.” Click the link to learn more, and bookmark to revisit as we will continue to update the status board as the latest information is received and incorporated over time.
529 Insiders, “3Q 2023 529 market sizing highlights.” Editor’s Take: What was the 529 market sizing as of 3Q 2023 (September 30, 2023)? Click the link to learn more.
MSRB (Municipal Securities Rulemaking Board), “Curious about 529 plans and ABLE programs?” Editor’s Take: The link provides access to MSRB’s investor guide to 529s, investment performance considerations for 529s, and investor’s guide for ABLE programs. For those seeking a resource on either product, this is a timely site to review and bookmark.
CSF (College Savings Foundation), “Holiday higher ed gifting stays strong in 2023, College Savings Foundation finds.” Editor’s Take: In preparation for the holiday season, 45% of parents report that they ask for 529 contributions. This aligns with the expansion of product enhancements facilitating the gifting functionality of 529s. Click the link to learn more.
Federal Reserve Bank of New York, “Total household debt reaches $17.29 trillion in Q3 2023; Driven by mortgage, credit card, and student loan balanced.” Editor’s Take: Student loans grew $30 billion to $1.6 billion as of 3Q 2023. Click the link to see the current and historical trends in student loans.

ABLE News & Research

Here is what you need to know from stories, research, and data released this week:

YouTube by The Autism Dad, “Saving money with ABLE accounts (featuring Sarah Pennington, ABLEnow).” Editor’s Take: On November 25, 2023, this educational podcast was released with a featured guest of Sarah Pennington of ABLEnow. The episode introduces ABLE accounts, provides an overview of how they work, and who they help. Watch, learn and share.
Municipal Securities Rulemaking Board (MSRB), “Investor’s Guide for ABLE Programs.” Editor’s Take: Useful guide for institutional administrators, state agencies and investors alike. Click the link to bookmark the guide to use, reference and share in the future.
529 Insiders, “3Q 2023 ABLE market sizing highlights.” Editor’s Take: What was the ABLE market sizing as of 3Q 2023 (September 30, 2023)? Click the link to learn more.