Issue 348

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:

Ohio’s 529 Plan, CollegeAdvantage, “Ohio’s 529 Plan celebrates February as Career and Technical Education (CTE) month.” Editor’s Take: As qualified expenses for 529s continue to expand, so does the usefulness and utilization of 529s. Read the article to learn more about how to use 529s to support careers in technical education fields.
Texas Comptroller of Public Accounts, “Texas 529 Update.” Editor’s Take: February’s newsletter by the state’s 529 prepaid college tuition plan provides an update on enrollment deadlines, new benefits for 529 plan participants, and how families can create a comprehensive education financial plan by using 529 prepaid and savings plans together. Read to learn more, and thank you Texas for creating and sharing this newsletter.
529 Insiders, “4Q 2023 529 market sizing highlights.” Editor’s Take: What was the 529 market sizing as of 4Q 2023 (December 31, 2023)? Click the link to learn more.
529 Insiders, “Status Board: State Income Tax Treatment on 529 Distributions to Roth IRAs.” Editor’s Take: Effective 2024, certain types of qualified transfers from 529s to Roth IRAs will be allowed from a federal income tax perspective. From a state income tax perspective, this article categorizes the transfer as a qualified expense, non-qualified expense or decision pending from a state income tax recapture perspective for those that file state income tax with those states. This status board is for information purposes only based on publicly available information as of publication date, and you and your clients are responsible for determining the eligibility of a 529 distribution to a Roth IRA rollover. This article will be updated over time as more information becomes available. Current status board available in the link.

ABLE News & Research

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

IL ABLE, “Webinar for disability service providers.” Editor’s Take: Thank you IL ABLE for creating and presenting this upcoming webinar on Tuesday, February 13th, on opening and managing IL ABLE accounts for entities. The event is exclusively for leadership and staff of disability providers/entities that service their clients. Attend, learn and grow.
ABLE Today, “Talking ABLE with Pennsylvania State Treasurer.” Editor’s Take: Congrats to ABLE Today for creating and sharing episode 2 of their weekly webinar series with Sara Hart Weir and Mark Raymond Jr. This week’s edition covers PA State Treasurer’s efforts to raise awareness in her state, and with ASPN. Watch and listen to learn more.
529 Insiders, “4Q 2023 529 market sizing highlights.” Editor’s Take: What was the ABLE market sizing as of 4Q 2023 (December 31, 2023)? Click the link to learn more.