2011 529 PLAN
FOR COLLEGE SAVINGS ^4,5

 

Who May Establish	Investment Choices
Contribution Limits1	Withdrawals
Beneficiary	Qualified College Expenses
Control	Tax-Penalty Withdrawals
Minimum Investments	Rollovers
Growth Investments	Fees

Who May Establish
Anyone can contribute. No income limits for Account Owner.  

Contribution Limits¹
Up to $350,000³ as determined by state.
(After-tax contributions and growth earnings combined)

Beneficiary
Can be any U.S. citizen or legal U.S. resident, including the account owner. Beneficiary does not need to be related to account owner.

Control
Account owner maintains control of assets and decides when to make withdrawals. Account owner can change beneficiary.

Minimum Investments
$25 to $50 per month to start or $250 single deposits per fund.

Growth Investments
Earnings grow tax-free.

Investment Choices
Growth/Equity/Bond/Real Estate mutual funds, money market funds, and annuities.

Withdrawals
Withdrawals for qualified college expenses are tax-free.

Qualified College Expenses
Law, Medical, Technical or college/graduate/post graduate study school expenses such as tuition, mandatory fees, supplies and required equipment, textbooks, on/off campus room and board.

Tax-Penalty Withdrawals
Federal income tax and IRS 20% penalty on earnings for withdrawals not related to college expenses².

Rollovers
Yes. Transfers from one 529 Plan to another 529 Plan for same beneficiary once per year.

Fees
Annual maintenance fee may vary per company fund.

¹ Can invest up to $13,000 ($26,000 married couples) per year without gift-tax penalties.
² If applicable, state income tax may apply.
³ Contribution limit may vary per company.
⁴ Source: WWW.IRS.GOV 
⁵ Consult your tax advisor regarding tax consequences.

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