Nevada's legislature is getting on the college savings plan bandwagon. Or at least they are pushing the state's employers to get on it. The state's governor -- Brian Sandoval
-- has put his signature on a bill offering a new tax credit for employers that match their employees 529 plan contributions.
Senate Bill 412 gives a tax credit to employers who make a matching contribution to employees participating in a qualified 529 college savings plan. The bill will allow a 25 percent tax credit on match contributions up to $500 per employee.
The tax credit will be effective January 1, 2016.
is the administrator to the three Nevada plans: SSgA Upromise 529 Plan
], USAA 529 College Savings Plan
] and the Vanguard 529 Savings Plan
] manages a fourth program for the state (the Putnam 529 for America
Nevada state treasurer, Dan Schwartz
, stated that this credit is another tool for "longer-term financial planning" and "we have seen how the 401(k) industry has dramatically improved the nation's retirement landscape."
State Senator Beck Harris (R-Nevada)
calls this bill "a game changer." Harris co-sponsored the bill with Mark Lipparelli
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