The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Four Fund Shops Stand to Gain From a State's 529 Boost Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, July 16, 2015

Four Fund Shops Stand to Gain From a State's 529 Boost

Reported by Kamaron Leach

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.

Ascensus is the administrator to the three Nevada plans: SSgA Upromise 529 Plan[profile], USAA 529 College Savings Plan[profile] and the Vanguard 529 Savings Plan[profile].

Putnam Investments[profile] 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.  

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2021
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use