PA Treasurer Rob McCord and PA 529 College Savings Program Celebrate “529 Day” at Please Touch Museum
Families encouraged to join festivities, register to win one of five $529 college savings accounts at PA529.com
Philadelphia – State Treasurer Rob McCord today encouraged visitors to Please Touch Museum to get started on the path to saving for higher education with the PA 529 College Savings Program. The program offers great tax benefits and can help to make higher education more affordable.
Treasurer McCord and representatives of the PA 529 College Savings Program visited the museum to mark “529 Day,” a day dedicated to raising awareness about the importance of saving for college.
“For over 35 years, Please Touch Museum has given children the opportunity to learn basic life skills like cooperation, negotiation, and problem solving through their innovative exhibits,” said Treasurer McCord. “The type of imaginary play that is offered here can help inspire children to be the next great doctor, teacher, or scientist, and the Pennsylvania 529 College Savings Program can help their families make these big dreams reality.
“I hope parents will take advantage of our 529 Day promotions, including free enrollment and the chance to win a $529 college savings account, while their kids play in the museum. It’s a great time to open and contribute to a PA 529 account.”
Treasurer McCord said many financial experts consider 529 college savings plans to be one of the best ways to save for college because of important tax advantages. Families that save through either of the program’s two 529 plans can receive tax-deferred growth on earnings and tax-free withdrawals when funds are used for qualified educational expenses.
As president and CEO of Please Touch Museum, Laura Foster understands the importance of investing in future generations.
“It is our mission to enrich the lives of children by creating learning opportunities through play,” said Ms. Foster. “The PA 529 program will help families ensure that their child’s love of learning is nurtured for years to come.”
Treasurer McCord said two special “529 Day” incentives make May a particularly valuable time for families to get started saving. The PA 529 College Savings Program is sponsoring a chance to win one of five $529 PA 529 college savings accounts at PA529.com. Registrations must be received by May 31.
The Pennsylvania Treasury offers two great tax-advantaged 529 plans to help prepare for future higher education costs – the PA 529 Guaranteed Savings Plan (GSP) and the PA 529 Investment Plan (IP).
The primary difference between the two plans is the way savings grow. Growth in the PA 529 GSP is based on tuition inflation. For example, if you save enough for a semester at one of Pennsylvania’s State System of Higher Education universities today, you will have enough for a semester there in the future – no matter when or how much tuition has gone up in the meantime. Returns in the PA 529 IP are based on financial market performance. The PA 529 IP features low fees and more than a dozen conservative and aggressive investment options from The Vanguard Group, one of the nation’s largest financial services companies.
To encourage more families to save for college in a tax-advantaged way, the PA 529 College Savings Program is offering free enrollment – a $50 savings – for all new PA 529 Guaranteed Savings Plan (GSP) accounts opened by May 31 at www.PA529.com. Families should use code: TimeFlies when prompted. There is no enrollment fee in the PA 529 IP.
“The fact that another school year is about to conclude is a reminder of just how quickly our children grow, and yet the sad reality is the costs of a higher education seem to grow faster,” Treasurer McCord continued. “I hope 529 Day prompts families to open an account and cross ‘saving for college’ off their to do list once and for all.”
To learn more about the PA 529 College Savings Program or to enter the college savings sweepstakes, visit PA529.com or call 1-800-440-4000.
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The Pennsylvania 529 College Savings Program sponsors two plans - the PA 529 Guaranteed Savings Plan (GSP) and the PA 529 Investment Plan (IP). The guarantee of the PA 529 GSP is an obligation of the GSP Fund, not the Commonwealth of Pennsylvania or any state agency. Before investing in either plan, please carefully read that plan’s disclosure statement (available at www.PA529.com or by calling 1-800-440-4000) to learn more about that plan, including investment objectives, risks, fees, and tax implications.
Please Touch Museum®, the Children's Museum of Philadelphia™, is designed for families with young children and features six interactive exhibit zones, daily activities and theater performances. Housed in historic Memorial Hall in Fairmount Park, the museum also offers on-site parking, a family-friendly cafe and a century-old carousel! www.pleasetouchmuseum.org
Media contact: Elizabeth Foose, 717-787-2991 or news@patreasury.gov
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