Indiana State Treasurer Kelly Mitchell is excited to announce that CollegeChoice 529 Savings Plans have been named top-performing plans by SavingforCollege.com based on investment performance during the fourth quarter of 2020. CollegeChoice Direct 529 Savings Plan peaked at #2 for 3-year investment performance, with CollegeChoice Advisor 529 Savings Plan securing the #1 ranking for 10-year investment performance.
“529 Savings Plans are powerful tools for Hoosiers investing for future education,” said Treasurer Mitchell. “Today’s accolades are well-earned, and we are grateful for the opportunity to support families in achieving their savings goals.”
CollegeChoice 529 enables account owners and gift contributors to save for a beneficiary’s education at any eligible school or qualified apprenticeship program. Accounts grow tax-deferred and distributions are tax-free as long as the money is withdrawn to pay for qualified higher education expenses like tuition, room and board, books, computers and fees.
Indiana taxpayers may also be eligible for an annual state income tax credit of 20 percent of contributions to their CollegeChoice 529 accounts, worth up to $1,000 each year ($500 for married couples filing separately).
“We’re proud of our growth, but we know that you can’t take market performance for granted. That’s why we offer a variety of investments – from age-based portfolios to FDIC-insured options – to meet the unique needs of each saver. With minimum contributions as low as $10, today is a great day to start saving for future education,” said Marissa Rowe, Executive Director of the program.
For more information, visit http://www.collegechoicedirect.com/plans.