Editor's Picks

– News & Research
– Data
– ABLE Act Column
– State-Sponsored Retirement Savings Column
– Events

529 Dash, Required Reading for Your 529 Education: The goal of the 529 Dash is to address the specific needs and concerns of advisers and institutions who sell and service families and employers in the education financial planning process by creating and sharing industry relevant news, product training and best practices, while also building awareness and understanding of the importance of 529s, ABLE accounts and education financial planning.

Please Read, Engage and Share.

Paul Curley, CFA
Editor-in-Chief of 529 Dash
Director of College Savings Research
Twitter: @PaulCurleyBC

News & Research: Article Round-Up

Here is what you need to know from stories, research and data released this week:

  • Harvard Business School, “How to get people addicted to a good habit.” Editor's Take: When applying the lessons from the article to education financial planning, advisers and industry participants should note that even a small incentive can create the habit of saving and saving efficiently for higher education for a family. The largest impact comes from there being an incentive to build the habit, while there is only an incremental impact coming from the size of the incentive. Therefore, think through the incentive that would align best with your specific client or audience, and have the education financial planning discussion today.
  • 529 Insiders, “Status board: K-12 state updates.” Editor's Take: New Mexico has been updated on the status board from “Not Clear or Decision Pending” to “Not Allow K-12 Withdrawals State Tax-Fee. Strategic Insight will continue to monitor the industry landscape, make updates to the status board in the 529 Insiders and report the updates in the 529 Dash.
  • CNBC, “Is your 529 savings plan in the red? Tuition may still be due.” Editor's Take: Video includes insight from Doug Boneparth, and learn more about his perspective on college financial planning in the 529 Insiders article here.

Data: 3Q 2018 529 and ABLE Market Sizing Update

Here is the latest 529 and ABLE market data by Strategic Insight that can be used by the media and other organizations.

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ABLE Act Column

ABLE accounts are tax-advantaged savings accounts for certain individuals with disabilities and their families. News, Research, Data & Resources:

  • Planadviser, “Three key insights plan sponsors and advisers should know about special needs planning.” Editor's Take: Article includes a section on how advisers can add value in the special needs planning process. Thank you for including, and getting the message out about the importance of special needs planning and ABLE accounts.
  • Charleston Gazette-Mail, “WV among first states to use law to help disabled.” Editor's Take: The article includes quotes and a story from an accountholder's perspective. Read the article to learn more.
  • Disability Scoop, “IRS reminding people with disabilities about new ABLE account rules.” Editor's Take: Important reminder about the implementation and impact of ABLE accounts now qualifying for the Saver's Credit. The reminder was also included in the Newsday article here titled, “ABLE accounts: Even more able after tax reform.”

Events: Strategic Insight ABLE Summit 2019 will be held on September 25, 2019, at the Ritz-Carlton, Amelia Island, Florida, to deliver product training, insight and networking opportunities to support the successful implementation and growth of ABLE accounts. Please save the date, and thank you for the support.

State-Sponsored Retirement Savings Column

State-sponsored retirement savings plans are tax-advantaged retirement savings accounts offered through private sector companies and administered by states. News, Research, Data & Resources:

  • Employer Benefit News, “Oregon calling on other states to roll out retirement plans.” Editor's Take: State-run retirement programs are poised for growth as Oregon has announced that they are open to partnering with other states looking to offer their residents a program. Also, thank you Michael Parker, executive director of the Oregon Savings Network, for your insight and quotes in the article. Read the article to learn more.
  • Sacramento Bee, “CalSavers will enable 7.5 million more workers to start preparing for retirement.” Editor's Take: Timely overview and update on the launch of the CalSavers program.
  • CNBC, “States push forward with expanding retirement savings as congressional bills die.” Editor's Take: While legislative enhancements to retirement planning at the Federal level may have stalled in 2018, state-run retirement plans gained traction with the launch of several plans in 2018 and the momentum is set to continue in 2019.

Events: SI 529 Conference 2019

Save the Date: Strategic Insight 529 Conference 2019 will be held from September 23-25, 2019, at the Ritz-Carlton, Amelia Island, Florida. Sessions:

  • 529 Conference: A highly interactive and educational industry gathering with the entire education financial planning ecosystem.
  • 529 Essentials: A pre-conference session to train professionals on 529 plans and education financial planning in a constantly evolving market.
  • ABLE Summit: A post-conference session to deliver training, insight and networking opportunities to support the successful implementation and growth of ABLE accounts.

Strategic Insight Research: Report Released

Strategic Insight is pleased to announce the release of the 529 Distribution Analysis 2018 report. This annual study analyzes an array of Strategic Insight sourced proprietary survey data and insights. Purpose of the Study:

  • Details initiatives 529 product providers and distributors can execute to add value in the intermediary channel
  • Reviews key drivers to help product providers and distributors to increase demand for college financial planning and usage of college savings plans
  • Evaluates 529 industry market sizing and trends to understand what will drive and maximize industry growth over the long term from a legislative, product, marketing, and distribution perspective

Click the link to learn more about the report.

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December 31st, 2018
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