Issue 349

529 Dash, Required Reading for Your 529 Education:
The goal of the 529 Dash is to help institutions and financial professionals who help families and employers in the education financial planning process by creating and sharing industry relevant news, product training, market data and best practices, while also building awareness and understanding of the importance of 529 plans and ABLE accounts.

Please Read, Engage and Share.

Paul Curley, CFA
Associate Director
529 & ABLE Solutions, ISS Market Intelligence
paul.curley@issmarketintelligence.com
Twitter: @PaulCurleyBC

529 News & Research

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

Vestwell, “2024 savings trends report.” Editor’s Take: Thank you Vestwell for creating and sharing this report on employer trends including the percentage of savers familiar with 529s, percentage using 529s, and more. Read, learn and share.
YouTube by Ramsey Everyday Millionaires, “Should we sve money in a 529?” Editor’s Take: Dave Ramsey provides his response to this common question from a 529 accountowner on February 16, 2024. Listen to his take on using 529s to save and pay for educational expenses.
529 Insiders, “4Q 2023 529 market sizing highlights.” Editor’s Take: What was the 529 market sizing as of 4Q 2023 (December 31, 2023)? Click the link to learn more.
VettaFi Advisor Perspectives, “The law and strategies to convert a college 529 to a Roth” by Allan Roth. Editor’s Take: Thank you Allan Roth for covering this topic, and for quoting and sourcing ISS Market Intelligence.
- 529 Insiders, “Status Board: State Income Tax Treatment on 529 Distributions to Roth IRAs.” Editor’s Take: Effective 2024, certain types of qualified transfers from 529s to Roth IRAs will be allowed from a federal income tax perspective. From a state income tax perspective, this article categorizes the transfer as a qualified expense, non-qualified expense or decision pending from a state income tax recapture perspective for those that file state income tax with those states. This status board is for information purposes only based on publicly available information as of publication date, and you and your clients are responsible for determining the eligibility of a 529 distribution to a Roth IRA rollover. This article will be updated over time as more information becomes available. Current status board available in the link.

ABLE News & Research

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

Vestwell, “2024 savings trends report.” Editor’s Take: This report included a spotlight on ABLE savings accounts, including a pie chart on the familiarity of savers with ABLE accounts. Read the report to find the results, and thank you Vestwell for creating and sharing this insightful data.
SoundCloud Audio, “ABLE: Episode 11 – Five tips to establish your financial plan for the new year.” Editor’s Take: Thank you ABLE United for collaborating on the creation of this podcast with Edward Kemm, a certified Long-Term Care (CTLC) Private Wealth Advisor. Listen, learn and grow.
529 Insiders, “4Q 2023 529 market sizing highlights.” Editor’s Take: What was the ABLE market sizing as of 4Q 2023 (December 31, 2023)? Click the link to learn more.