Editor's Picks

Issue 238:
– News & Research
– ABLE Act Column
– 529 Conference 2021

529 Dash, Required Reading for Your 529 Education:
 The goal of the 529 Dash is to address the specific needs and concerns of institutions, advisers and financial professionals 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
Director of Savings Research
529 & ABLE Solutions, ISS Market Intelligence
Twitter: @PaulCurleyBC

News & Research: Article Round-Up

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

  • 529 Insiders, “Status Board: SECURE Act 529 State Updates.” Editor’s Take: Arkansas was updated from “Not Clear or Decision Pending” to “Allow Student Loans & Allow Apprenticeship Withdrawals State Tax Free.” Click the link to view the current status board.
  • ISS Market Intelligence, “Monthly Webinar Replay – 2020 Impact on the 529 Industry.” Editor’s Take: Watch the replay of the webinar from February 24th on how 2020’s impact on the 529 industry compares to the great recession of 2008, how advisers have adapted to the industry landscape, and how the industry is increasing transparency and awareness through partnerships like Nasdaq Fund Network and BlackRock.
  • Dave Ramsey, “Coronavirus and your taxes: What you need to know.” Editor’s Take: Number 7 includes a case scenario on 529 plan refunds, and what families should do with the refunds. Click to learn more.
  • NAPA, “Fidelity: 401(k) account balances rebound to record levels.” Editor’s Take: While not directly 529 or college financial planning related, the article does provide insight on market trends in other goals-based investment vehicles and therefore provide insight into the 529 market in 2020 as well. For example, the increased usage in target date funds and higher savings rates both provide benchmarking to the 529 industry as well. Read to learn more.
  • FAFSA Simplification: These two articles provide an update on the upcoming changes to FAFSA. Not like EFC? Well good, as EFC (Expected Family Contribution) will soon be replaced by the Student Aid Index (SAI). Learn about this change and more in these two articles:
    1. Saving for College, “How FAFSA Simplification will change financial aid eligibility”
    2. The College Solution, “New FAFSA Changes – Winners and Losers”
  • 529 Insiders, “4Q 2020 529 & ABLE Market Sizing Highlights.” Editor’s Take: What was the 529 and ABLE market sizing as of 4Q 2020? Read the article to learn more.
ABLE Act Column

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

  • Congress.gov, “S.331.” Editor’s Take: On February 22, 2021, six cosponsors introduced the ABLE Age Adjustment Act in the U.S. Senate (S.331). On February 23, 2021, the U.S. House of Representatives introduced the house partner bill.  The Senate version is in the link in case you would like to learn more about the details of the bill, and ISS Market Intelligence will continue to track and report on the progress of this important bill that will help so many families nationwide. In the meantime, congrats to the members of congress, state agencies, and families nationwide that have been working to support this legislation.
  • IL ABLE, “5 things financial advisors much know about IL ABLE accounts.” Editor’s Take: Thank you IL ABLE for creating and sharing this timely and important list, and click the link to test your insight on ABLE accounts as well.
Events: 529 Conference 2021

When: November 2-4, 2021
Ritz-Carlton Orlando, Grande Lakes
The 529 Conference is a highly interactive and educational industry gathering where you’ll learn from and network with the entire 529 and ABLE ecosystem to ensure product training, insight and networking across the 529 and ABLE community.

Updates: Please save the date of November 2-4, 2021.

March 1st, 2021
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