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Home > Benefits > College Savings (529) > What Is a 529 College Savings Plan?
What Is a 529 College Savings Plan?
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Quick Answer

A 529 college savings plan is a tax-advantaged investment account designed to help families save for future education expenses.

 

Key Features

  • Funds can be used for qualified education expenses.

  • Contributions are made with post-tax dollars.

  • Investment growth may be tax-free when used for eligible expenses.

  • Accounts are owned and controlled by the account holder.

 

Helpful Tip

529 plans are flexible and can be used for children, grandchildren, or other eligible beneficiaries.

 

Important Reminder
Leeds West Groups (LWG) does not administer, manage, sponsor, or provide financial or investment advice related to 529 college savings plans. Team members are responsible for selecting a 529 plan, managing their account, choosing investments, and understanding applicable tax rules. Any decisions related to 529 plans are made independently by the team member. This information is provided for educational purposes only. LWG encourages team members to consult a financial advisor or tax professional if they have questions about how a 529 plan fits into their individual financial situation.

 

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Disclaimer:
This article provides general information and guidance and may not address every situation or state-specific requirement. It does not create a contract, guarantee, or promise of any specific outcome. Company policies, practices, and legal requirements may vary by state and may change over time. This article does not replace or supersede applicable laws or official Company policies, handbooks, manuals, or training materials.

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