529 Plans

At Commerce Brokerage Services, we offer several tools to assist you with saving for future college education expenses. We will ask questions, listen to your situation, and offer solutions that fit your specific needs.

One solution is the 529 Plan, a state-sponsored investment program. The 529 Plan introduces an easy and effective way for families, including parents and grandparents, to save for future college expenses. Some key benefits of the 529 Plan are:

• Funds invested in a 529 Plan grow tax-deferred until withdrawn
• A 529 Plan is transferable to another beneficiary
• Funds withdrawn for qualified education expenses are free from federal income tax
• The Plan beneficiary can use money at any accredited college, university, or other institution of higher education
• Anyone is eligible - there are no income limitations or age restrictions
• You don't even need to be a parent to begin investing. Start a Plan for yourself, and use it for your own college education or later change the beneficiary to your child or an eligible family member
• Contribute up to $12,000 a year to the 529 Plan

With so many options available, many people are finding the 529 Plan to be a rewarding opportunity to invest in a child's future, or even your own future. For more information about 529 Plans, contact your local Commerce Brokerage Services, Inc. Click here to find a broker in your area.