SACRAMENTO, CA--(Marketwired - Apr 18, 2013) - In support of Earth Day, ScholarShare, California's 529 college savings program, is encouraging everyone with a 529 college savings account to help the environment and reduce paperwork by enrolling in ScholarShare's e-Delivery feature, which sends account reports electronically. This feature is one of the many tools that make it easy for anyone to contribute to their child or loved ones' future college tuition costs.
Signing up for e-Delivery is simple and easy. Go to www.ScholarShare.com, log-in to your college fund account and click on "Change Account Statement Delivery" to modify your education savings account statement delivery to e-Statements. Once enrolled, you will start receiving all account statements and/or disclosure and privacy materials in PDF form online at no cost. Account statements for your college savings plan are normally available five business days after the end of each calendar quarter, and you will receive an automatic e-mail notice when your savings plan statement is available for online viewing.
It takes only $25 to open a new college savings account. A family interested in saving for college can check out ScholarShare's other online resource tools on their website. Through the "Give a Gift" option, any gift-giver can open an account or contribute to an existing one. College savings specialists are available for phone and in-person consultations to answer all questions.
ScholarShare continues to offer flexible features for anyone interested in starting a college savings plan. Any US citizen, or resident alien with a valid Social Security Number or Taxpayer Identification Number, can open a new account on behalf of a beneficiary. Funds can be used at any eligible educational institution in the nation, and some abroad, for a variety of qualified higher education expenses, including mandatory fees, books, supplies, or even certain room and board costs.
About the ScholarShare 529 College Savings Plan:
ScholarShare accounts may be opened with as little as $25 per investment portfolio. ScholarShare has no annual account maintenance fee, no income limit and offers a high maximum contribution limit. Established in 1999, ScholarShare currently holds more than $4.9 billion in assets in more than 243,000 accounts as of 03/31/13. Make sure all stats are accurate and current. To sign up for an account or for more information about the plan, visit http://www.scholarshare.com/. For information about the ScholarShare Investment Board (SIB), visit www.treasurer.ca.gov/scholarshare. Like ScholarShare on Facebook at www.facebook.com/scholarshare529 and follow us on Twitter at @ScholarShare529.
Named for the section of the IRS code under which they were created, 529 plans offer valuable tax advantages. Contributions are made with money that has already been taxed. Once funds are placed in the account, investment earnings, if any, are not taxed. As a result, any funds withdrawn from the account to pay for qualified college costs are not subject to federal or state taxes.
Consider the investment objectives, risks, charges and expenses before investing in the ScholarShare 529 College Savings Plan. Please visit www.scholarshare.com for a Program Disclosure Booklet containing this and other information. Read it carefully.
Before investing in a 529 plan, you should consider whether the state you or your Beneficiary reside in or have taxable income in has a 529 plan that offers favorable state income tax or other benefits that are only available if you invest in that state's 529 plan.
The tax information contained herein is not intended to be used, and cannot be used, by any taxpayer for the purpose of avoiding tax penalties. Taxpayers should seek advice based on their own particular circumstances from an independent tax advisor. Non‐qualified withdrawals may be subject to federal and state taxes and the additional federal 10% tax. Non-qualified withdrawals may also be subject to an additional 2.5% California tax on earnings.
Investments in the Program are neither insured nor guaranteed and there is the risk of investment loss.
The ScholarShare 529 College Savings Plan Twitter and Facebook pages are managed by the state of California.
TIAA‐CREF Tuition Financing, Inc., Program Manager.
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