SACRAMENTO, CA--(Marketwire - Apr 20, 2012) - ScholarShare, California's 529 college savings program, is celebrating Earth Day by reminding everyone with an 529 college savings account that they can go green by signing up for e-Delivery. With ScholarShare's e-Delivery feature, all paperwork normally mailed to account holders will be sent electronically. This is a great way to reduce the added clutter and costs of paperwork and do something great for the environment. ScholarShare's e-Delivery makes it easy for families to track their account as they contribute to their children's or loved ones' future college tuition costs.
Signing up for e-Delivery is simple and easy. Upon reaching our website, log-in to your college fund account and click on "Change Account Statement Delivery." Once enrolled, you will start receiving all account statements and/or disclosure and privacy materials in PDF form online at no additional cost. Account statements for your college savings plan are normally available five business days after the end of each calendar quarter.
It takes only $25 to open a brand new college savings account and Earth Day marks a great time for anyone to begin contributing towards future college tuition costs while helping preserve the environment. A family interested in saving for college can check out ScholarShare's other new online resource tools on their website. Through the "Give a Gift" option on its website, any gift giver can open an account for children of all ages or contribute to an existing account. College savings specialists are available for phone and in-person consultations at no additional cost to answer all questions.
ScholarShare continues to offer flexible features for anyone interested in starting a plan to invest for the future cost of college. 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 online 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 of $350,000. The program currently holds more than $4.4 billion in assets as of 3/31/2012. More than 300,000 accounts have been opened since ScholarShare's inception in 1999. To sign up for an account or for more information about the plan, visit http://www.scholarshare.com/. For information about the SIB, visit www.treasurer.ca.gov/scholarshare. Follow ScholarShare on Twitter at @ScholarShare529.
Named for the section of IRS code under which they were created, 529 plans are highly regarded for their tax-advantaged status. Any earnings on investments can grow tax-deferred. Withdrawals, when used for tuition and other qualified higher education expenses, are federal and state income tax-free.
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 page is managed by the state of California.
TIAA‐CREF Tuition Financing, Inc., Program Manager.
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