News & Press Releases
Give the gift of a college education with Kentucky’s 529 Plan eGift Service
FRANKFORT, Ky. — The Kentucky Education Savings Plan Trust (KESPT) is encouraging families to include college savings on their gift lists this holiday season. KESPT’s simple and secure eGift feature enables account owners to send gift invitations to family and friends. There are also tax advantages to starting or adding to a KESPT 529 college savings plan account.
“Kids outgrow toys and clothes, but contributing to a child’s college education is a meaningful gift that will inspire young people to start thinking about their futures,” said David Lawhorn, KESPT program manager. “There are benefits to saving early while children are young, and our eGift service makes it easy for friends and family to give the gift of education.”
For those interested in making a gift contribution to a child’s account, KESPT offers downloadable gift certificates at kysaves.com for Christmas, Hanukkah and Kwanzaa (as well as non-holidays like graduations, birthdays and baby showers).
A KESPT account can be started with as little as $25 and can be used at any qualified institution in the nation. There are a variety of low-cost investment portfolios to choose from including age-based, multi-fund and guaranteed options.
The tax advantages associated with 529 plans make year-end a good time for families to review their savings strategies. Not only can earnings grow tax free in a KESPT account, but withdrawals are also tax-free when used to pay for qualified education expenses.
For more information about KESPT, tax advantages and the eGifting feature, visit kysaves.com or call toll-free 1-877-598-7878.
To learn more about the Kentucky Education Savings Plan Trust, its investment objectives, tax benefits, risks, and costs please see the Disclosure Booklet at kysaves.com. Read it carefully. Investments in the Plan are neither insured nor guaranteed and there is the risk of investment loss.
If the funds aren't used for qualified higher education expenses, a 10% penalty tax on earnings (as well as federal and state income taxes) may apply. Taxpayers should seek advice from an independent tax advisor based on their own particular circumstances.
TIAA-CREF Tuition Financing, Inc. (TFI), Plan Manager. TIAA-CREF Individual & Institutional Services, LLC, member FINRA/SIPC, distributor and underwriter for the Kentucky Education Savings Plan Trust.
No public funding is used for KESPT marketing, promotions or contest awards. Funding for marketing is provided by the program manager, TIAA-CREF Tuition Financing, Inc. (TFI).