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An ABLE account, also known as a 529 ABLE or 529A account, is a state-run savings program for eligible people with disabilities in the United States. Rules governing ABLE accounts are codified in Internal Revenue Code section 529A, which was enacted by the Achieving a Better Life Experience (ABLE) Act in 2014.
Key programs in the office are Bonds Services, Cash Management, Unclaimed Property, the Ag Loan and Housing Loan Deposit Programs and the Kansas 529 Education Savings Program, which has more than 143,000 accounts with total assets of over $2.7 billion. The Treasurer's office is a fee-funded agency.
529 plans are named after section 529 of the Internal Revenue Code—26 U.S.C. § 529.While most plans allow investors from out of state, there can be significant state tax advantages and other benefits, such as matching grant and scholarship opportunities, protection from creditors and exemption from state financial aid calculations for investors who invest in 529 plans in their state of ...
Thanks to a new rule from the IRS, up to $35,000 in unused funds in a 529 plan can be rolled over into a Roth IRA per beneficiary in a lifetime. This allows families to use unused funds to help ...
Excess 529 plan contributions can now take on a whole new purpose besides education costs that could prove even more valuable to the beneficiary.
While it was originally set up as a way to pay for the spiraling costs of college, the 529 has been expanded to include K-12 education, trade schools and other qualified programs. In addition, a ...
A member of the Republican Party, LaTurner was the 40th Kansas state treasurer from 2017 to 2021 and a state senator from the 13th district from 2013 to 2017. Upon his appointment as Kansas state treasurer by Kansas governor Sam Brownback, LaTurner became the youngest statewide official in the country. He was elected to the post in his own ...
A 529 plan can be used for college as well as for K ... “Roth IRA accounts have the same taxable benefits as a 529 account,” says Matt Boelter, senior director of financial planning at Edelman ...
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