Celebrate education on 529 Day and start saving now!
Open a CHET 529 account between May 24 and 26, 2017, with a minimum $100 deposit and enroll in the Automatic Contribution Plan at $25 each month for six months – and we will add $50 to your account.
And, as a Connecticut taxpayer, you could enjoy additional state tax benefits. Limitations apply.1
Benefits of a CHET 529 College Savings Plan:
- Tax Advantages Provide Growth Opportunity
Your earnings, if any, are free from federal income tax when used for qualified expenses. In the meantime, your contributions are reinvested automatically so your account can grow more than a taxable account over the same period. Learn more.
State Income Tax Information
In addition to federal tax benefits, there are state tax benefits as well. For CHET, tax treatment is as follows: Contributions are deductible for Connecticut income tax purposes up to $5,000 per year for a single return or $10,000 per year for a joint return. If you exceed this amount, you can carry over the excess amount for the five taxable years following the deduction. An incoming rollover from another qualified tuition program does not qualify as contribution for income tax purposes. Earnings, Qualified Withdrawals and outgoing Rollovers are not subject to state income tax. Connecticut tax benefits related to CHET are available only to Connecticut tax payers. You should talk to a qualified advisor about how Connecticut tax provisions affect your circumstances.
- Use at Schools Anywhere
Funds can be used at any accredited university, college or vocational school nationwide — and many abroad. Basically any institution with a student aid program qualifies. Learn more.
- Easy and Convenient
With CHET you can manage your account your way, either online or by mail. By setting up automatic contributions from your bank account or by payroll deduction (if supported by your employer), making regular contributions is hassle free. Learn more.
It only takes 15 minutes to get started and it’s a great way to save for qualified higher education expenses with tax-free investment growth opportunity.
The CHET direct-sold plan is administered by the Office of Connecticut State Treasurer Denise L. Nappier.
1To learn more about the Connecticut Higher Education Trust, its investment objectives, tax benefits, risks, and costs please see the Disclosure Booklet at aboutchet.com. Read it carefully. Investments in the Plan.
Taxpayers should seek advice from an independent tax advisor based on their own particular circumstances.
Visit aboutchet.com/529day for terms and conditions. Promotion ends 5/26/17. Sponsored by the Connecticut 529 College Savings Plan.
TIAA-CREF Individual & Institutional Services, LLC, member FINRA, distributor and underwriter.