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Pennsylvania


Pennsylvania 529 Guaranteed Savings Plan


5 Cap Ratings
(Resident Rating) (Non-Resident Rating)

Summary
In the Pennsylvania 529 Guaranteed Savings Plan, Pennsylvania residents acquire units that increase in value over time to track average tuition increases in one of several school categories as selected by the participant. The ability to switch categories retroactively makes this a flexible option to lock in tuition no matter which particular college the beneficiary attends. Accounts can be linked to the Upromise rewards service.

Program Details
Summary: In the Pennsylvania 529 Guaranteed Savings Plan, Pennsylvania residents acquire units that increase in value over time to track average tuition increases in one of several school categories as selected by the participant. The ability to switch categories retroactively makes this a flexible option to lock in tuition no matter which particular college the beneficiary attends. Accounts can be linked to the Upromise rewards service.
Program type: Guaranteed savings
Enrollment period: Open year-round. Price change each year on September 1.
State residency requirements: The account owner or beneficiary must be a Pennsylvania resident at the time of program enrollment.
Maximum contributions: Accepts contributions until all account balances in Pennsylvania's 529 plans for the same beneficiary reach $452,210.
Minimum contributions: $15 per transaction; $25 minimum contribution through Ugift.
Current value of one unit: Determined by the "Tuition Inflation Rate" for the "Tuition Level" selected by the participant; may be reduced with a non-qualified withdrawal to the "net earnings rate" of the program fund's investments but not below the participant's contributions less fees.
Current unit price: Varies by the "Tuition Level" selected by the participant.
Are program benefits backed by the full faith and credit of the state? No
Are program benefits collateralized or guaranteed in any other way? No
State tax deduction or credit for contributions: Contributions to Pennsylvania AND non-Pennsylvania 529 plans of up to the gift-tax annual exclusion amount ($14,000 in 2014) per beneficiary are deductible in computing Pennsylvania taxable income. Spouses filing jointly must each have at least $14,000 in income to claim the maximum $28,000 per-beneficiary deduction. Rollovers from another 529 plan or from qualified U.S. savings bonds are not eligible for the deduction.
Web site: Click here to visit
Telephone: 1-800-440-4000
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