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Elementary School Read-a-thon Winners
Manti Elementary in South Sanpete School District and Wellington Elementary in Carbon School District are the winners of the my529/Road to Success Read-a-Thon, which marks 5·29 College Savings Day, a national day to promote saving for higher education with a tax-advantaged 529 plan.
“my529 is excited to celebrate 5-29 Day during May by providing an incentive for students in the state of Utah to help reach their educational goals,” said Lynne Ward, my529 executive director. “That is the core of my529’s mission, to help children as they work toward their college and career dreams. It’s especially important to us to support education efforts right in our own communities.”
Students at the two elementary schools averaged more minutes of reading from April 1 to April 7 than their peers in 20 other elementary schools statewide that participated in the read-a-thon. Manti Elementary averaged 570 minutes read, and Wellington Elementary averaged 386 minutes read. Statewide, students at the 22 schools participating in the read-a-thon read a total of 976,870 minutes.
Each school will use its award to buy books and other resources for its library media center to support the school’s curriculum.
Matching Contribution Promotion
As part of 5·29 College Savings Day, my529 will provide a $25 matching contribution to Utah residents new to my529 who open a my529 account(s) for a new beneficiary between May 28 and May 30, 2019. Contribute $25 or more to the new account, and use the promo code 529Day2019 to be eligible for the my529 match as long as promotional funds are available. New account owners from Utah will also receive an additional $15 contribution if they set up six consecutive months of automatic contributions after signing up.
Go to www.my529.org/529Day for details on the promotion.
“my529 is glad to match contributions for National 529 College Savings Day to encourage parents to start investing for higher education,” Ward said. “Saving even small amounts in a low-cost my529 account can go a long way toward providing for future college costs. With no minimum deposit or balance requirement, my529 is accessible and affordable for families in all income brackets.”
Earnings on contributions to a my529 account grow federal and Utah state income tax-deferred. Withdrawals are also tax-free when used for qualified higher education expenses. Utah taxpayers can claim a 5 percent Utah state tax credit on contributions up to $2,000 per qualified beneficiary in 2019 if the designated beneficiary was age 18 or younger when designated as such on the account.
Utah taxpayers who are married and filing a joint tax return can claim a 5 percent Utah state income tax credit per qualified beneficiary for contributions up to $4,000.
Qualified expenses include:
Wednesday May 29, 2019
May 28 - May 30
Online - Go to www.my529.org/529Day for details on the promotion.
As part of 5·29 College Savings Day, my529 will provide a $25 matching contribution to Utah residents new to my529 who open a my529 account(s) for a new beneficiary between May 28 and May 30, 2019. Contribute $25 or more to the new account, and use the promo code 529Day2019 to be eligible for the my529 match as long as promotional funds are available. New account owners from Utah will also receive an additional $15 contribution if they set up six consecutive months of automatic contributions after signing up.
Bryn Ramjoue
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