Wisconsin 529 College Savings Plan – Edvest College Savings Plan

Wisconsin 529 College Savings Plan

Is Going to College Worth It Anymore?About: The Edvest College Savings Plan is a state-sponsored, tax-advantaged 529 college savings plan that’s helping families and individuals plan for the cost of higher education. It’s available to any citizen or taxpayer. And just about anyone can help contribute including Grandparents, other family members, and friends.

Website: https://www.edvest.com/

Phone #: 1-888-338-3789

Investment Options: TIAA-CREF succeeded Wells Fargo as manager of Wisconsin’s Edvest 529 savings program in October 2012. The revised program features two age-based options, eight static portfolio options, and five individual fund options utilizing mutual funds from TIAA-CREF, DFA and PIMCO. A CD option and a principal plus interest option are also available.

Tax Benefits: Edvest offer unsurpassed income tax benefits. Although contributions are not deductible on your federal tax return, any investment earnings can grow tax-deferred, and distributions to pay for the beneficiary’s college costs come out federally tax-free. There’s no federal gift tax on contributions up to $14,000 per year for single filers and $28,000 for married filers. There’s even an option to gift amounts up to $70,000 for single filers and up to $140,000 for married filers if pro-rated over 5 years.

State Residency Requirements: The account owner or the beneficiary must be a Wisconsin resident at the time of program enrollment.

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