College Savings Plan
Muncie Community Schools offers all employees the opportunity to enroll in a CollegeChoice 529 plan. CollegeChoice 529 is the smart, affordable way to save for college.
Tax advantages- Earnings grow tax deferred, and Indiana taxpayers are eligible for a state income tax credit of 20% of contributions to a CollegeChoice 529 account, up to $1,000 credit per year.
Flexible- Use your account at any eligible 2- or 4-year college, vocational school, or technical institute around the country.
Affordable- Minimum of $25 for initial and ongoing contributions.
Employees have the option to make contributions by personal check or electronically through automatic investment plan, payroll deduction, or electronic fund transfer. (Payroll deduction is only available to non-bargaining unit employees).
For additional information, go to www.indianas529.com or call 1-866-485-9383.
- The Best Way to Save for College: A Complete Guide to 529 Plans
by Joseph Hurley, CPA