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May 29, 2019

Alabama State Treasurer’s Office to Host 5th Annual College Savings Giveaway in Honor of 5/29 Day

CollegeCounts, Alabama’s 529 Fund, will celebrate 5/29 day (May 29) with a fifth annual statewide giveaway focused on babies born between May 29, 2018 and May 29, 2019. CollegeCounts will randomly select 29 winners to receive $529 in contributions to an existing or newly opened CollegeCounts account.

Beginning May 29, 2019 parents, grandparents and legal guardians can visit CollegeCounts529.com/giveaway to register by entering their contact information and the child’s name and date of birth. Selected winners must provide a birth certificate or commemorative birth announcement to receive funds.

“We encourage families to begin saving for college early and as often as possible,” said Alabama State Treasurer John McMillan. “Planning ahead and having a long-term plan for their kids’ higher education, can help ease the stress and worry parents have about the future costs of college education. The goal of the 5/29 Day Promotion is to ease parents’ minds about this important future expense and educate them on the benefits that CollegeCounts provides.”

CollegeCounts has no minimum contribution requirement, making it easy for families and friends to invest a little at a time. The plan utilizes quality investments from Vanguard, T. Rowe Price, Fidelity, PIMCO, Dodge and Cox, Mainstay and DFA. “By starting to save early your investments have the potential to grow. The more you can save now, the less you have to borrow in the future. We are proud to offer this savings program and believe it will make a significant impact on the lives of future generations,” added McMillan.

Under Section 529 of the IRS tax code, special tax benefits are provided to families saving for future college expenses. In addition, Alabama taxpayers may receive a generous state income tax deduction of up to $10,000 for married couples filing jointly ($5,000 for single filers)1 on contributions to CollegeCounts each year.

Funds may be withdrawn and used at colleges, universities, trade schools and graduate schools at one-, two- and four-year schools in Alabama and across the U.S. – including vocational, technical, community, public and private colleges and universities – for qualified expenses like tuition, fees, room and board (if enrolled at least half-time), books, supplies, and equipment required for enrollment, including computers.

To enter a child born between May 29, 2018 and May 29, 2019 in the 5/29 Day Giveaway, please visit CollegeCounts529.com/giveaway. No purchase necessary to enter or win a prize. All entries must be submitted by July 13, 2019. The 29 winners will be contacted by July 25, 2019.

For information on how to open an account, please visit CollegeCounts529.com. To learn more about CollegeCounts, the investment objectives, risks and costs, read the Program Disclosure Statement available online.

 

About CollegeCounts
The CollegeCounts 529 Fund is a qualified tuition program under Section 529 of the Internal Revenue Code that is offered by
the State of Alabama, administered by the Board of Trustees of the ACES Trust Fund (the “Trust” and plan issuer), marketed as
the CollegeCounts 529 Fund, Union Bank & Trust Company serves as Program Manager. And Northern Trust Securities serves
as Distributor of the advisor-sold plan. Accounts and investments under the CollegeCounts 529 Fund are not insured or
guaranteed by the FDIC, the State of Alabama, the State of Alabama Treasurer, the Board, the Trust, the Program, Union Bank &
Trust Company, Northern Trust Securities or any other entity. Investment returns are not guaranteed, and you could lose
money by investing in the Plan.
1Individuals who file an Alabama state income tax return are eligible to deduct for Alabama state income tax purposes up to $5,000
per tax year ($10,000 for married taxpayers filing jointly if both actually contribute) for total combined contributions to the Plan and
other State of Alabama 529 programs. The contributions made to such qualifying plans are deductible on the tax return of the
contributing taxpayer for the tax year in which the contributions are made. In the event of a Nonqualified Withdrawal from the Plan,
for Alabama state income tax purposes, an amount must be added back to the income of the contributing taxpayer in an amount of
the Nonqualified Withdrawal plus ten (10%) percent of such amount withdrawn. Such amount will be added back to the income of
the contributing taxpayer in the tax year that the Nonqualified Withdrawal was distributed. Please consult with your tax professional.
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