Don't spend it all in one place

December 2008
Employee Benefit News;Dec2008, Vol. 22 Issue 15, p56
The article discusses a change in New York State law allowing third-party contributions to a student's 529 college savings plan. Before it was amended in early 2008, the law previously only allowed contributions to be made to a college savings account held for a beneficiary, college-bound child by the actual account holder. It was also confirmed that there are no tax deductions available for friends and family members, even if they also reside in the state.


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