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Morningstar - The Modern 529 Plan

yogibearbullyogibearbull
edited June 5 in Other Investing
M* - The Modern 529 Plan

Many limitations or deficiencies of 529 have been eliminated due to various legislations. Many 529 plans have also improved. But many people aren't familiar with these changes.

Timeline

2008 Heart Act
Rollover of unused 529 to 529-ABLE (rules apply).

2010 Small Business Jobs Act
Temporary: Computer equipment became qualified educational expense.

2014 Tax Increase Prevention Act
Extension, 2014: Computer equipment became qualified educational expense.

2015 Path Act
Permanent: Computer equipment became qualified educational expense.

2017 Tax Cuts & Jobs Act (TCJA)
$10K/yr for K-12 tuition.

2019 Secure Act 1.0
Limited student loan payments.
Apprenticeship/vocational training expenses allowed.

2022 Secure Act 2.0
Limited Roth Rollovers.
Employer match for 529 contributions.

2024 FAFSA Simplification Act
Grandparent 529 penalty removed.

https://www.morningstar.com/financial-advisors/modern-529-plan

Comments

  • catch22catch22
    edited June 5
    Hi @yogibearbull Thank you for the list and updates. The Secure Act 2 for 529's has been discussed here. We've pushed this plan to others for years. And we've recently taken advantage of the Roth rollover twice. This provision is a very nice bump to a young person's retirement program.
  • Old_JoeOld_Joe
    edited June 5
    Deleted- posted in error.
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