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What Are The Benefits to Investing in My State's 529 plan?

May 26, 2012

Your state may provide state income tax deductions, credits, or exemptions on contributions to its 529 plan.

A few states even offer matching contributions and creditor protection of 529 assets if you declare bankruptcy. Such benefits are just one factor to consider when deciding which plan to use.

You may find another state's plan is more appropriate for you even though you won't get a break on state income tax. Or you may find that a plan's high costs would offset any tax or other benefits you'd receive.

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