Bill > SR113

This resolution designates May 29, 2025, as "College and Career Savings Day" in Pennsylvania, highlighting the significance of the PA 529 College and Career Savings Program, which was established in 1992 to help residents save for postsecondary education. The resolution emphasizes the program's key features, including two savings plans (Guaranteed Savings Plan and Investment Plan), which offer tax advantages such as state income tax deductions, tax-free investment growth, and withdrawals for qualified educational expenses. Currently, over 314,000 families are participating in the program, with savings that can be used for various educational institutions including K-12 schools, colleges, universities, community colleges, technical schools, and qualified apprenticeship programs. The resolution aims to increase public awareness about the benefits of saving for education through the PA 529 program, noting that the Pennsylvania Treasury Department has reduced program fees and received a prestigious Morningstar Gold Rating for the Investment Plan, making it one of only five such plans nationally.

Government Affairs

https://www.legis.state.pa.us/cfdocs/billinfo/bill_history.cfm?syear=2025&sind=0&body=S&type=R&bn=113