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INVESTMENTS ARE NOT FDIC INSURED, MAY LOSE VALUE AND ARE NOT BANK GUARANTEED.Suncoast Credit Union Accessibility Statement All other marks are the exclusive property of their respective owners. Ugift is a registered service mark of ABD. Investments are not guaranteed or insured by the State of Rhode Island, the office of the General Treasurer of Rhode Island, the Rhode Island State Investment Commission, the Federal Deposit Insurance Corporation (FDIC) or any instrumentality thereof. Investments in CollegeBound Saver are municipal securities that will vary with market conditions. Ascensus Broker Dealer Services, LLC ("ABD") markets CollegeBound Saver.ĬollegeBound Saver’s Portfolios invest in: (i) exchange-traded funds, (ii) mutual funds and (iii) separate accounts. Ascensus College Savings Recordkeeping Services, LLC (“ACSR”), the Program Manager, and its affiliates have overall responsibility for the day-to-day operations including recordkeeping and administrative services. Keep in mind that state-based benefits should be one of many appropriately weighted factors to be considered when making an investment decision.įor more information about CollegeBound Saver, call 87, or visit to obtain a Program Description, which includes investment objectives, risks, charges, expenses, and other important information read and consider it carefully before investing.ĬollegeBound Saver is administered by the office of the Rhode Island General Treasurer and the Rhode Island State Investment Commission. You also may wish to contact directly your home state’s 529 college savings plan(s), or any other 529 plan, to learn more about those plans’ features, benefits, and limitations. You should also consult your financial, tax, or other advisor to learn more about how state-based benefits (or any limitations) would apply to your specific circumstances. Please Note: Before you invest, consider whether your or the beneficiary’s home state offers any state tax or other state benefits such as financial aid, scholarship funds, and protection from creditors that are only available for investments in that state’s qualified tuition program. Please consult with your tax advisor for further information.ģAn investment plan of regular investment cannot assure a profit or protect against a loss in a declining market.ĤIn the event the donor does not survive the five-year period, a pro-rated amount will revert to the donor's taxable estate. Gift or generation-skipping transfer taxes may apply. Tax and other benefits are contingent on meeting other requirements and certain distributions are subject to federal, state, and local taxes.ĢSection 529 defines a family member as: a son, daughter, stepson or stepdaughter, or a descendant of any such person a brother, sister, stepbrother, or stepsister the father or mother, or an ancestor of either a stepfather or stepmother a son or daughter of a brother or sister a brother or sister of the father or mother a son-in-law, daughter-in-law, father-in-law, mother-in-law, brother-in-law, or sister-in-law the spouse of the beneficiary or the spouse of any individual described above or a first cousin of the beneficiary.
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1Earnings on non-qualified distributions may be subject to federal income tax and a 10% federal penalty tax, as well as state and local income taxes.