{"id":121311,"date":"2023-08-08T20:10:54","date_gmt":"2023-08-09T00:10:54","guid":{"rendered":"https:\/\/www.thevalleyledger.com\/?p=121311"},"modified":"2023-08-08T20:10:54","modified_gmt":"2023-08-09T00:10:54","slug":"treasurer-stacy-garrity-waives-fees-for-pa-529-gsp-accounts-reduces-fees-for-pa-529-ip-accounts","status":"publish","type":"post","link":"https:\/\/www.thevalleyledger.com\/?p=121311","title":{"rendered":"Treasurer Stacy Garrity Waives Fees for PA 529 GSP Accounts, Reduces Fees for PA 529 IP Accounts"},"content":{"rendered":"

Harrisburg, PA\u00a0<\/strong>\u2014 Treasurer Stacy Garrity today announced that asset-based fees will be waived for\u00a0PA 529 Guaranteed Savings Plan (GSP)<\/a>\u00a0account owners for the second consecutive fiscal year. Fee waivers will be funded by PA 529 GSP surplus earnings.<\/p>\n

PA 529 Investment Plan (IP)<\/a>\u00a0account owners will also see a second fee reduction this year, as state fees will decrease by 0.5 basis points (0.005 percent) effective September 1, 2023.\u00a0Last month<\/a>\u00a0Treasurer Garrity announced a reduction in operational support fees by 1.25 basis points (0.0125 percent). Combined, the IP fee reductions will result in a savings of more than $800,000 for account holders throughout this fiscal year.<\/p>\n

\u201cI\u2019m cutting these fees because the great PA 529 College and Career Savings Program should be as affordable as possible for every family in our state,\u201d Garrity said. \u201cLower fees help Pennsylvanians save more for their children\u2019s education. PA 529 accounts are a tremendous tool to help the next generation afford the training and education they\u2019ll need to enter the workforce, whether they attend one of our great technical schools, community colleges, or four-year universities \u2013 or if they enter an apprenticeship.\u201d<\/p>\n

There are more than 287,000 PA 529 accounts, including more than 111,000 PA 529 GSP accounts and more than 175,000 PA 529 IP accounts. Families have nearly $7 billion saved for future education expenses.<\/p>\n

PA 529\u00a0accounts are designed to help Pennsylvania families steadily and strategically save for a wide variety of qualifying technical, collegiate, apprenticeship and K-12 educational expenses. Both PA 529 plans have significant state and federal\u00a0tax advantages<\/a>, and assets saved in PA 529 accounts do not affect eligibility for state financial aid.<\/p>\n

The\u00a0PA 529 GSP<\/a>\u00a0allows families to save at today\u2019s tuition rates to meet tomorrow\u2019s tuition costs. Account earnings are based on college tuition inflation rates, and families can choose the tuition credit rate they wish to save at from community colleges to Ivy League universities.<\/p>\n

The\u00a0Morningstar Silver Rated PA 529 IP<\/a>\u00a0offers a variety of investment options, and account earnings are directly tied to financial market performance.<\/p>\n

To learn more about how to start saving with PA 529, visit\u00a0pa529.com<\/a>\u00a0or call 800-440-4000.<\/p>\n

STACY GARRITY, STATE TREASURER<\/p>\n

www.patreasury.gov<\/a><\/p>\n

 <\/p>\n

Information provided to TVL by:
\nSamantha Heckel<\/p>\n

 <\/p>\n

\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Harrisburg, PA\u00a0\u2014 Treasurer Stacy Garrity today announced that asset-based fees will be waived for\u00a0PA 529 Guaranteed Savings Plan (GSP)\u00a0account owners for the second consecutive fiscal year. Fee waivers will be … Continue reading Treasurer Stacy Garrity Waives Fees for PA 529 GSP Accounts, Reduces Fees for PA 529 IP Accounts<\/span> →<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":120734,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false},"version":2}},"categories":[69,482],"tags":[],"class_list":["post-121311","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-in-the-valley","category-press-release-2"],"jetpack_publicize_connections":[],"acf":[],"jetpack_featured_media_url":"https:\/\/www.thevalleyledger.com\/wp-content\/uploads\/2023\/07\/Pennsylvania-Treasury.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.thevalleyledger.com\/index.php?rest_route=\/wp\/v2\/posts\/121311"}],"collection":[{"href":"https:\/\/www.thevalleyledger.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.thevalleyledger.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.thevalleyledger.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thevalleyledger.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=121311"}],"version-history":[{"count":0,"href":"https:\/\/www.thevalleyledger.com\/index.php?rest_route=\/wp\/v2\/posts\/121311\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.thevalleyledger.com\/index.php?rest_route=\/wp\/v2\/media\/120734"}],"wp:attachment":[{"href":"https:\/\/www.thevalleyledger.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=121311"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thevalleyledger.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=121311"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thevalleyledger.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=121311"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}