Pa. 529 Plan to Offer Social Options

March 7, 2002 ( - Investors in the state of Pennsylvania's new 529 college savings plan will have two socially conscious investment alternatives to choose from in the plan's investment line up when it launches nationally this spring.

State Treasurer Barbara Hafer announced that Pennsylvania’s plan will offer a stock fund and a bond fund from Calvert Group, Ltd., known for its socially responsible investing. Delaware Investment – tapped this year to manage the fund – will offer its own funds as well, Hafer said.

The Delaware offerings will include stock, bond and balanced funds, a stable value fund and two age-based funds in which the investment mix will automatically become more conservative as the child approaches college age.

Section 529 plans are often used by parents and grandparents to help save for a child’s college education. Plan assets will accumulate free of federal tax.

More information is available by calling the TAP toll-free number at 800/440-4000 or visiting the TAP Web site at