Products April 3, 2002
South Carolina Jumps into 529 Market
March 4, 2002 (PLANSPONSOR.com) - The state of South Carolina has unveiled a 529 college savings plan called Future Scholar.
Reported by Fred Schneyer
The state’s Treasurer will be the program’s administrator while Banc of America Advisors LLC will manage the program’s assets.
Savings in a plan account – to be used for college tuition – would be tax free from federal taxes prior to withdrawal while South Carolina residents will also get a state tax break as well.
The state’s program announcement said it is only
available to South Carolina residents until April 1 when it
will be marketed nationally.
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