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TPC Applauds Congressional Move to Make Permanent the Favorable Tax Treatment of 529 Plans
Provision also makes the underlying authorization for Independent 529 Plan permanent

Press Release

TPC Applauds Congressional Move to Make Permanent the Favorable Tax Treatment of 529 Plans

August 4, 2006—Tuition Plan Consortium, the not-for-profit organization that sponsors Independent 529 Plan – a pre-paid tuition plan designed specifically for use at more than 250 private colleges and universities nationwide – applauded the inclusion of a provision that makes permanent the favorable federal tax treatment of 529 plans in the Pension Reform Bill.

"Yesterday’s vote means that all 529 plans – either savings plans or prepaid plans – will continue to offer qualified withdrawals federal income tax-free," said Nancy Farmer, President.

"We applaud Congress' leadership on this issue. This is a win for parents and students who will now be able to benefit from the value of a 529 Plan like Independent 529 Plan for many years to come," said Farmer.

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	Participation in Independent 529 Plan does not guarantee admission to any college or university, nor does it affect the admissions process. Each year, each member college offers a discounted rate of at least 0.5% less than its current tuition rates. Discount rate can vary from year to year. Purchasers should read the Disclosure Booklet, including the Enrollment Agreement, carefully before making purchase decisions. Tuition Plan Consortium, LLC is the program sponsor and TIAA-CREF Tuition Financing, Inc. is the program manager. Tuition guaranteed by member colleges. © 2010 TIAA-CREF Tuition Financing, Inc.