Nebraska Governor Pillen Declares National 529 Day
LINCOLN, Neb. (May 28, 2024) – Governor Jim Pillen is declaring May 29, 2024, as National 529 Day in Nebraska. This proclamation calls attention to the opportunity families have to start investing in their loved ones’ futures, helping Nebraska’s next generation soar toward their personal and career goals.
“The future of our great state and country is with our youth,” said Governor Pillen. “NEST 529 Education Savings Plans are proven to help these students reach their dreams, so I’m proud to declare May 29, 2024, as National 529 Day in Nebraska.”
Post-secondary education costs like tuition and books continue to rise at, and above, the rate of inflation, making it imperative for families to start saving earlier and more consistently. Once students are ready to pursue higher education, 529 funds can be used toward technical and trade schools, junior colleges, or universities.
“National 529 Day is one of the many great ways we can highlight the importance of investing in our children,” Nebraska Treasurer Tom Briese said. “We appreciate Governor Pillen’s support and hope parents and guardians throughout the state will evaluate the opportunity to save money and help their loved ones soar.”
Launched in 2001, Nebraska’s 529 Education Savings Plans have nearly 300,000 accounts with more than $6.9 billion in assets, as of March 31, 2024. Today, there are more than 100,000 NEST 529 accounts owned by Nebraska residents.
About NEST 529 Plans
A NEST 529 plan is a tax-advantaged savings account for higher education expenses. Tax-advantaged savings include a Nebraska state tax deduction, tax-deferred growth, and tax-free qualified withdrawals.1 Account Owners in Nebraska are eligible for an annual state income tax deduction of up to $10,000 for NEST 529 contributions or $5,000 if married filing separately.2 NEST 529 College Savings Plans can be used for everything from four-year universities to two-year technical schools. Opening a NEST 529 account doesn’t require a minimum deposit to get started, and contributions can be managed online. NEST 529 plans give families the ability to start investing in their loved one’s future, so they can soar to their goals and become who they want to be as adults.
The Nebraska State Treasurer serves as the Program Trustee. All investments, including the portfolio structure offered through the NEST 529 program, are vetted and approved by the Nebraska Investment Council.