The total assets invested in 529 college-savings plans hit a new record, $157.43-billion, in 2010, according to a new report, “College Savings Plan Network 529 Report.” The report, released by the College Savings Plan Network, gathered data from 104 savings and prepaid 529 plans, tax-advantaged accounts named for Section 529 of the Internal Revenue Code, which authorizes them. The report also says that the average account balance has bounced back since the economic downturn, and now stands at $15,492. More than half of the accounts received a contribution in 2010, a slightly smaller share than in 2009.
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Assets in 529 Plans Hit Record High, Report Says
April 27, 2011, 1:30 pm
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