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Started By
Message
So is my 529 fricked or what?
Posted on 2/12/16 at 6:15 am
Posted on 2/12/16 at 6:15 am
Damn state is broke 
5
Posted on 2/12/16 at 7:03 am to trident
Hilarious.
Go away.
Go away.
Posted on 2/12/16 at 7:05 am to trident
I have 529s for both my kids, but not in the START program through the state. 
Posted on 2/12/16 at 7:33 am to Kankles
quote:
but not in the START program through the state.
mine is for both kids. luckily there are younger than 2
Posted on 2/12/16 at 7:35 am to trident
Ok, obviously I'm out of the loop here, but what's up with the LA START 529 plan? I have one for my kid as well.
Posted on 2/12/16 at 8:03 am to Htown Tiger
I don't think there's anything going on with the START plans or if yesterday's news will have any implications at all. It's a good plan, I just didn't know anything about it when I started mine a while back, and have never made a switch.
Posted on 2/12/16 at 8:30 am to trident
I hate to say this to you but I'm so damn glad our 529 is elsewhere.
Posted on 2/12/16 at 8:40 am to tiger91
I guess the match and deduction is going away
Posted on 2/12/16 at 9:30 am to trident
Going to miss out on that massive 2% match? Oh the horror. Better than those who thought Tops would still be around to send the kids to college on the government ticket.
This post was edited on 2/12/16 at 9:31 am
Posted on 2/12/16 at 9:31 am to Jimmy2shoes
quote:
I guess the match and deduction is going away
The match is interest and dividends earned by the protection fund. I doubt that is going away but the deduction might be history. Sucks because they have a carry forward if you don't use all of the deduction in a year. I have a lot that I am selling and was planning on dumping some of the proceeds into my kids 529 and wanted a nice deduction from the state.
Posted on 2/12/16 at 9:33 am to StinkBait72
quote:
Going to miss out on that massive 2% match? Oh the horror. Better than those who thought Tops would still be around to send the kids to college on the government ticket.
If you have 25K in your account that is $500 you miss out on per year if it went away. Not chump change. Over 12 years that is 6K compounded probably 8-9K.
This post was edited on 2/12/16 at 9:34 am
Posted on 2/12/16 at 9:38 am to lsufan1971
I don't want to lose the match myself (I put in 200 per child per month), but if that's one thing I have to give up to get us back on track I'm for it.
Ideally i would prefer to increase the TOPS requirements and increase the match of the START program and everyone has skin in the game. We can't afford Tops in it's current state and incentivize parents to save for their children if they want them to go to college.
Ideally i would prefer to increase the TOPS requirements and increase the match of the START program and everyone has skin in the game. We can't afford Tops in it's current state and incentivize parents to save for their children if they want them to go to college.
This post was edited on 2/12/16 at 9:39 am
Posted on 2/12/16 at 10:58 am to trident
I am sure the money is segregated, there are laws and SIPC rules about this.
But the match and deduction may end, which then makes the plan pretty useless compared to others in the market.
But the match and deduction may end, which then makes the plan pretty useless compared to others in the market.
Posted on 2/12/16 at 12:45 pm to LSUFanHouston
what would be better alternatives for LA residents if there's a change to the match and/or deduction?
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