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re: Best Plan for Kid's College Funds

Posted on 10/7/13 at 4:04 pm to
Posted by StinkBait72
Member since Nov 2011
2057 posts
Posted on 10/7/13 at 4:04 pm to
Found this:

All other requests for refund will result in the
termination of the account and in the refund of:
a. the deposits invested in fixed earnings, if the
account has been open for less than twelve months;
b. the redemption value, if the account has been
open for 12 or more months;
c. the deposits to or the current value of an account
invested in a variable earnings option, whichever is less, less
earning enhancements allocated to the account and earnings
thereon if the account has been open for less than 12 months.
Any increase in the value of an account invested in a
variable earnings option over the amount deposited shall be
13 Louisiana Administrative Code March 2013
forfeited by the account owner and deposited in the Variable
Earnings Transaction Fund, if the account was invested in a
variable earnings option and terminated within 12 months of
the date the account was opened;
d. the current value (less earning enhancements
allocated to the account and earnings thereon) of an account
invested in variable earnings, if the account has been open
for 12 or more months.

So it can be refunded but the "enhancements" must be payed back it appears as long as it is opened for >12 months.
This post was edited on 10/7/13 at 4:06 pm
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