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| A 529 Plan is a tax-advantaged savings program authorized under Section 529 of the Internal Revenue Code which governs state college savings plans. It provides an easy and flexible means of saving for future education costs. Anyone can contribute on behalf of a designated beneficiary, and money saved can be used to cover qualifying higher education costs. |
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529 College Savings Plans have several attractive features:
- Earnings grow tax free.
- Account owners can make withdrawals for qualified education expenses free of federal income tax*.
- The owner retains complete control over assets until they are distributed for college expenses.
- If the designated beneficiary does not attend college, the owner may change beneficiaries, leave the account for later use, or cash in the assets**.
As with any investment, it is possible to lose money by investing in 529 Plans. Additionally, by investing in a 529 Plan outside of the state in which you pay taxes, you may lose any tax benefits offered by your own state's plan. You may want to investigate your state's 529 program before selecting a plan.
In addition to underlying fund expenses, plans may be subject to additional fees and charges such as plan administration, customer service, and distribution fees.
BB&T Investment Services, Inc. is a registered broker-dealer and wholly owned subsidiary of Branch Banking and Trust Company.
* Provision expires December 31, 2010, absent new legislation. Non-qualified withdrawals are subject to income tax paid on earnings and a 10% IRS tax penalty.
**Penalties may apply.
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| Contact us by Phone |
| To arrange a meeting with an Investment Counselor, contact your local BB&T bank branch or call 1-800-453-7348 |
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| Contact us by Mail |
BB&T Investment Services, Inc.
200 S. College St., 8th floor
Charlotte, NC 28202 |
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| Investment and/or insurance products offered through BB&T Investment Services, Inc. are not deposits or other obligations of Branch Banking and Trust Company or any affiliate; are not insured by the Federal Deposit Insurance Corporation (FDIC) or any other agency of the United States Government, Branch Banking and Trust Company or any affiliate; and in case of a product that is subject to investment risk, there is possible loss of value.
Member FINRA. Member SIPC.
Learn more at www.finra.org and www.sipc.org.
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Please Note: BB&T Investment Services, Inc. can only serve clients residing in states in which we are currently registered with the Financial Industry Regulatory Authority. For states other than North Carolina, South Carolina, Virginia, Georgia, Maryland, Washington D.C., West Virginia, Tennessee, Texas, Alabama, Kentucky, Florida, and Indiana, please call 1-800-453-7348 and select Option 3 for more information.
Copyright © 2012, Branch Banking and Trust Company. All Rights Reserved.
BB&T Complete Client Protection
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