Indiana529 launches 5.29 Day ‘Big Futures’ Sweepstakes

Submitted by Office of Treasurer Daniel Elliott

Treasurer of State Daniel Elliott announced on Friday, May 1 the 5.29 Day Big Futures Sweepstakes from Indiana529 to celebrate National College Savings Plan Day on May 29. Twenty winners from entries received May 1 to 28 will win a $529 Indiana529 account deposit.

To enter the contest, individuals 18 years of age or older must complete the entry form at Indiana529Direct.com/529Day by 11:59 p.m. May 28. Twenty individuals will be randomly selected from all eligible entries to win a $529 Indiana529 account deposit.

“We’re launching a new contest to celebrate 5.29 Day in Indiana as a way to give 20 families a boost to their education and career training savings,” Treasurer Elliott said. “Our kids have big futures ahead of them and we know that investing in Indiana’s 529 plan can help them get there.”

Indiana529 provides families with flexibility and choice when it comes to saving for education after high school. Funds can be used at any eligible school or qualified apprenticeship program, both in- and out-of-state. Accounts grow tax-deferred and distributions are tax-free as long as the money is withdrawn to pay for qualified education expenses like tuition, books, equipment, and fees.

Indiana taxpayers may also be eligible for an annual state income tax credit of 20 percent of contributions to Indiana529 accounts, worth up to $1,500 each year ($750 for married couples filing separately).

“The best day to start saving for future education is today,” Program Executive Director Marissa Rowe said. “We can’t wait to add $529 to 20 new or existing accounts to support Hoosier families in reaching their big futures.”

For full contest rules and to enter, visit Indiana529Direct.com/529Day. For more information about Indiana529 Savings Plans, visit MyIndiana529.com.