529 College Savings Plan

Putting a child through college is one of the most expensive challenges. To help you face this challenge, Horace Mann offers 529 college savings plans. Like all 529 savings plans, they feature:

  • Tax advantages with which earnings grow tax-deferred.
  • Withdrawals for qualified higher education expenses that are free from federal income tax (tuition, room and board, and required books and supplies).
  • Tax advantages, deductions or credits are allowed in many states for contributions and limited taxability for distributions used for higher education expenses.
  • Potential for federal and state income tax and a 10% tax penalty on earnings for non-qualified withdrawals.
  • Portability, allowing its use to pay for any accredited college (not just in your state) for undergraduate, graduate, post-graduate and technical training.
  • Contributions of up to $13,000 per year without gift tax consequences. That's $26,000 per married couple.
  • No income limits, so you can contribute no matter how much you earn.
  • No restrictions on which member of the family you save for – a child, grandchild, niece, nephew, friend or yourself.
  • Control of assets, allowing you to decide when to make withdrawals.

As with all securities, 529 college savings plans do not guarantee that contributions and earnings will be adequate to cover your child’s future college costs. Also, 529 college savings holdings could impact the beneficiary’s ability to qualify for grants and student loans. 529 college savings plans vary by state, including contribution limits, state tax advantages, investment options, fees and expenses. Tax laws are subject to change; and depending on your state of residence, there may be an in-state plan that provides tax and other benefits not available through plans offered by Horace Mann Investors, Inc. You should consult with a tax advisor before investing in any state’s 529 plan.

529 college savings plans are offered by Horace Mann Investors, Inc., member FINRA / SIPC. Horace Mann Investors, Inc. is located at #1 Horace Mann Plaza, Springfield, IL 62715. You should read the prospectus and/or 529 plan program descriptions carefully and consider the investment objectives, risks, charges and expenses carefully before you invest or send money. The prospectus and 529 plan program descriptions will provide complete information about these subjects. You may review the 529 plan disclosure document for your state's plan here. As with all securities, 529 college savings plans involve a risk of loss, including a loss of principal.

To obtain a prospectus contact your Horace Mann Representative.

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