4 unique reasons to invest for education with Nuveen
If you’re a Colorado taxpayer, you might be able to take advantage of these features to help you save money when investing for education with the Scholars Choice Education Savings Plan®, offered nationwide by CollegeInvest.
- Tax Advantages: Contributions to Scholars Choice can be deducted from your Colorado state income tax return.1 Plus, investment earnings grow tax-deferred, and distributions to pay for the beneficiary’s qualified education expenses are withdrawn free of federal and state income taxes. You can even direct deposit Colorado state income tax refunds into your account.
- First Step by CollegeInvest: The Colorado legislature passed a bill in 2019 that creates Child Starter Accounts (CSA), giving every child either born or adopted in Colorado after January 1, 2020 a $100 contribution to their account in the Scholars Choice Education Savings Plan.
- Employer-sponsored 529 plans:For every dollar an employer contributes to an employee's Scholars Choice 529 account, the employer receives a 20% tax credit, up to a maximum of $500 per employee per year. So, an employer could give up to $2,500 per employee and receive a $500 Colorado state tax credit for each person.
- Matching Grant Program: Designed to help lower to middle-income Colorado families save money for higher education, this program can provide eligible account owners with matching funds – up to $500 each year for up to five awards – when they make contributions to the Scholars Choice Education Savings Plan.
Why choose Scholars Choice?
Distinctive experience – With Scholars Choice, you access the capabilities of two world-class financial organizations, TIAA and Nuveen. TIAA2 is a pioneer in the 529 industry that brings deep knowledge and demonstrated experience in managing every aspect of a successful 529 program. Nuveen, investment manager of TIAA, offers capabilities that span public and private markets, over five decades of leadership in responsible investing and a 125-year history of helping clients meet their financial goals.
Active/passive blend – The Plan has a dedicated team of investment professionals focused solely on managing 529 plans. The team leverages top-tier managers and highly-rated funds to take advantage of investment opportunities wherever they exist – across asset classes and market sectors. For this reason, the majority of portfolios have a smart blend of active and passive underlying funds, seeking to deliver benchmark-beating performance while maintaining competitive fees.
Uncompromising support – The Scholars Choice service team is always ready to help – whether it is with opening an account, answering questions or handling requests. In addition, you will find a wealth of resources to help achieve your education saving goals at scholars-choice.com.
