T. Rowe Price of Baltimore has launched a new national 529 plan, the company announced today. The plan, which is sponsored by the Alaska Trust, is open to any U.S. resident and allows participants to invest up to $250,000 for education, according to the company.
These college saving plans are more advantageous than ever due to the new tax act because under it, distributions taken to pay for qualified educational expenses after Jan. 1, 2002 will be exempt from federal income taxes, according to the company.
Eight different portfolios are offered in the plan ranging from 100 percent stock weighted to 20 percent, according to T. Rowe Price.
