Upromise, the program manager for the state’s Most 529 Advisor Plan, said Tuesday that it has added more investment products within the plan and reduced the fees associated with owning a 529 plan.
Other benefits include a state income tax deduction for contributions of up to $8,000 per year, the ability to contribute up to $12,000 each year per beneficiary without incurring the federal gift tax, and tax-free distributions when funds are used for qualified higher-education expenses, the Newton, Mass., company said Tuesday.
