Section 529 College Plans by State
Section 529 College Plans are tax-advantaged saving vehicles designed to encourage families to save for future college education. 529 College Plans were first introduced into the Financial Accounts in June 2015 as memo items on Table B.101 (Balance Sheet of Households and Nonprofit Organizations). The assets in 529 college savings plans (memo item 43), which are predominantly invested in mutual funds, are included on the household balance sheet as part of households’ direct holdings of mutual funds. In contrast, assets backing 529 prepaid tuition plans (memo item 44) are spread over several asset categories on the household balance sheet, depending on how these assets are invested by the states managing the plans. The Enhanced Financial Accounts (EFA) table on 529 College Plans provides additional detail on 529 plan assets at the state level by type of plan (college savings or prepaid tuition).
The data on assets held by 529 Prepaid College Plans are publicly available on the College Savings Plans Network (CSPN) website. Data on assets held by 529 Savings College Plans are from Strategic Insight’s (SI) College Savings Quarterly Update. In the interest of participants and in order to facilitate comparisons across states, starting in 2002, all 529 college plans started to voluntarily publicly disclose additional information on assets which we now present in supplementary tables. We complement these data with additional information from plan disclosures and discussions with plan representatives.