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529 Tips

Some CollegeAdvantage Guaranteed Plan Payout Rates Have Increased

Is your beneficiary under age 18? If yes, please be aware that CollegeAdvantage Guaranteed Plan payout rates for beneficiaries under age 18 are now at full WAT value.

Based on Ohio Administrative Code and recent approval by the Ohio Tuition Trust Authority Board, withdrawals for beneficiaries under age 18 are not reduced and will instead be paid out at the full WAT value in effect at the time of withdrawal.

As you work toward your college savings goals, you should consider the age of your child, the number of years you have to save before college, your risk tolerance​and investment goals​.

Depending on your goals, you always have the option to rollover funds from your CollegeAdvantage Guaranteed Plan account to any 529 plan, including the CollegeAdvantage Direct or Advisor Plan at any time, without incurring tax consequences and a penalty. To do so, complete the Guaranteed Plan Withdrawal form.

Withdrawal values are calculated according to Ohio Administrative Code and may change at any time and without notice.

The Ohio Tuition Trust Authority does not provide investment advice. The information contained herein is informational only and should not be relied upon exclusively to make your investment decisions. Investment options should be selected based on your investment goals, risk tolerance, and savings time horizon.

Please note: The earnings portion of non-qualified withdrawals may be subject to taxes and a possible 10% federal tax penalty. If you are considering taking a non-qualified withdrawal, please consult your professional tax advisor.

Posted on March 24, 2015

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