PA 529 and PA ABLE savings plans offer gift-giving feature.
Harrisburg, PA – Pennsylvania Treasurer Joe Torsella today reminded Pennsylvanians about the gift-giving feature of the PA 529 College Savings Program and PA ABLE Savings Program that allows friends and family to safely and securely make tax-advantaged contributions to a loved one’s savings account.
"This holiday season, give the gift of a brighter financial future. A contribution that helps a young Pennsylvanian pursue higher education or live more independently is a meaningful gift that will last a lifetime. It’s easy to do and contributions can be made for as little as $25."
Pennsylvania Treasurer, Joe Torsella
Through Ugift, Pennsylvania Treasury maximizes savings opportunities for Pennsylvanians seeking higher education and individuals with disabilities in the Commonwealth. Contributions to PA 529 and PA ABLE savings plans are state tax deductible.
Ugift is a free, easy-to-use benefit of PA 529 and PA ABLE that allows friends and family to give the gift of savings, in lieu of a traditional holiday gift.
Account owners can create a unique code through Ugift. The code can be shared with gift-givers that wish to contribute to a PA 529 or PA ABLE account safely and securely at ugift529.com or giftABLE.com.
Ugift codes must be created and shared by the PA 529 or PA ABLE account owner. Once the account owner has created a code, it can be shared via email, social media, printed invitations, etc. The minimum Ugift contribution for PA 529 and PA ABLE savings plans is $25.