529 College Savings Plan
If you're thinking about meeting soaring college expenses in the years ahead, you might consider the 529 College Savings Plan. Introduced by the IRS and sponsored by individual states, these plans allow higher contributions than education IRAs. PeoplesFinancial and Insurance Services can show you how this innovative program allows you to put aside significant sums of money that will grow tax-free until withdrawn for qualified education expenses.* It also provides considerable estate planning benefits. So, it's both a great way to help your children or grandchildren get the higher education they need, and a smart way to lower estate taxes.
For more information, on our 529 College Savings Plans contact one of our PeoplesFinancial Services Representatives.
*Nonqualified withdrawals subject to ordinary income tax upon withdrawal as well as a 10% IRS penalty.
Disclosure
PeoplesFinancial and Insurance Services are available at 1936 Memorial Drive, Chicopee, MA 01020 and 7 College Street, South Hadley, MA 01075. For your convenience you can meet with our PeoplesFinancial Services Representatives at any other location by appointment only. Phone (413) 538-9500
Investment products and services are offered through INFINEX INVESTMENTS, INC. Member FINRA/SIPC. Insurance products are offered through Infinex Insurance Agency of Massachusetts, Inc. Infinex and the bank are not affiliated. Products and services made available through Infinex are not insured by the FDIC or any other agency of the United States government and are not deposits or obligations of nor guaranteed or insured by any bank or bank affiliate. These products are subject to investment risk, including the possible loss of value.
