529 College Savings Plan

Saving for college is a daunting task for every family, so we at Columbia Management and Future Scholar 529 are always excited when an organization such as yours shows such motivation towards planning for the future. 

There are a couple of different ways to participate in Future Scholar if you so choose.  The first way is by participating in the Direct Plan.  The Direct Plan is open to any resident of the state of South Carolina.  This is the plan that almost 80% of in state residents use because it is of no cost to the customer.  You can open a direct plan account online at www.futurescholar.com or by requesting an enrollment kit from the website.

Secondly, as State Employees of South Carolina, you are also eligible to participate in our Advisor Plan through the purchase of Z Shares.  This special share class allows you to participate in more investment options, including other fund managers, with no up front sales charge.  This share class is also open to anyone who is a South Caroline State Employee but is not a resident of South Carolina.  The Z Share application is not available for online enrollment, but you can request a State Employee Z Share application from www.futurescholar.com.

Things to remember about Future Scholar 529:

• 529 Funds can be used at any school, public or private, in any state and internationally.  See a full list of qualifying institutions at www.fafsa.org.
• Qualified expenses include any cost directly associated with attending a higher education institution: tuition, fees, room and board, books,    required equipment, etc.
• You can open an account for someone, not your child.
• Tax free growth and distributions as long as funds are used for qualified higher education expenses.
• All annual contributions are 100% state income tax deductible up to the maximum funding amount of $318,000 (in-state residents only).

Ryan White
529 Account Manager
Product Management 

O/M: 803.201.9881
columbiamanagement.com
futurescholar.com

Columbia Management
227 West Trade Street, Suite 1500
Charlotte, NC 28202