Presentation to Focus on SMART529 Plan

Representatives of the West Virginia State Treasurer's Office will be on the campus of Fairmont State University on Wednesday, March 21, to discuss the benefits of SMART529, West Virginia's College Savings Plan.

SMART529 is a tax-advantaged college investment program that can offer many benefits over taxable college savings accounts. It is a program started by State Treasurer John D. Perdue.

"Savingforcollege.com has rated the West Virginia program as one the best in the country," said Perdue. "The people of West Virginia have recognized that it is never too early to begin savings for a college education and responded by investing more than $210 million in SMART529."

Two sessions will take place on Wednesday. The first session, which will be open to the general public, will be from 10 to 11 a.m. in Multi-media Room B of the Ruth Ann Musick Library. The second session, which will be from noon to 1 p.m., is a brown bag lunch for Fairmont State faculty and staff.

Fairmont State has begun offering its employees a way to conveniently purchase a SMART529 plan through payroll deduction, making college savings easier.

With SMART529, assets can accumulate tax deferred. Withdrawals for qualified higher education expenses are free from federal income taxes, and savings can be used at thousands of accredited colleges and vocational schools across the country.

West Virginia Treasury employees, Natalie Tennant and Pat Jack, will be on hand to answer questions from faculty, staff, students and the public about the program.

"No where else is a college education seen as so important as on a campus itself," said Tennant. "I applaud Fairmont State for making the commitment and providing this payroll deduction option for its employees."