A.POLICY
Since 1989, the Ohio Tuition Trust Authority, has sponsored and administered Ohio’s
College Advantage 529 savings plan.
B.POLICY GUIDELINES
College Advantage 529 is available to families in Ohio and throughout the country as a tax- advantaged way to save for future college expenses. An 11-member Ohio Tuition Trust Authority Investment Board provides investment oversight.
A 529 plan is not subject to federal tax and generally not subject to state tax when used for a qualified education expense for a designated beneficiary. However, contributions to a 529 plan are not tax deductible. Please contact Ohio Tuition Trust to discuss all of the benefits of a College Advantage 529 savings plan. This program is 100 percent employee funded.
- POLICY HISTORY
- For additional information, please refer to the prior versions of the College Handbook
- Policy approved by President’s Cabinet April 2017
- Policy reviewed by the Human Resource Advisory Council October 2020; minor and inconsequential modifications were made to the policy
D.INITIATING DIVISION
Office of Human Resources
E.POLICY REVIEWERS
Office of Human Resources Human Resource Advisory Council
F.POLICY REFERENCES
- See Office of Human Resources for benefit information
- IRS Publication 970 (Tax Benefits for Education)
- No connecting policies
