OKLAHOMA CITY (June 4, 2018) – State Treasurer Ken Miller announces the launch of the 2018 Summer Savings Adventure Sweepstakes, which will see one Oklahoma child win $5,529 toward an Oklahoma 529 College Savings Plan account.
Working together with two Oklahoma City Adventure District Partners, Science Museum Oklahoma and the Oklahoma City Zoo, the Summer Savings Adventure encourages families to take time this summer to plan how they will pay for college.
“The first and best advice for anyone looking to pay for a college education is to make a plan,” said Miller, board chair of the Oklahoma 529 Savings Plan (OCSP). “Summer is great time for families to research the resources available to them, like OCSP, look at their budget and start saving for their children’s futures.”
This is the third year OCSP has partnered with the Oklahoma City Zoo and Science Museum Oklahoma for the sweepstakes. Miller said it’s a great fit because each organization is dedicated to a mission of lifetime learning.
“We couldn’t have better partners than the Oklahoma City Zoo and Science Museum Oklahoma,” Miller said. “Generations of families have made lifelong memories and explored the sciences at both of these Oklahoma institutions, and I’m proud that they are helping OCSP to raise awareness about saving for higher education.”
The 2018 Summer Savings Adventure Sweepstakes officially launches today and will close on July 31, 2018. Sweepstakes entry, official rules and additional information is available at www.ok4saving.org. The winner will be randomly selected and formally announced shortly after the sweepstakes concludes.
The sweepstakes is open to Oklahoma residents who are parents, grandparents or legal guardians who are at least 21 years old and have a child or grandchild 16 years old or younger who is also an Oklahoma resident.
OCSP serves almost 30,000 account owners with more than $850 million in college savings assets. OCSP account owners make an average monthly contribution of $269 to their accounts. (Data through 12/31/17.) For more facts and figure about how Oklahomans are saving for college, visit www.ok4saving.org/documents/OK_infographic_may2018.pdf.
For more information about the Oklahoma 529 College Savings Plan visit www.ok4saving.org or call (877) 654-7284. Funding for OCSP prizes comes from the marketing budget of the Oklahoma 529 College Savings Plan; no state funds are used.
About the OCSP
Introduced in April 2000, the Oklahoma 529 College Saving Plan (OCSP) is Oklahoma’s direct-sold 529 college savings plan. It is designed for families who want to direct their own 529 college savings accounts. The plan is managed by TIAA-CREF Tuition Financing, Inc. Introduced in March 2009, OklahomaDream 529 Plan is offered through financial advisors and is managed by Allianz Global Investors. As of April 30, 2018, combined assets in both plans exceed $1 billion.
Oklahoma taxpayers may deduct, from their Oklahoma adjusted gross income, up to $10,000 in contributions to the Oklahoma 529 College Savings Plan for individual taxpayers and up to $20,000 for taxpayers filing a joint return with a five-year carryforward. Read the Disclosure Booklet carefully.
Consider the investment objectives, risks, charges and expenses before investing in the Oklahoma College Savings Plan. Please visitwww.ok4saving.org or call toll-free 1-877-654-7284 for a Plan Disclosure Booklet containing this and more information. Read it carefully.
Check with your home state to learn if it offers tax or other benefits such as financial aid, scholarships and protection from creditors for investing in its own 529 plan. Investments in the Plan are neither insured nor guaranteed and there is the risk of investment loss.
Taxpayers should seek advice based on their own particular circumstances from an independent tax advisor. If the funds aren’t used for qualified higher education expenses, a 10% penalty tax on earnings (as well as federal and state income taxes) may apply.
Investments in the Plan are neither insured nor guaranteed and there is the risk of investment loss.
TIAA-CREF Tuition Financing, Inc., Program Manager. TIAA-CREF Individual & Institutional Services, LLC, member FINRA and SIPC, distributor and underwriter for the Oklahoma College Savings Plan.
