About
Us
Saving for your child’s future is essential, right? Right! Like all parents, you want what’s best for your child. You want them to be healthy, you want them to grow and flourish, and someday, when they are ready, you want them to go to college and have a bright, promising future. So, why haven’t you started saving yet?
Achieve Montana helps families like yours save for their child’s future education. The best part is that it is not too late to begin saving, but it is crucial to start. Here are ten great reasons to sign up today.
#10 Signing up is easy and convenient:
- We provide easy online account enrollment and management.
- For more information, call 877.486.9271 or visit www.achievemontana.com.
#9 Setting up an account is affordable:
- You may open an account for as little as $25 or $15 with payroll deduction, where available.
- There are no annual account maintenance fees if you are a Montana resident.
#8 The choice is all yours:
- We offer a variety of investment options to meet your needs and goals.
- Choose as many investment options as you prefer as long as 5% is allocated to each option.
#7 You can save better because of tax advantages and more:
- Account earnings grow deferred from both federal and state taxes.
- Montanans get special tax benefits. Contributions are eligible for an annual income tax deduction.
#6 Speaking of tax advantages:
- Contributions may also qualify as tax free gifts of up to $150,000 per beneficiary in a single year.
- Ready for college? You may withdraw free from federal and Montana state income tax when paying for eligible expenses.
#5 Use it at any eligible school, anywhere:
- Assets may be used towards the cost of almost any college, university, vocational school, or other postsecondary educational institution.
- Your account may also be used for any graduate school, medical school, or law school.
#4 Unused funds may be used for other eligible family members:
- If a beneficiary chooses not to attend college, you may name another beneficiary within the same family.
- You may appoint a child, adult, or even yourself as the beneficiary.
#3 Reduce your reliance on student loans:
- 529 plans help lower your need for financial aid than other savings options.
- Relieve the burden of student loan debt for your child.
#2 Everyone can help:
- Anyone may contribute to the same Achieve Montana account.
- Through the use of Ugift®, family and friends may send gift contributions too.
The #1 reason to enroll in an Achieve Montana 529 plan:
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The sooner you start, the more you’ll have!
- An initial investment of $3,000 with monthly contributions of $200 for 18 years could total nearly $85,000 that your child has available to spend towards college.*
For more information about Achieve Montana, call 877.486.9271 or visit www.achievemontana.com.
Disclaimer:
For more information about Achieve Montana, download an Enrollment Kit at blue-lemon.flywheelstaging.com or call 877.486.9271. The Enrollment Kit includes a Program Description that discusses investment objectives, risks, charges, expenses, and other important information; read and consider it carefully before investing.
If you are not a Montana taxpayer, consider before investing whether your or the beneficiary’s home state offers any state tax or other benefits such as financial aid, scholarship funds, and protection from creditors that are only available for investments in that state’s qualified tuition program.
Except to the extent of the New York Life Insurance Company guarantee that is available for the Capital Preservation Portfolio and certain Year of Enrollment Portfolios, investment returns are not guaranteed, and you could lose money by investing in Achieve Montana.
Achieve Montana account owners who are Montana residents are entitled up to a yearly $3,000 deduction to adjusted gross income per taxpayer, in computing their Montana State income tax, or $6,000 for those married, filing jointly, based on contributions to Achieve Montana. Contributions may be subject to recapture in certain circumstances, such as a federal non-qualified withdrawal or withdrawals used to pay elementary or secondary school tuition, registered apprenticeship program expenses, qualified education loan repayments, or a withdrawal from an account that was opened within three years prior to the date of the withdrawal, as described in the Program Description (Recaptured Withdrawal). If the account owner is no longer a Montana resident at the time of a Recaptured Withdrawal, we may withhold the potential recapture tax from the Recaptured Withdrawal.
Individuals can invest up to $15,000 ($30,000 for married couples making a proper election) per beneficiary without incurring any federal gift-tax consequences provided no additional gifts are made to that beneficiary in the same year. In addition, maximum gifts are $75,000 per beneficiary in a single year ($150,000 for married couples making a proper election). If the donor does not survive the five years, a portion of the gift is returned to the taxable estate.
Earnings on non-qualified withdrawals are subject to federal income tax and may be subject to a 10% federal penalty tax, as well as state and local income taxes. The availability of tax or other benefits may be contingent on meeting other requirements. See the Program Description for more details on qualified expenses.
*This assumes an initial contribution of $3,000 and a hypothetical 6% return on investments. Calculations are based on bankrate.com/calculators/savings/simple-savings-calculator.aspx. Hypothetical results are for illustrative purposes only and are not meant to represent the past or future performance of an actual investment in any particular 529 plan or any taxes or penalties payable upon distribution.
