SOURCE: ScholarShare

ScholarShare

April 16, 2014 11:00 ET

ScholarShare Offers e-Delivery Option for Account Holders

Reduce Paperwork and Preserve the Environment

SACRAMENTO, CA--(Marketwired - Apr 16, 2014) - ScholarShare, California's 529 college savings plan, encourages new and current account holders to celebrate Earth Day by signing up for its e-Delivery option. With e-delivery, all paperwork will be sent electronically, helping to conserve our natural resources. 

Signing up for e-Delivery is simple and easy. Go to www.ScholarShare.com, log-in to your account and click on "Change Account Statement Delivery" to modify your account statement delivery to e-Statements. Once enrolled, you will receive all account statements and/or disclosure and privacy materials in PDF form online at no cost. Account statements for your college savings plan are normally available five business days after the end of each calendar quarter, and you will receive an automatic e-mail notice when your savings plan statement is available for online viewing. 

Another eco-friendly option is "eGifting." With just a few clicks, family and friends can electronically make deposits to your loved one's 529 college savings plan.

ScholarShare, named one of the nine best 529 plans in the nation by a prominent ratings agency, offers a wide variety of low-cost investment options. It also provides valuable tax advantages. Any US citizen, or resident alien with a valid Social Security Number or Taxpayer Identification Number, can open a new account. Funds can be used at any eligible educational institution in the nation, and some abroad, for a variety of qualified higher education expenses, including mandatory fees, books, supplies, or even certain room and board costs.

About the ScholarShare 529 College Savings Plan:
ScholarShare accounts may be opened with as little as $25. ScholarShare has no annual account maintenance fee, no income limit and offers a high maximum account balance. Established in 1999, ScholarShare currently holds more than $5.7 billion in assets in more than 252,000 accounts as of 4/4/14.To sign up for an account or for more information about the plan, visit www.scholarshare.com. For information about the ScholarShare Investment Board (SIB), visit www.treasurer.ca.gov/scholarshare. Like ScholarShare on Facebook at www.facebook.com/scholarshare529 and follow us on Twitter at @ScholarShare529.

Named for the section of the IRS code under which they were created, 529 plans offer valuable tax advantages. Contributions are made with money that has already been taxed. Once funds are placed in the account, investment earnings, if any, are not federally or state taxed, if withdrawn to pay for qualified higher education costs.

Consider the investment objectives, risks, charges and expenses before investing in the ScholarShare 529 College Savings Plan. Please visit www.scholarshare.com for a Program Disclosure Booklet containing this and other information. Read it carefully.

Before investing in a 529 plan, you should consider whether the state you or your Beneficiary reside in or have taxable income in has a 529 plan that offers favorable state income tax or other benefits that are only available if you invest in that state's 529 plan.

The tax information contained herein is not intended to be used, and cannot be used, by any taxpayer for the purpose of avoiding tax penalties. Taxpayers should seek advice based on their own particular circumstances from an independent tax advisor. Non‐qualified withdrawals may be subject to federal and state taxes and the additional federal 10% tax. Non-qualified withdrawals may also be subject to an additional 2.5% California tax on earnings.

Investments in the Program are neither insured nor guaranteed and there is the risk of investment loss.

The ScholarShare 529 College Savings Plan Twitter and Facebook pages are managed by the state of California.

TIAA‐CREF Tuition Financing, Inc., Plan Manager.