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529 plans are named for the section of the federal tax code that governs them. They are most often sponsored by individual states and managed by a financial services company. The investments underlying a 529 plan typically consist of mutual funds.
Important points about 529 plans:
*Hartford Funds does not provide tax advice. Investors should work with a financial intermediary to select an appropriate investment option based on the investor's goals, particularly if the investor is considering using the assets for K-12 tuition. The SMART529 investment options were designed for saving for college, particularly the Age-Based Portfolios. Certain Portfolios may be more appropriate for saving for K-12 tuition than others. State income tax treatment varies by state. Please consult with a local tax advisor for more information.
**State income tax treatment varies by state. Please consult with a local tax advisor for more information.
College Savings Tips
What to Look for in a 529 Plan