529 College savings plans 

Putting a child through college is an expensive challenge. To help you face this challenge, Horace Mann offers 529 college savings plans.

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529 savings plans feature:

  • Tax advantages, with earnings growing tax-deferred.
  • Tax advantages, deductions or credits are allowed in many states for contributions, and distributions used for higher education expenses have limited taxability.
  • Contributions to a 529 savings plan are subject to the gift tax exclusion limits set by the IRS each year. Generally, states do not impose annual contribution limits but have aggregate limits on 529 accounts.
  • No income limits, so you can contribute no matter how much you earn.
  • Withdrawals for qualified higher education expenses that are free from federal income tax (tuition, room and board, and required books and supplies).
  • Potential for federal and state income tax and a 10% tax penalty on earnings for non-qualified withdrawals.
  • Portability, allowing the account proceeds to pay for any accredited college (not just in your state) for undergraduate, graduate, post-graduate and technical training.
  • No restrictions on which member of the family you save for – a child, grandchild, niece, nephew, friend or yourself.
  • Control of assets, allowing you to decide when to make withdrawals.
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529 Colleges savings plan breakpoint discounts
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Savings calculators

As with all securities, 529 college savings plans do not guarantee that contributions and earnings will be adequate to cover your child’s future college costs. Also, 529 college savings holdings could impact the beneficiary’s ability to qualify for grants and student loans. 529 college savings plans vary by state, including contribution limits, state tax advantages, investment options, fees and expenses. Tax laws are subject to change; and depending on your state of residence, there may be an in-state plan that provides tax and other benefits not available through plans offered by Horace Mann Investors, Inc. You should consult with a tax advisor before investing in any state’s 529 plan.

529 college savings plans are offered by Horace Mann Investors, Inc., member FINRA / SIPC. Horace Mann Investors, Inc. is located at #1 Horace Mann Plaza, Springfield, IL 62715. You should read the prospectus and/or 529 plan program descriptions carefully and consider the investment objectives, risks, charges and expenses carefully before you invest or send money. The prospectus and 529 plan program descriptions will provide complete information about these subjects. You may review the 529 plan disclosure document for Capital Group’s CollegeAmerica® 529 savings plan, John Hancock Freedom 529 plan, and/or Tomorrow’s Scholar 529 plan. As with all securities, 529 college savings plans involve a risk of loss, including a loss of principal. 

To obtain a prospectus contact your Horace Mann Representative.

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