News & Press Releases
Oklahoma 529 College Savings Plan kicks off Pigskin Piggybank Sweepstakes
OKLAHOMA CITY – State Treasurer Ken Miller announced the kickoff of the Oklahoma 529 College Savings Plan’s inaugural Pigskin Piggybank Sweepstakes, which will see one Oklahoma family win $5,529 for college, plus $5,529 for their student’s school.
“We want Oklahoma families to huddle up and make a game plan to pay for college,” said Miller. “Some families might be tempted to punt these important decisions into the future, but starting to save early can move families closer to their savings goal.”
Miller is board chair of the Oklahoma 529 College Savings Plan (OCSP).
One randomly chosen family will receive a $5,529 OCSP account on behalf of their child. OCSP will also make a $5,529 donation to the winning student’s school.
“Schools across Oklahoma are our teammates in reinforcing the importance of saving and preparing for college,” Miller said. “The $5,529 school prize gives us the opportunity to help one school with the great work they’re doing.”
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 who is also an Oklahoma resident.
“Paying for college doesn’t have to come down to a Hail Mary hope for scholarships, or getting tackled by crushing student debt,” Miller said. “A solid game plan to move steadily closer to the goal line is always a winning strategy.”
Sweepstakes entry, official rules and additional information are available at www.ok4saving.org/Pigskin. The random winner will be formally announced after the sweepstakes concludes on October 31. No purchase required. Void where prohibited.
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 https://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 July 31, 2018, combined assets in both plans exceeded $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 visit www.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.
Consult your legal or tax professional for tax advice, including the impact of the new federal tax changes. 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.
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.
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