PA 529 Families Could Receive $1,000 Education Savings Bonus

HARRISBURG — More than 100,000 Pennsylvania families with qualifying PA 529 Guaranteed Savings Plan accounts could receive a $1,000 bonus contribution toward education savings.

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The Pennsylvania Treasury Department says the bonus will be distributed from surplus funds in the Guaranteed Savings Plan. Nearly $107 million will be distributed among 106,914 accounts, representing about 89% of participants in the plan.

To qualify, account holders must have had at least $1,000 in their account as of July 31, or at least $100 in the account with contributions made since 2022.

Eligible account owners will see the $1,000 deposit reflected on their third-quarter statement.

The Treasury says the Guaranteed Savings Plan was 156.04% funded as of June 30, with a surplus of approximately $1.06 billion.

More information about the PA 529 program is available at pa529.com.