Plan Basics

Utah’s Official 529 Plan
The Utah Educational Savings Plan (UESP) was authorized by the Utah Legislature and is designed to comply with Section 529 of the Internal Revenue Code. UESP is administered and managed by the Utah State Board of Regents and the Utah Higher Education Assistance Authority.

A trust fund established and sponsored by the State of Utah, UESP is the official and only 529 plan sponsored by the state. The Utah Educational Savings Plan is a “direct-sold” 529 plan, which means that you can set up an account and make contributions by contracting directly with UESP. You do not need a financial adviser or broker to do this for you.

Looking for tax-free earnings? Contributions to UESP accounts are not deductible for federal income tax purposes; however, earnings on investments in UESP accounts grow federally tax-deferred. As long as the funds are used for qualified higher education expenses of the beneficiary at an eligible educational institution, earnings from an account will not be subject to federal income tax.

Earnings are also exempt from Utah state taxes if used for qualified higher education expenses.

If you are not a Utah taxpayer, please see if the state where you or your beneficiary live or pay taxes offers a 529 plan that provides tax or other benefits not otherwise available through UESP.

Investment Options
Utah Educational Savings Plan offers ten different investment options, including five age-based options and five static options. Each option provides a different type of investment and different level of risk for the UESP account. Select one option per account when enrolling online or completing the Account Agreement form. All future contributions to the account will be invested according to the investment option you indicate when the account is opened. However, if you decide you want to change your investment option and you can do so in compliance with the rules of UESP, then simply submit an Investment Option Change form.1

1 Account owners can only change investment options on an existing account for the same beneficiary once every calendar year. Other limitations apply. Please see the Program Description for more details.

© UESP 2008
The terms Utah Educational Savings Plan and UESP are registered trademarks.

Investors should read the Program Description and consider all investment objectives, risks, charges, and expenses before investing. The Program Description is available for download on the Web or a hard copy can be mailed to you by requesting it online from this Web site.

Investments are not guaranteed by UESP, the Utah State Board of Regents, the UHEAA, the FDIC, or any other state or federal government agency. Your investment may lose value.

Investors who are not Utah taxpayers should determine whether the state in which they or their beneficiary reside or pay taxes offers a 529 plan, and if so, whether that plan offers state tax or other benefits not available through UESP.

 

For more details about how our plan works download a copy of our Program Description.

Click here to download.
Click here to request a copy be sent to you