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Article: Appleton, Wis., Fraternal Benefits Society Rolls Out College Savings Product.
- Article from:
- The Post-Crescent (Appleton, WI)
- Article date:
- April 4, 2002
CopyrightCOPYRIGHT 2002 The Post-Crescent. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Avi Stern
Apr. 4--Aid Association for Lutherans/Lutheran Brotherhood hopes to capitalize on one of the nation's fastest growing investment options.
The $56 billion fraternal benefits society, which maintains sister operations in Minneapolis and Appleton, has begun rolling out a 529 college savings product.
Also known as "qualified state tuition plans," the 529s function much like independent retirement accounts. They allow people to contribute a maximum amount set by the plan, and have the assets grow tax-deferred until withdrawn. Furthermore, the account owner retains control of the account rather than the beneficiary, giving parents ...