Overview

In 1991, the College Savings Plans Network (CSPN) was formed as an affiliate of the National Association of State Treasurers

National Association of State Treasurers

The National Association of State Treasurers is a not-for-profit organization consisting of state treasurers or comparable senior finance officials from U.S. states, commonwealths, territories, and the District of Columbia. The association is headquartered in Lexington, Kentucky and affiliated with...

 to make higher education

Higher education

Higher, post-secondary, tertiary, or third level education refers to the stage of learning that occurs at universities, academies, colleges, seminaries, and institutes of technology...

 more attainable for families of all income levels. CSPN publishes bi-annual reports on assets in state-administered college savings programs, monitors federal activities and promotes legislation that will positively affect Section 529 plan

529 plan

A 529 plan is a tax-advantaged investment vehicle in the United States designed to encourage saving for the future higher education expenses of a designated beneficiary.- Overview :529 plans are named after section 529 of the Internal Revenue Code...

s, and identifies financial opportunities to help families save for higher education.

CSPN provides a valuable networking opportunity for state officials responsible for administering 529 plans to gather and share their unique innovations and experiences in an effort to significantly increase participation in Section 529 plans and in turn, help the youth of this nation attain education goals.

The Network hosts a website that provides interested parents and families with comprehensive information about each 529 plan. It includes a college cost calculator and also a 529 plan comparison tool that helps families evaluate 529 plans based on criteria such as state tax benefits, fees, investment options and investment manager.

Joan Marshall is the chair of the CSPN. She is also the executive director of College Savings Plans of Maryland. The executive board includes five state treasurers: Hon. Bill Lockyer (CA), Hon. Michael Fitzgerald (IA), Hon. Richard Mourdock (IN), Hon. Tate Reeves (MS) and Hon. Rich Stattgast (SD) as well as state program directors and a representative of the network’s corporate affiliates: Andrea Feirstein (AKF Consulting Group), Betty Lochner (Washington Guaranteed Education Tuition), Jim Lynch (University of Alaska), Mary Morris (Virginia College Savings Plan) and Lynne Ward (Utah Educational Savings Plan).

Legislation

During the 112th Congress, CSPN supported legislation introduced in the U.S. House of Representatives by Congresswoman Lynn Jenkins, (R-KS) and Congressman Ron Kind, (D-WI), H.R. 529, that would include 529 plan contributions in the SAVERs tax credit; provide employers with an incentive to match contributions made to 529 plans by their employees; make permanent the inclusion of computers as a qualified expense; and provide for four annual investment direction changes.