[StBernard] A Message from State Treasurer John Kennedy

[Westley Annis]

The state of Louisiana is helping to make saving for college a little
easier.  The START 529 College Savings Plan is now offering and taking
applications for a new BabyMint Visa card.  The BabyMint Visa provides a 1
percent cash rebate on all card purchases and deposits the rebates into a
card holder's START account.  There is even a special promotion offering a
$25 bonus into a member's START account when they get the BabyMint Visa
card.  

 

In addition to rebates from the BabyMint Visa, account owners can also take
advantage of the START program's other benefits.  Last year, fixed income
investments in START earned a rate of return of 5.11 percent.  Various
investment options that included stocks earned between 7.93 percent and
15.69 percent.  On top of that, the state provides a 2 percent to 14 percent
match, or earnings enhancement, on START deposits depending on your income.
Monies deposited from purchases on the BabyMint Visa will earn interest and
earnings enhancements as well.

 

START also offers account owners a variety of income tax savings.  Deposits
into a START account are deductible from income reported on Louisiana tax
returns up to $2,400 per year, per account, or $4,800 per beneficiary if you
file a joint tax return.  In addition, earnings are exempt from state and
federal taxes when used to pay for qualified expenses.

 

As a START account owner myself, I can honestly say Louisiana's 529 Plan is
a sound and innovative program for college savings.  Now, with the new
BabyMint Visa, START is an even easier way for someone to save for a child's
college education.  To learn more, visit www.latreasury.com
<http://www.latreasury.com/>  and click "START."  


John Kennedy
State Treasurer