Oklahoma 529 College Savings Plan

"College savers get bigger tax break" Tulsa World, June 28, 2005

The Only 529 Plan With An Oklahoma Income Tax Deduction — The Oklahoma 529 College Savings Plan provides families with a smart flexible way to save for higher education expenses. Contributions to Accounts are deductible, subject to certain limits. For each taxable year beginning after December 31, 2001 and before January 1, 2005, contributions of up to $2,500 by each contributor, to each Account are deductible for State income tax purposes. For taxable years beginning after December 31, 2004, the maximum annual deduction for contributions to all Accounts is $10,000 for individual or $20,000 for individuals filing a joint return. Any amount of a contribution made after 2004 that is not deducted by the taxpayer may be carried forward as a deduction from income for the succeeding five (5) years, subject to the annual maximum deduction on contributions.

For complete details about the Oklahoma College Savings Plan, visit our Program Overview section.

For Enrollment Materials, visit our Enroll Today section.

* The federal tax law allowing for qualified tax-free withdrawals is set to expire on December 31, 2010. Congress may or may not extend the law beyond this date.
 

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The tax information contained on the OCSP Web site is not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding tax penalties that may be imposed on the taxpayer. It was written to support the promotion of the products and services addressed in the Web site. Taxpayers should seek advice based on their own particular circumstances from an independent tax advisor.

The Oklahoma College Savings Plan (OCSP) is administered by the Board of Trustees of the Oklahoma College Savings Plan. TIAA-CREF Tuition Financing, Inc. (TFI) serves as Program Manager. TFI's affiliate, TIAA-CREF Individual & Institutional Services, LLC, is the distributor.

The investment approaches described are not recommendations and do not take into consideration personal goals or preferences. After evaluating information you consider important in making an investment choice, the ultimate decision is up to you. It is a good idea to revisit your investment strategy periodically as your goals, personal financial situation, and market conditions change.

Consider the investment objectives, risks, charges and expenses before investing in the Oklahoma College Savings Plan. Please call toll-free 1-877-654-7284 for a Disclosure Booklet containing this information. Read it carefully.

Before investing in a 529 plan, you should consider whether the state you or your designated beneficiary reside in or have taxable income in has a 529 plan that offers favorable state income tax or other benefits that are only available if you invest in that state's 529 plan.

The State of Oklahoma, its agencies, TIAA-CREF Tuition Financing, Inc., Teachers Insurance and Annuity Association of America and its affiliates do not insure any account or guarantee its principal or investment return. Account value will fluctuate based upon a number of factors, including general market conditions.

The OCSP Web site is for informational purposes only, and does not constitute an offer to sell or solicitation of an offer to buy any security that may be referenced on the site. Such offer or solicitation can be made only through the Disclosure Booklet.

The OCSP Web site contains links to other Web sites. Neither OCSP nor TIAA-CREF Tuition Financing, Inc. and its affiliates are responsible for the content of those other Web sites. The accuracy of information on those sites cannot be confirmed.

© 2009 TIAA-CREF Tuition Financing Inc.