529 Account

All 529 plans have a variety of expenses, including underlying investment fees and program management fees. Betterment does not collect any of these fees. The plan program description, which can be found on a plan’s website, should be reviewed to understand all 529 plan fees and expenses.

Knowing your contribution and balance limit for a 529 plan is helpful when planning for the future. All 529 plans have their own contribution and balance limits. These limits begin around $150,000 for single contributions and $230,000 for aggregate account balances. For more information on a specific 529 plan, please reference the plan program descriptions found in your Betterment account or on the plan’s website.

The odds are yes. Most states do offer at least one 529 plan. These plans are state sponsored and generally include the state name in the plan name or website. As of now, Wyoming is the only state that does not offer a 529 plan. The good news is that you do not have to select a 529 for the state you live in. You should review the program description of the 529 for any residency requirements.

Check with your employer to confirm whether or not they have included the option to open a 529 Account in your benefits package with Betterment. If your employer does not offer 529 benefits, you can still enroll in the 529 plan of your choice directly on the plan website. Then, you can connect your 529 account to Betterment. This will allow you to view your 529 within Betterment. Alternatively, if you already have a 529 Account, you may connect this account to your Betterment account by logging ...

To enroll in a 529, you will need to log into your Betterment account on a web browser by clicking here. Once you are logged in, select +Add New to add a new 529 goal. You will be prompted to answer a few questions about the beneficiary of the 529 and then you will be presented with a few 529 plan options. You can also view all 529 plans and select the plan you’d like to enroll in. If you select a plan that Betterment integrates with, you will be able to enroll through your Betterment account. ...

You may notice that most 529 plans reference a specific state either on their plan website or in their plan name. 529 Plans are sponsored by states, and many states even offer multiple plans to choose from. It is important to note that an individual wishing to open a 529 is not required to participate in an account offered by the state they reside in. You may have the opportunity to open an account with a 529 plan offered by a different state. Plan program descriptions (commonly listed on plan ...

A 529 account is an investment account that offers tax benefits when used to pay for qualified education expenses. 529 funds are invested and later used to pay for the beneficiary’s education expenses. There are two types of 529 plans: Education Savings Plan: These plans allow account owners to invest their assets with the potential to grow over time. These funds can then be used on the listed beneficiary’s tuition and other education expenses outlined in the program plan description, which can ...

To add an existing 529 account to Betterment, first log into your Betterment account from a web browser. From here, click Add New on the left hand side of the page to add a new goal and select 529s. Next, select Connect an existing 529. Here you will have the option to select your 529 Plan. If your plan is not listed then it is a plan that Betterment does not integrate with directly. Click the Don’t see your 529 Plan? button to continue to connect your 529 as an external account via Plaid. ...

If Betterment integrates with your 529 plan, you can make recurring or one-time payments to your linked 529 account. These payments can be made from a bank account or payroll deduction. To make a one-time or recurring payment from your bank account, you will need to select the Deposit button in your Betterment account. If you haven’t done so already, you’ll have to connect your bank account to fund the 529. You can then select the 529 account that you want to fund and enter the frequency and ...

When enrolling in a new 529 through Betterment, the Betterment user must be the account owner of the 529. A user cannot enroll in a 529 on behalf of another account owner. However, existing 529 accounts that Betterment integrates with may be connected and contributed to through Betterment regardless of who the account owner is. There are no beneficiary restrictions associated with 529 accounts, however if the account owner is the beneficiary of the 529 account, the account owner’s employer ...

When investing in a 529, you will come across two different types of investment options. Some investments are managed by the plan and are designed to become more conservative over time. Alternatively, you can customize your own allocations, giving you direct control of what funds and/or portfolios to invest in. You should reference plan program descriptions for details about investment options.

If you have an integrated 529 plan, you may update payments into the 529 account directly from your Betterment account. In order to update your payment information, please log into your Betterment account from a web browser. From here, choose your 529 Plan goal from the left hand side. You can either make a one time deposit from a linked bank account by choosing Deposit in the right hand corner, or set up an auto-deposit. To set up an auto deposit, please choose Set Up next to your goal. This ...

If you are no longer working for the employer and have a connected 529, you may continue to use the connected 529. Please note that some features will no longer be available once you leave the employer, such as payroll contributions and employer match.

Account owners of 529 plans may update beneficiary information at any time. Beneficiary updates for 529 accounts currently cannot be made within the Betterment system. Please visit your 529 plan website directly in order to change beneficiary information.

You may be able to transfer or “roll over” your 529 funds to another 529 account. In order to initiate a rollover, this action must be completed on the plan website. If your account is integrated, you can access the plan website by logging into your Betterment account from a web browser, and navigating to the Settings section of your 529 goal.