Oklahoma 529 launches Smart Steps $50 bonus offer for new parents and grandparents

Treasurer McDaniel introduces bonus offer for Oklahoma families
in celebration of National College Savings Month

published September 7, 2022

Oklahoma City (Sept. 7, 2022) — State Treasurer Randy McDaniel today announced the launch of Oklahoma 529’s Smart Steps bonus offer that gives new parents and grandparents across the state a special $50 match on new Oklahoma 529 accounts opened for babies born in 2022.

“Oklahoma 529 offers flexible education savings options that can grow with a child and help create a brighter future with less debt regardless of the career path they choose,” said State Treasurer Randy McDaniel. “This special $50 bonus offer is our way of encouraging parents and grandparents to start saving today for their newborn’s education.”

McDaniel noted that September is National College Savings Month, which makes the topic of saving for education even more timely for all Oklahoma families.

“College Savings Month is a great reminder for all Oklahoma families to talk about education goals and saving now to achieve those aspirations together,” he said. “An Oklahoma 529 account can help a child be better prepared financially to pursue their desired education, whether that leads them to college, Oklahoma CareerTech or towards a different educational opportunity.”

To qualify for the $50 bonus from Oklahoma 529, parents and grandparents need to open an account for a new baby born in 2022 with $50 or more and set up recurring contributions of at least $25 for six months. To register for the offer, go to oklahoma529.com/newborn and open an account by December 31, 2022.* Enter the promotion code “SmartSteps50” while signing up. Access to additional resources for new and expecting families is available as well.

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About the Oklahoma 529

Introduced in April 2000, Oklahoma 529 is Oklahoma’s direct-sold 529 college savings plan. It is designed for families who want to open and manage their own 529 college savings accounts. As of June 30, 2022, assets in the Plan exceeded $1.10 billion.

Footnotes

  1. *When you open a new Oklahoma 529 account with a $50 contribution (and sign up for recurring contributions of $25 or more per month for a minimum of 6 months) between September 2, 2022, at 12:01 a.m. and December 31, 2022, at 10:59 p.m. (CT), Oklahoma 529 will match $50. Visit www.oklahoma529.com/newborn for terms and conditions. Void where prohibited or restricted by law. Promotion ends 12/31/2022. Sponsored by Oklahoma 529.
  2. To learn more about Oklahoma 529, its investment objectives, tax benefits, risks and costs, please see the Plan Description at oklahoma529.com. Read it carefully. Check with your home state to learn if it offers tax or other benefits such as financial aid, scholarship funds or protection from creditors for investing in its own 529 plan. Consider the investment objectives, risks, charges and expenses before investing in Oklahoma 529. Investments in the Plan are neither insured nor guaranteed and there is the risk of investment loss. Consult your legal or tax professional for tax advice. If the funds aren't used for qualified higher education expenses, a federal 10% penalty tax on earnings (as well as federal and state income taxes) may apply.
  3. TIAA-CREF Tuition Financing, Inc., Program Manager. TIAA-CREF Individual & Institutional Services, LLC, Member FINRA and SIPC, distributor and underwriter for Oklahoma 529.

For more information, contact:

Tim Allen, Treasurer’s Office, (405) 522-4212
Shaundra North, Koch Comm, (405) 219-7712

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