Treasurer Fitzgerald Awards $1000 College Savings Iowa Account to Baby Born at Iowa Methodist in Des Moines

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David Stark, President; Diana Kaufman M.D.; Kim Killpack RN, Maternity Center Supervisor, Emma and Melanie Boughton; Peggy Black RN, Maternity Center Manager; Michael Fitzgerald, Iowa State Treasurer

DES MOINES, IA (04/18/2011)(readMedia)-- Thanks to the College Savings Iowa Baby 529 Giveaway, one lucky Iowa baby is well on her way to saving what she'll need to head to college someday. Baby Emma, born at Iowa Methodist Hospital, was chosen as the latest winner of a $1000 College Savings Iowa account after her parents, Melanie and Addison Boughton, logged on to www.iowababy529.com and registered her to win. The award, courtesy of College Savings Iowa, is given once a month to a baby born at a participating hospital.

State Treasurer Michael Fitzgerald met with the family today to offer his words of congratulations as well as a few thoughts on the importance of saving for college early on. "With college tuition rates rising higher than inflation, everyone knows saving for college is no easy task these days," Fitzgerald said. "Your best defense is to start saving early. Fortunately for Baby Emma, the Baby 529 Giveaway was able to give her a head-start on saving, but you don't need to win an award to take advantage of College Savings Iowa. With as little as ten minutes and $25, you can start an account for a loved one in your life today. You'll be glad you did."

Treasurer Fitzgerald would like to thank Iowa Methodist for helping him spread the message to families about the importance of saving for college. By participating in the Baby 529 Giveaway, the hospital puts information about saving early and a chance to win a $1,000 College Savings Iowa account in hands of new parents. "We appreciate your willingness to help us get this important message out to parents," said Fitzgerald.

David Stark, President of Blank Children's Hospital; Diana Kaufman M.D., obstetrician with Ankeny Clinic OB/GYN; Kim Killpack, RN, Iowa Methodist Maternity Supervisor and Peggy Black, RN, Iowa Methodist Maternity Manager were on hand to congratulate the family.

About the College Savings Iowa BABY 529 Giveaway

The Baby 529 Giveaway awards one $1,000 College Savings Iowa account each month to a randomly selected baby. All babies born in participating Iowa hospitals are eligible to win if they register for the monthly drawing. Seventy one hospitals currently participate in the program and provide college savings materials to families before they leave the hospital. To learn more about the program, please visit www.iowababy529.com.

About College Savings Iowa

College Savings Iowa is a state-sponsored 529 plan designed to give families a tax-advantaged way to save money for college. Iowa taxpayers can deduct up to $2,865 in contributions per beneficiary account from their adjusted gross income in 2011,* and there are no income or residency restrictions. Withdrawals used to pay for qualified higher education expenses including tuition; books, supplies, and room and board are free of state and federal taxes. Funds can be used at any accredited college, university, community college or technical training school in the United States or abroad.** For more information on College Savings Iowa, visit www.collegesavingsiowa.com or call 1-888-672-9116.

*Adjusted annually for inflation. If withdrawals are not qualified, the deductions must be added back to Iowa taxable income.

** The earnings portion of non-qualified withdrawals may be subject to federal income tax and a 10% federal penalty tax, as well as state and local income taxes. The availability of tax or other benefits may be contingent on meeting other requirements.

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