David Witkin, CEO of Beryl Capital Management, serves his community on the board of the Redondo Beach Unified School District in California. David Witkin’s expertise as a merger arbitrage hedge fund manager has been an important factor in helping the school district to maintain responsible budgeting. As a member of the school board, Mr. Witkin was instrumental in organizing College Savings Nights in January 2017.
During College Savings Nights, members of the community were invited to hear a consultant with ScholarShare Inc. who shared strategies for saving money for college, specifically addressing 529 plans. The 529 college savings programs are operated by a state or educational institution and are intended to make saving for college easier.
Section 529 plans, created by Congress in 1996, offer a number of tax incentives and advantages. First, the plans offer flexible ownership; anyone can set them up and anyone can benefit from the savings. The plans also offer tax deferred growth and tax free withdrawals. Finally, the plans feature a diverse offering of investments. By setting money aside early in a 529, parents or grandparents can accumulate a good start on their child’s educational fund.
Funds saved through a 529 plan can be used toward any educational institution that meets federal accreditation standards. This includes four year colleges and universities, two year colleges, graduate and doctoral programs, and vocational or technical schools. The funds can also be applied to other school related expenses such as room and board, books, and related technology.
During College Savings Nights, members of the community were invited to hear a consultant with ScholarShare Inc. who shared strategies for saving money for college, specifically addressing 529 plans. The 529 college savings programs are operated by a state or educational institution and are intended to make saving for college easier.
Section 529 plans, created by Congress in 1996, offer a number of tax incentives and advantages. First, the plans offer flexible ownership; anyone can set them up and anyone can benefit from the savings. The plans also offer tax deferred growth and tax free withdrawals. Finally, the plans feature a diverse offering of investments. By setting money aside early in a 529, parents or grandparents can accumulate a good start on their child’s educational fund.
Funds saved through a 529 plan can be used toward any educational institution that meets federal accreditation standards. This includes four year colleges and universities, two year colleges, graduate and doctoral programs, and vocational or technical schools. The funds can also be applied to other school related expenses such as room and board, books, and related technology.
