Oregon State Treasury: News http://www.oregon.gov/treasury/Lists/News/AllItems.aspx RSS feed for the News list. Sun, 26 May 2013 01:53:44 GMT Microsoft SharePoint Foundation RSS Generator 60 en-US Oregon State Treasury: News http://www.oregon.gov/treasury/_layouts/images/siteIcon.png http://www.oregon.gov/treasury/Lists/News/AllItems.aspx Record number of Oregonians are investing record amount for higher education through state '529' plan http://www.oregon.gov/treasury/Lists/News/DisplayForm.aspx?ID=60 Date: 5/17/2013
Sub-Title: Oregon 529 College Savings Network reaches $1.8 billion in combined assets as of March 31
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SALEM – More families than ever are saving for higher education and job training through Oregon’s tax-saving college investment plans, and the combined value of those assets is approaching a record $2 billion.

 

Surging financial markets have helped to boost the value of existing portfolios. At the same time, the pace of both new signups for the plan and new contributions from existing investors are faster thus far in 2013, compared to a year ago.
The numbers suggest strong public confidence in the 13-year-old Oregon 529 College Savings Network, which was reformed by the State Treasury since 2010 to provide more investment options, a higher level of oversight and lower fees. The Oregon 529 College Savings Board received an update this week on the level of investments through the state-sponsored plan.
“Every Oregonian will benefit when higher education is more within reach,” said State Treasurer Ted Wheeler. “The Oregon 529 College Savings Network is a one key way we can help Oregonians to obtain degrees and be better prepared for highly skilled jobs.”
The Network gives families several options to invest, while also qualifying for state and federal tax benefits. The accounts can be used to pay for tuition, room and board, and even books at accredited colleges and trade schools both in and outside of Oregon.
There are two ways that families can invest. They can sign up for their own accounts and guide their own investments in the Oregon College Savings Plan, which is administered by TIAA-CREF Tuition Financing. Or they can invest through an advisor in the Oregon Plan offered by MFS Investment Management.
Figures through March 2013 show that 136,409 accounts are open through the two plans that make up the Oregon 529 College Savings Network, with 2,908 new accounts opened in the first quarter of the year.
The maximum tax deduction for Oregon 529 contributions for 2013, which adjusts annually for inflation, is $4,455 for joint filers and $2,225 for all other filers. The deduction is an Oregon incentive for families to save. In addition, the investments grow tax-free as long as they are used for qualifying expenses, under section 529 of the Internal Revenue Code.
 
Also this week, the Oregon 529 College Savings Board approved a change to the plan oversight that will allow for individuals to have accounts through both the investment options in the Oregon plan, the adviser-sold MFS plan and the Oregon College Savings Plan. Currently, families must choose one option or the other.
 

 

The Oregon State Treasury protects public assets and saves Oregonians money through its investment, banking, and debt management functions. State investment policies are overseen by the Oregon Investment Council. The State Treasury also promotes public outreach and education to help Oregonians learn strategies to save money, invest for college and make smart financial choices. You can track Treasury-related news on Twitter at @OregonTreasury.
 

 

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]]> James Sinks Fri, 17 May 2013 21:23:44 GMT http://www.oregon.gov/treasury/Lists/News/DisplayForm.aspx?ID=60 Treasurer Wheeler highlights need to bolster financial literacy, during visit at Silverton school http://www.oregon.gov/treasury/Lists/News/DisplayForm.aspx?ID=59 Date: 5/16/2013
Sub-Title: Annual 'Reading is an Investment' program saw record 5,656 entries in its 7th year
Content:

 

SILVERTON – Victor Point School, located eight miles outside Silverton, is surrounded by fields of rolling green farmland – and now, there’s a little more green inside.
 
As in, money.
 
State Treasurer Ted Wheeler visited the school Wednesday to mark the conclusion of this year’s Reading is an investment program, the Oregon Treasury’s outreach effort that helps elementary school-aged children learn more about financial concepts.
 
As part of Reading is an Investment, students who complete the requisite hours of reading can enter a random drawing for a $500 account through the Oregon College Savings Plan. The entire fourth grade class at Victor Point completed the requirements, and one student was among the 50 winners of the drawing statewide.
 
Also, because a student at Victor Point was a winner in the drawing, the school received $500. Treasurer Wheeler delivered the check to Principal Linda Myers during an assembly in which he spoke about the value of financial literacy. He also attended an ice cream party with the fourth grade class.
 
“You need to make good choices with money, or else you’ll spend more than you need to,” Treasurer Wheeler said. “Reading is an Investment is helping to build a stronger foundation for our next generation when it comes to saving and making smart financial decisions.”
 
A record 5,656 entries were submitted this year. Students can submit multiple entries if they complete sufficient hours of reading.
 
The Oregon State Treasury sent packets with two donated books to 810 public elementary school libraries across the state. The program is voluntary and all elementary-school-aged Oregon children are invited to participate, no matter where they go to school or if they are home-schooled. The books were selected by teachers and librarians, and each book is aligned with state standards in math, language arts, social sciences, the arts, and career-related learning.
 
A list of winners is available to reporters, by request, by calling (503) 378-4329, or by email.               
 
The Oregon State Treasury protects public assets and saves Oregonians money through its investment, banking, and debt management functions. The office also promotes public outreach and education to help Oregonians learn strategies to save money, invest for college and make smart financial choices. You can track Treasury-related news on Twitter at @OregonTreasury.
 
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Winners came from the following Oregon schools:
 
Arlington Community Charter School            Arlington         (2)
Buena Vista Elementary School                     Eugene                       
Carus School                                                   Oregon City    (4)
Central Howell Elementary School                Silverton          (2)
Columbus Elementary School                         McMinnville
Dayton Grade School                                     Dayton            Or       
Eagle Charter School                                      Salem
East Elementary School                                  Tillamook       
Foster Elementary School                               Foster
Gearhart Elementary School                           Gearhart          (2)
Grant Watts Elementary School                     Scappoose
Hogan Cedars Elementary School                  Gresham         
Jackson Elementary School                            Hillsboro         (2)
Jewett Elementary School                              Central Point
Kelly Creek Elementary School                      Gresham
Kennedy Elementary School                          Keizer 
Knova Reynolds Public Charter School         Portland          (2)
Memorial Elementary School                          McMinnville
Meriweather Lewis Elementary                      Portland
Middleton Elementary                                    Sherwood
Myers Elementary School                               Salem             (2)
North Bay Elementary School                        North Bend     (6)
Pioneer Elementary School                             Ontario
Pringle Elementary School                              Salem
Richmond Elementary School                        Salem
Rivers Edge Academy Charter School           Rogue River
Ruch Elementary School                                Jacksonville
Sage Community School                                Chiloquin
Trillium Creek Primary School                        West Linn
Valley Inquiry Charter School                        Salem              (2)
Victor Point Elementary School                     Silverton
W W Jones Elementary School                       Arock
Wallowa Elementary School                           Wallowa
White City Elementary School                       White City
Willagillespie Elementary School                   Eugene
 
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]]> James Sinks Thu, 16 May 2013 18:41:00 GMT http://www.oregon.gov/treasury/Lists/News/DisplayForm.aspx?ID=59