529 College Savings Plans

529 College Saving Plans are designed to help investors save for the cost of college and other postsecondary school education. When established by states, 529 Plans are considered municipal securities and so must comply with rules issued by the Municipal Securities Rulemaking Board.

 

Following is information for broker-dealers and investors to assist in understanding these securities, and you have questions about 529 College Savings Plans, please send them to us via email.

 

Brokers-Dealers

• NASD and MSRB Joint Statement (PDF 22 KB)
  NASD and the Municipal Securities Rulemaking Board ("MSRB") release a joint statement on 529 Plans and the harmonization of MSRB rules and NASD rules to further protect the investing public.
   
• 529 Savings Plans: The In-State Versus Out-of-State Decision 
  This brief webcast addresses suitability issues surrounding 529 college savings plans. Available free and on-demand, this webcast is designed to help brokers understand the factors that should be taken into account before recommending a specific plan, such as in-state benefits, fees and expenses, investment options, and limitations and restrictions.
  
  
• MSRB 529 College Savings Plans and Municipal Fund Securities Web site
  The MSRB Web site provides compliance and investor guidance regarding 529 College Savings Plans.
  
  
• Section 529 College Savings Plan MSRB Rule Compliance Checklist
  
  
• Transcript from Phone-In Workshop — April 3, 2002 (PDF 65 KB)
  
  
• 529 Plan Frequently Asked Questions
  
  
• Section 529 College Savings Plans – SIPC Membership and Fidelity Bond Requirements
  (Regulatory & Compliance Alert article, Summer 2002)
  
  
• Municipal Fund Securities Limited Principal Qualification Examination (Series 51):
  Filing of Test Specifications, Study Outline and Extension of Transition Period
  
  
• Sales Material for Municipal Fund Securities (Notice to Members 03-17)

Investors

• Smart Saving for College
  FINRA's guide to Section 529 Plans and other ways to save for postsecondary school education.
  
  
• 529 Plan Expense Analyzer
  FINRA's tool to help you compare how 529 plan fees and expenses can reduce returns.
  
  
• College Savings Resources
  Additional resource links for learning about Section 529 Plans and other college savings options.

If members have questions about 529 Plans, please contact Malcolm Northam, FINRA, at (202) 728-8085, or contact the MSRB directly at (703) 797-6600.