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FOR IMMEDIATE RELEASE
January 9, 2004
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For more information, call:
Jenalea Linn, spokesperson
785/296-3342
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STATE TREASURER ANNOUNCES THAT KANSAS 529 EDUCATION SAVINGS PROGRAM SETS NEW INVESTMENT RECORD FOR 2003
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TOPEKA - Kansas State Treasurer Lynn Jenkins, CPA, announced a new record was set for the Kansas 529 Education Savings Program. In the last week of 2003, the Kansas 529 Education Savings Program generated a record $18.3 million in account deposits. This amount surpassed the 2002 five day total by over $1.3 million.
"The response to our state's 529 plan has been overwhelming. Parents and grandparents understand the importance of higher education," said Jenkins. "The most important thing to Kansans is to offer them solid investment options and that is what we have achieved this year with our 529 enhancements. However, the real winners are the children and grandchildren who will benefit from higher education."
Investors in the Kansas 529 plan were encouraged to make donations by December 31, 2003 to qualify for special tax advantages. Currently, Kansas taxpayers can receive an adjusted gross income tax deduction on their state filing of up to $2,000 ($4,000 for couples, filing jointly) per beneficiary, per year. Jenkins has introduced a bill for the 2004 Legislative session that seeks to increase these tax incentives for Kansas taxpayers to $4,000 ($8,000 for couples, filing jointly) per beneficiary, per year.
The five day totals for 2002 and 2003 are outlined below:
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December 24, 2003: $1,562,288
December 26, 2003: $1,909,262
December 29, 2003: $4,898,585
December 30, 2003: $5,323,326
December 31, 2003: $4,622,573
2003 Five Day Total: $18,316,034
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December 24, 2002: $1,593,992
December 26, 2002: $2,655,984
December 27, 2002: $2,411,569
December 30, 2002: $6,549,390
December 31, 2002: $4,716,658
2002 Five Day Total: $17,927,593
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Kansas State Treasurer Lynn Jenkins, CPA is a former State Representative and Senator from Topeka and was elected as the 37th Treasurer of Kansas on November 5, 2002. For more information about the Kansas 529 program or any of the programs offered by Treasurer Jenkins, please access her Web page at www.kansasstatetreasurer.com.
Learning Quest and the Schwab 529 College Savings Plan are administered by Kansas State Treasurer Lynn Jenkins, CPA.
Managed by American Century Investment Management, Inc. Notice: Accounts established under either Learning Quest or the Schwab 529 College Savings Plan and their earnings are neither insured nor guaranteed by the State of Kansas, the Kansas State Treasurer, American Century or Charles Schwab & Co., Inc. Learning Quest is distributed by American Century Investment Services, Inc. Accounts established under the Schwab 529 Plan are domiciled at American Century and not at Schwab.
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