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Arkansas Creates Option to Directly Invest Tax Refunds in 529 College Savings Plans

"It is our ongoing goal to make it as easy as possible for Arkansas residents to invest in their future through contributions to their 529 account," explained Treasurer Shoffner. "With tax season here, families can start thinking ahead about directly investing their tax refunds into 529 accounts. This simple step will help add to their college savings, and I encourage account holders to consider taking advantage of the new option."

To apply a 2009 tax refund to an Arkansas 529 plan as a contribution in 2010, an Arkansas taxpayer must fill out tax form AR1000-CO, including their GIFT College Investing Plan or iShares 529 Plan account information. The account owner may elect to contribute all or part of their refund to up to two accounts, with a $25 minimum contribution to each account.

About The GIFT College Investing Plan

The GIFT College Investing Plan is a tax-advantaged 529 plan established by the State of Arkansas. It was designed to help families save for college and other qualified higher education costs. The GIFT Plan features a state income tax deduction for Arkansas taxpayers of up to $10,000 for married couples filing jointly ($5,000 if single),* a wide range of investment options from The Vanguard Group, Inc., and the opportunity for additional savings through Ugift, Upromise^®, and the Aspiring Scholars Matching Grant Program.

For more information about the GIFT College Investing Plan, please visit www.thegiftplan.com.

About the iShares 529 Plan

The iShares 529 Plan is the first no-load, all-ETF 529 solution specifically designed for fee-only advisors. The Plan's Portfolios invest in iShares ETFs. Attributes associated with iShares ETFs, such as transparency, flexibility, and low expenses, are reflected in the iShares 529 Plan, which allows advisors to customize a solution for their client from among 20 different investment options, including Custom iShares Portfolios, iShares Year-of-Enrollment Portfolios and iShares Asset Allocation Portfolios. Arkansas taxpayers can also deduct up to $10,000 for married couples ($5,000 if single).* For more information about the iShares 529 Plan, please visit www.iShares529.com

* Contributions to the Plan in a tax year are deductible from Arkansas state income, subject to recapture in subsequent years in which a non-qualified withdrawal or a rollover out to another state's 529 plan is made.

If you are not an Arkansas taxpayer, consider before investing whether your or the designated beneficiary's home state offers any state tax or other benefits that are only available for investments in such state's qualified tuition program.

For more information about The GIFT College Investing Plan call 1-800-587-7301 or visit www.thegiftplan.com to obtain a Program Description and Participation Agreement, which includes investment objectives, risks, charges, expenses and other information; read and consider it carefully before making an investment or sending money.

The GIFT College Investing Plan is a college tuition savings program sponsored by the State of Arkansas. Upromise Investments, Inc., which serves as Program Manager, has overall responsibility for the day-to-day operations of the Plan, including marketing and distributing the Plan. The Vanguard Group, Inc. serves as Investment Manager for the Plan. The Plan's portfolios, although they invest in Vanguard mutual funds, are not mutual funds. Units of the Portfolios are municipal securities and the value of units will vary with market conditions. Investment returns are not guaranteed, and you could lose money by investing in the GIFT Plan.

The GIFT Plan and The GIFT Plan logo are trademarks of the State of Arkansas.

For more information about the iShares 529 Plan, call 1-888-529-9552 or visit www.ishares529.com to obtain a Program Description and Participation Agreement which includes investment objectives, risks, charges, expenses, and other important information; read and consider it carefully before investing or sending money. Upromise Investments, Inc., Co-Distributor and Underwriter; BlackRock Fund Distribution Company, Co-Distributor.

The iShares 529 Plan is a college tuition savings program sponsored by the State of Arkansas and is administered by the Arkansas 529 Plan Review Committee. Upromise Investments, Inc., and Upromise Investment Advisors, LLC, serve as the Program Manager and Recordkeeping and Servicing Agent, respectively, with overall responsibility for the day-to-day operations, including marketing and co-distribution of the Plan. BlackRock Fund Distribution Company also has responsibility for co-distribution of the Plan. BlackRock Institutional Trust Company, N.A. serves as Investment Manager for the Plan. The Plan's portfolios, although they invest in exchange-traded funds, are not exchange-traded funds. Units of the Portfolios are municipal securities and the value of units will vary with market conditions.

iShares is a registered trademark of BlackRock Institutional Trust Company, N.A. All other trademarks, service marks or registered trademarks are the property of their respective owners.

BlackRock Institutional Trust Company, N.A. and BlackRock Fund Distribution Company are subsidiaries of BlackRock, Inc., none of which is affiliated with Upromise.

Not FDIC Insured. No Bank, State, or Federal Guarantee. May lose value.

Ebben Zall Group
Bill Ebben, 781-449-3244
bill@ebbenzallgroup.com