In 2008, State Treasurer John Perdue created partnerships—with citizens, businesses, and other government entities—to ensure that financial education programs and services would not only be available to the public, but most importantly, in the classroom. The cornerstone of the Treasurer’s financial education plan included a partnership with the State Board of Education to begin implementing his NetWorth program in kindergarten and continuing through all grade levels to produce financially literate high school graduates.
“The Nebraska Treasurer’s Office has announced a new streamlined system for banks, businesses and other organizations to report unclaimed property.
The new in-house method was developed by the Information Technology Division of the State Treasurer’s Office and became available Oct. 3, just in time for unclaimed property holders to meet the Nov. 1 deadline for turning over property whose owners cannot be located to the Treasurer’s Office.
Organizations, known as holders, can now create profiles, load records and submit reports without leaving the Treasurer’s website at https://treasurer.nebraska.gov/up/holder-reporting/. Holders have the option to manually enter property and owner information or use an Excel template to upload records. There is no charge to use the Treasurer’s reporting service.
In the past, holders had to use a third-party software or web developer to create their report files and submit them to the Nebraska Unclaimed Property Division. One of those third-party providers is now charging for the service.”
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“PROVIDENCE, R.I. — In the aftermath of an overhaul, Rhode Island’s CollegeBound savings programs won medal-level ratings this week from Morningstar, the Chicago data giant that tracks mutual funds, stocks and other investment securities.
Morningstar gave a silver rating to the CollegeBound Saver program and a bronze rating to CollegeBound 529 on Tuesday when it announced the best 529 college savings plans for 2016.
“The state overhauled both plans in July 2016, replacing former program manager AllianceBernstein with Invesco and Ascensus,” Morningstar wrote. “[CollegeBound Saver] offers extremely low fees for Rhode Island residents — the plan’s primary investors — earning it a Silver rating.”
Previously, Morningstar ranked the programs at the bottom among peers, due to high fees and poor investment performance, according to a news release issued by General Treasurer Seth Magaziner.
During his first year in office, Magaziner replaced AllianceBernstein and secured some of the lowest fees of any 529 plan in the nation for Rhode Islanders, the release says.”
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NOW, THEREFORE BE IT RESOLVED, that the National Association of State Treasurers and its affiliate, the College Savings Plans Network, urge the President and the Congress of the United States to pass these three bills (or substantially similar bills in subsequent Congresses) in a timely manner to enhance and expand opportunities for individuals with disabilities and their families to save for their future needs in ABLE programs.
The Illinois Secure Choice Savings Board (“Board”) authorized the Office of the Illinois State Treasurer (“Treasurer”) to issue this Request for Proposals for Investment & Program Consulting Services (“RFP”) on behalf of the Board for the Illinois Secure Choice Savings Program (“Secure Choice”).
The successful Respondent (“Contractor”) shall assist the Board and Treasurer with investment fund decisions as well as program structure and administrative decisions. Respondents must submit their Proposals by 2:00 p.m. CT on November 14, 2016. The ideal Respondent is one with a strong investment track record; comprehensive risk management skills; experience in program design, development, and administration for defined contribution retirement programs; and expertise in client counseling, portfolio management, and management and evaluation of passive equity and fixed income index funds, asset allocation, glide paths, and defined contribution best practices. The Contractor shall enter into a contract with the Treasurer (“Agreement”), with the Board’s approval, for an initial term of three (3) years. Upon expiration of this term, the Treasurer, with the Board’s approval, may elect to extend the Agreement for a period of time agreed upon by the parties, not to exceed a total of ten (10) years.
Finding money you didn’t know you had is like discovering lost treasure. For many people, there’s treasure to be found in old, forgotten bank accounts.
Las Vegas resident Michael Catania was surprised when he plugged his name into MissingMoney.com , a website for unclaimed-property searches, and learned that Massachusetts was holding money for him from a forgotten bank certificate of deposit.
The adjunct music professor had lived in four states over the past decade, including Massachusetts, where he had opened the $1,500 CD that had long since matured.
“I’m embarrassed that I forgot about an account with that much money,” he says, “but I was moving around a lot and the bank didn’t know how to reach me.”
According to the National Association of Unclaimed Property Administrators, a group of state officers, nearly $42 billion is sitting in state coffers, having come from financial institutions and other businesses with dormant accounts. In addition to old bank accounts, the property often is from unclaimed insurance policies, uncashed paychecks and abandoned safe-deposit boxes.
Save for college and enjoy some tax breaks too.
Formally known as a qualified tuition program or QTP, a 529 plan is a tax-advantaged way to save money for college. The “529” refers to the section of the IRS tax code that authorized the plans back in 1996.
While you don’t get a federal income-tax deduction for your contributions to the plan, they may be deductible on your state tax return if you invest in the plan run by the state you live in.
What’s more, the earnings on your account will not be taxed by the federal government, or by many states, as long as you use the money to pay qualified educational expenses. Those generally include tuition, mandatory fees, room and board, and required books.
BOISE — IDeal, Idaho’s 529 college savings program, is celebrating its 15-year anniversary.
Created by the Idaho legislature and launched in 2001, the state-sponsored program has helped more than 37,500 families, the program announced Tuesday.
In total, there’s 1,842 accounts held in south-central Idaho. Here’s the breakdown by county: 718 in Twin Falls County, 117 in Jerome County, 15 in Lincoln County, 664 in Blaine County, six in Camas County, 169 in Cassia County, 81 in Gooding County and 72 in Minidoka County.
IDeal also offers a state tax deduction ($4,000 for single filers and $8,000 for married filers), and earnings are not subject to state or federal tax if used on qualified expenses.
Washington State is the latest state to adopt standards for financial education in K-12 schools, the Seattle Times reports.
The state’s new financial literacy standards were adopted earlier this month. They’re based on a national model created by the Council for Economic Education and cover topics such as credit and debt, employment and income, investing, risk management and insurance, and financial decisionmaking.
State Superintendent Randy Dorn told the Seattle Times that financial education is important for students: “They need to know what interest is, how to calculate taxes, when to begin investing. Giving them those tools may help us avert the next financial crisis.”
For more than 25 years, the Florida Prepaid College Board (”Board”) has helped families plan and prepare to meet future postsecondary education expenses. Currently, the Board has an actuarial services contract with Ernst & Young, LLP for the Prepaid Plan. The contract expires on June 30, 2017. The Board is seeking a firm provide actuarial services beyond this date.
Issue Date: October 11, 2016
Questions Deadline: October 21, 2016, 5pm EST
Responses to Questions: October 26, 2016
ITN Response Deadline: November 10, 2016, 12 Noon EST