Investing May 22, 2009

529s Shed 12.4% in Assets in Q408

May 22, 2009 (PLANSPONSOR.com) - The combined assets of all Section 529 college savings plans fell 12.4% in the fourth quarter to $104.9 billion.
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At the end of December 2008, prepaid plans accounted for $15.6 billion, while savings plans held another $89.4 billion, according to data gathered by the Investment Company Institute (ICI).

The number of Section 529 plan accounts increased 1.3% to about 11.2 million in the fourth quarter of 2008. There were 2.3 million prepaid plan accounts and 8.9 million savings plan accounts. The average 529 savings plan account size was about $10,000 in December 2008.

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According to the data, the largest such program nationally was the Virginia Savings Plan, which, as of December 2008, had 1.89 million accounts and $19.7 billion in assets.   

Meanwhile, the Florida Prepaid program had 1.3 million accounts and $7.2 billion in total assets.

More information is available here .  

Collegce Savings Plan Network Program Statistics
Reporting date: December 31, 2008

State or other territory

style="TEXT-ALIGN: center"> Value of actual funds (millions of dollars)

style="TEXT-ALIGN: center"> Total number of accounts*
/contracts

style="TEXT-ALIGN: center"> Date of inception

Alabama Prepaid

style="TEXT-ALIGN: right"> $483.9

style="TEXT-ALIGN: right"> 74,981

style="TEXT-ALIGN: center"> 1990

Alabama Savings**

style="TEXT-ALIGN: right"> $537.4

style="TEXT-ALIGN: right"> 67,620

style="TEXT-ALIGN: center"> June 2002

Alaska

style="TEXT-ALIGN: right"> $2,531.3

style="TEXT-ALIGN: right"> 345,254

style="TEXT-ALIGN: center"> 1991

Arizona

style="TEXT-ALIGN: right"> $385.6

style="TEXT-ALIGN: right"> 63,474

style="TEXT-ALIGN: center"> June 1999

Arkansas

style="TEXT-ALIGN: right"> $142.5

style="TEXT-ALIGN: right"> 9,147

style="TEXT-ALIGN: center"> November 1999

California

style="TEXT-ALIGN: right"> $2,706.1

style="TEXT-ALIGN: right"> 236,477

style="TEXT-ALIGN: center"> October 1999

Colorado Prepaid

style="TEXT-ALIGN: right"> $33.5

style="TEXT-ALIGN: right"> 13,956

style="TEXT-ALIGN: center"> September 1997

Colorado Savings

style="TEXT-ALIGN: right"> $2,576.5

style="TEXT-ALIGN: right"> 243,701

style="TEXT-ALIGN: center"> September 1997

Connecticut

style="TEXT-ALIGN: right"> $960.0

style="TEXT-ALIGN: right"> 75,365

style="TEXT-ALIGN: center"> December 1997

Delaware

style="TEXT-ALIGN: right"> $322.3

style="TEXT-ALIGN: right"> 27,649

style="TEXT-ALIGN: center"> July 1998

District of Columbia

style="TEXT-ALIGN: right"> $90.5

style="TEXT-ALIGN: right"> 9,548

style="TEXT-ALIGN: center"> November 2002

Florida Prepaid

style="TEXT-ALIGN: right"> $7,230.4

style="TEXT-ALIGN: right"> 1,324,671

style="TEXT-ALIGN: center"> 1988

Florida Savings

style="TEXT-ALIGN: right"> $138.5

style="TEXT-ALIGN: right"> 35,199

style="TEXT-ALIGN: center"> November 2002

Georgia

style="TEXT-ALIGN: right"> $550.6

style="TEXT-ALIGN: right"> 75,575

style="TEXT-ALIGN: center"> April 2002

Hawaii

style="TEXT-ALIGN: right"> $36.3

style="TEXT-ALIGN: right"> 3,675

style="TEXT-ALIGN: center"> May 2002

Idaho

style="TEXT-ALIGN: right"> $126.7

style="TEXT-ALIGN: right"> 3,167

style="TEXT-ALIGN: center"> February 2001

Illinois Prepaid

style="TEXT-ALIGN: right"> $802.1

style="TEXT-ALIGN: right"> 59,366

style="TEXT-ALIGN: center"> October 1998

Illinois Savings

style="TEXT-ALIGN: right"> $2,216.2

style="TEXT-ALIGN: right"> 223,876

style="TEXT-ALIGN: center"> March 2000

Indiana

style="TEXT-ALIGN: right"> $735.0

style="TEXT-ALIGN: right"> 138,546

style="TEXT-ALIGN: center"> 1997

Iowa

style="TEXT-ALIGN: right"> $1,694.3

style="TEXT-ALIGN: right"> 185,853

style="TEXT-ALIGN: center"> September 1998

Kansas

style="TEXT-ALIGN: right"> $1,711.6

style="TEXT-ALIGN: right"> 134,995

style="TEXT-ALIGN: center"> July 2000

Kentucky Prepaid

style="TEXT-ALIGN: right"> $121.5

style="TEXT-ALIGN: right"> 8,718

style="TEXT-ALIGN: center"> October 2001

Kentucky Savings

style="TEXT-ALIGN: right"> $88.6

style="TEXT-ALIGN: right"> 9,560

style="TEXT-ALIGN: center"> 1990

Louisiana

style="TEXT-ALIGN: right"> $185.6

style="TEXT-ALIGN: right"> 38,024

style="TEXT-ALIGN: center"> July 1997

Maine

style="TEXT-ALIGN: right"> $4,059.6

style="TEXT-ALIGN: right"> 205,048

style="TEXT-ALIGN: center"> August 1999

Maryland Prepaid

style="TEXT-ALIGN: right"> $429.3

style="TEXT-ALIGN: right"> 35,122

style="TEXT-ALIGN: center"> April 1998

Maryland Savings

style="TEXT-ALIGN: right"> $1,282.8

style="TEXT-ALIGN: right"> 133,375

style="TEXT-ALIGN: center"> December 2001

Massachusetts Prepaid

style="TEXT-ALIGN: right"> $88.0

style="TEXT-ALIGN: right"> 37,000

style="TEXT-ALIGN: center"> 1995

Massachusetts Savings

style="TEXT-ALIGN: right"> $2,272.4

style="TEXT-ALIGN: right"> 155,254

style="TEXT-ALIGN: center"> March 1999

Michigan Prepaid

style="TEXT-ALIGN: right"> $809.3

style="TEXT-ALIGN: right"> 89,615

style="TEXT-ALIGN: center"> 1988

Michigan Savings

style="TEXT-ALIGN: right"> $1,688.6

style="TEXT-ALIGN: right"> 189,524

style="TEXT-ALIGN: center"> 2001

Minnesota

style="TEXT-ALIGN: right"> $557.4

style="TEXT-ALIGN: right"> 51,055

style="TEXT-ALIGN: center"> September 2001

Mississippi Prepaid

style="TEXT-ALIGN: right"> $202.0

style="TEXT-ALIGN: right"> 25,837

style="TEXT-ALIGN: center"> 1997

Mississippi Savings

style="TEXT-ALIGN: right"> $73.7

style="TEXT-ALIGN: right"> 9,494

style="TEXT-ALIGN: center"> March 2001

Missouri

style="TEXT-ALIGN: right"> $1,087.8

style="TEXT-ALIGN: right"> 49,778

style="TEXT-ALIGN: center"> November 1999

Montana

style="TEXT-ALIGN: right"> $213.6

style="TEXT-ALIGN: right"> 24,030

style="TEXT-ALIGN: center"> 1998

Nebraska

style="TEXT-ALIGN: right"> $1,595.2

style="TEXT-ALIGN: right"> 169,715

style="TEXT-ALIGN: center"> January 2001

Nevada Prepaid

style="TEXT-ALIGN: right"> $87.9

style="TEXT-ALIGN: right"> 12,599

style="TEXT-ALIGN: center"> October 1998

Nevada Savings

style="TEXT-ALIGN: right"> $4,018.3

style="TEXT-ALIGN: right"> 460,908

style="TEXT-ALIGN: center"> October 2001

New Hampshire

style="TEXT-ALIGN: right"> $6,467.7

style="TEXT-ALIGN: right"> 609,921

style="TEXT-ALIGN: center"> July 1998

New Jersey

style="TEXT-ALIGN: right"> $1,678.4

style="TEXT-ALIGN: right"> 221,978

style="TEXT-ALIGN: center"> August 1998

New Mexico

style="TEXT-ALIGN: right"> $1,384.5

style="TEXT-ALIGN: right"> 204,228

style="TEXT-ALIGN: center"> September 2000

New York

style="TEXT-ALIGN: right"> $7,008.1

style="TEXT-ALIGN: right"> 426,415

style="TEXT-ALIGN: center"> September 1998

North Carolina

style="TEXT-ALIGN: right"> $358.1

style="TEXT-ALIGN: right"> 62,533

style="TEXT-ALIGN: center"> June 1998

North Dakota

style="TEXT-ALIGN: right"> $262.9

style="TEXT-ALIGN: right"> 3,268

style="TEXT-ALIGN: center"> September 2001

Ohio Guaranteed Fund

style="TEXT-ALIGN: right"> $592.1

style="TEXT-ALIGN: right"> 137,227

style="TEXT-ALIGN: center"> 1989

Ohio Variable Funds

style="TEXT-ALIGN: right"> $3,929.9

style="TEXT-ALIGN: right"> 771,030

style="TEXT-ALIGN: center"> 2000

Oklahoma

style="TEXT-ALIGN: right"> $262.0

style="TEXT-ALIGN: right"> 33,467

style="TEXT-ALIGN: center"> April 2000

Oregon

style="TEXT-ALIGN: right"> $769.6

style="TEXT-ALIGN: right"> 117,007

style="TEXT-ALIGN: center"> January 2001

PA Guaranteed Savings Plan

style="TEXT-ALIGN: right"> $1,005.0

style="TEXT-ALIGN: right"> 133,409

style="TEXT-ALIGN: center"> 1993

Pennsylvania Investment Plan

style="TEXT-ALIGN: right"> $475.1

style="TEXT-ALIGN: right"> 54,736

style="TEXT-ALIGN: center"> July 2002

Rhode Island

style="TEXT-ALIGN: right"> $5,950.0

style="TEXT-ALIGN: right"> 424,496

style="TEXT-ALIGN: center"> September 1998

South Carolina Prepaid

style="TEXT-ALIGN: right"> $114.0

style="TEXT-ALIGN: right"> 7,325

style="TEXT-ALIGN: center"> September 1998

South Carolina Savings

style="TEXT-ALIGN: right"> $836.4

style="TEXT-ALIGN: right"> 86,127

style="TEXT-ALIGN: center"> March 2002

South Dakota**

style="TEXT-ALIGN: right"> $566.9

style="TEXT-ALIGN: right"> 51,121

style="TEXT-ALIGN: center"> May 2002

Tennessee Prepaid

style="TEXT-ALIGN: right"> $75.5

style="TEXT-ALIGN: right"> 8,890

style="TEXT-ALIGN: center"> 1997

Texas Guaranteed Tuition Plan (Prepaid)

style="TEXT-ALIGN: right"> $1,389.6

style="TEXT-ALIGN: right"> 152,676

style="TEXT-ALIGN: center"> 2000

Texas Tuition Promise Fund (Prepaid)

style="TEXT-ALIGN: right"> $5.8

style="TEXT-ALIGN: right"> 3,829

style="TEXT-ALIGN: center"> 1996

Texas Savings

style="TEXT-ALIGN: right"> $172.8

style="TEXT-ALIGN: right"> 31,746

style="TEXT-ALIGN: center"> September 2002

Utah

style="TEXT-ALIGN: right"> $2,161.5

style="TEXT-ALIGN: right"> 135,448

style="TEXT-ALIGN: center"> 1996

Vermont

style="TEXT-ALIGN: right"> $83.1

style="TEXT-ALIGN: right"> 9,053

style="TEXT-ALIGN: center"> December 1999

Virginia Prepaid

style="TEXT-ALIGN: right"> $1,205.7

style="TEXT-ALIGN: right"> 94,333

style="TEXT-ALIGN: center"> 1996

Virginia Savings

style="TEXT-ALIGN: right"> $19,826.5

style="TEXT-ALIGN: right"> 1,888,866

style="TEXT-ALIGN: center"> December 1999

Washington Prepaid

style="TEXT-ALIGN: right"> $831.6

style="TEXT-ALIGN: right"> 91,004

style="TEXT-ALIGN: center"> 1998

West Virginia Prepaid

style="TEXT-ALIGN: right"> $69.8

style="TEXT-ALIGN: right"> 9,737

style="TEXT-ALIGN: center"> October 1998

West Virginia Savings

style="TEXT-ALIGN: right"> $839.2

style="TEXT-ALIGN: right"> 103,895

style="TEXT-ALIGN: center"> February 2002

Wisconsin

style="TEXT-ALIGN: right"> $1,742.8

style="TEXT-ALIGN: right"> 244,946

style="TEXT-ALIGN: center"> 1997

Wyoming

style="TEXT-ALIGN: center"> Has partnered with Colorado to offer CollegeInvest Wyoming

  

Total

style="TEXT-ALIGN: right"> $104,937.5

style="TEXT-ALIGN: right"> 11,175,462

  

* "Accounts" is unduplicated beneficiaries where possible; number of accounts otherwise.
** "Data current as of 10/31/08.
Source: College Savings Plans Network via Investment Company Institutie

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