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529s Shed 12.4% in Assets in Q408
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.
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*
| 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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