In the near future I will introduce a resolution designating May 29, 2026, (5/29) as "College and Career Savings Day" in Pennsylvania.

When the Pennsylvania 529 College and Career Savings Program became law as Act 11 of 1992 and was formally established in 1993, the Commonwealth recognized both the importance and the challenges of saving for postsecondary education. This includes a wide range of educational pathways, such as four‑year colleges, community colleges, technical schools, and approved apprenticeship programs. Establishing “College and Career Savings Day” on May 29 is intended to further motivate parents and families to plan for their children’s futures by promoting tax‑advantaged savings programs designed for education and career preparation, ultimately reducing the need for borrowing.

Pennsylvanians can choose between two PA 529 savings options: the PA 529 Guaranteed Savings Plan, which grows in line with college tuition inflation, or the PA 529 Investment Plan, which grows based on market performance. Both plans offer meaningful tax benefits, including a state income tax deduction for contributions, a state tax credit for employers who match contributions to their employees’ PA 529 accounts, and exemption from federal and state income taxes on investment earnings. Assets held in PA 529 accounts do not affect eligibility for Pennsylvania state financial aid and the funds can be used for tuition, fees, books, housing, and other qualified expenses at most educational institutions.

To date, more than 331,000 families are currently saving with PA 529, including almost 211,000 families who are saving with the PA 529 Investment Plan, which was awarded a Gold Rating by Morningstar for the third year in a row; one of only five 529 plans in the nation to achieve such a designation. In its rating, the financial services firm highlighted the Pennsylvania Treasury’s impressive record of effective governance, top-notch oversight, expanded outreach and accessibility. Fees associated with the program have been reduced multiple times, creating savings for families of nearly $22 million.
 
The PA 529 College and Career Savings Program has helped many Pennsylvanian parents and families in preparing financially for their children’s postsecondary education or career training and I invite you to join me in co‑sponsoring this resolution to further raise awareness of this important program.