Illinois State Treasurer Frerichs Pushes for Law Allowing Leftover College Savings Funds to Be Used for Retirement Savings
March 27, 2024
March 27, 2024
CHICAGO, Illinois, March 27 -- The Illinois State Treasurer issued the following news release on March 26, 2024:
Illinois Treasurer Michael Frerichs today urged state lawmakers to approve a bill that would allow parents who don't use all the money in their Illinois 529 College Savings Accounts (Bright Start and Bright Directions) to roll over the funds into a Roth IRA.
"One of the most common questions we get is what can you do with the Bright Start money you have . . .
Illinois Treasurer Michael Frerichs today urged state lawmakers to approve a bill that would allow parents who don't use all the money in their Illinois 529 College Savings Accounts (Bright Start and Bright Directions) to roll over the funds into a Roth IRA.
"One of the most common questions we get is what can you do with the Bright Start money you have . . .