Nebraska State Treasurer Encourages Holiday Gifting with NEST 529 Contributions

LINCOLN, Neb. – This holiday season, Nebraska State Treasurer Tom Briese reminds families to think beyond traditional gifts and contribute to a loved one’s NEST 529 Education Savings Plan. Contributing to a NEST 529 account offers the opportunity to invest in a child’s future educational success.

“As we approach the holiday season, many people are looking for meaningful gift ideas,” Briese said. “A NEST 529 contribution is a thoughtful and lasting investment in a child’s education that can have lifelong benefits, both for the student and the family.”

Account owners can invite friends and family members to contribute to a NEST 529 account. To get started, visit NEST529.com/Friends-Family-Gifting. When a contribution has been made, the gift-giver can order or print a NEST 529 holiday gift card for the recipient.

As 2024 comes to an end, account owners are encouraged to consider the tax advantages of

end-of-year contributions to their NEST 529 account. Nebraska account owners are eligible to receive a Nebraska state income tax deduction of up to $10,000 ($5,000 if married, filing separately) for contributions made to their own NEST accounts.[1]

“There’s no better time than now to start planning for a loved one’s future,” Briese said. “Year-end contributions not only help grow savings for future education costs, but also offer tax advantages for account owners.”

Contributions must be postmarked by December 31, 2024 to qualify for 2024 tax benefits. Account owners can also contribute online by logging into their account at NEST529.com.

Visit NEST529.com/Tax-Benefits to read more about the benefits of a NEST 529 Education Savings Plan.

The Nebraska State Treasurer serves as the Program Trustee. All investments, including the portfolio structure offered through the NEST 529 program, are vetted and approved by the Nebraska Investment Council.

NEST 529 is a tax-advantaged 529 education savings plan and provides four plans to help make saving for college simple and affordable: NEST Direct College Savings Plan, NEST Advisor College Savings Plan, Bloomwell 529 Education Savings Plan, and State Farm 529 Savings Plan. The Nebraska State Treasurer serves as Program Trustee. Union Bank and Trust Company serves as Program Manager, and all investments are approved by the Nebraska Investment Council. Families nationwide are saving for college using Nebraska’s 529 Education Savings Plans, which have close to 300,000 accounts. Visit NEST529.com and treasurer.nebraska.gov for more information.