South Florida Arbitration & Litigation Lawyer Blog
MSRB’S EMMA WEBSITE SPOTLIGHTS 529 COLLEGE SAVINGS PLAN INFORMATION
September, 2012:
The Municipal Securities Rulemaking Board (MSRB) recently announced that it is making it easier for families saving for future higher education expenses to find information about 529 college savings plans.
The MSRB’s Electronic Municipal Market Access (EMMA®) website provides access to information about 529 college savings plans, including plan disclosure documents submitted to EMMA describing the plan’s investment options, fees and expenses, and any state tax benefits. Beginning September 7, 2012, a new interactive map accessible from EMMA’s home page, allows parents and others interested in learning about 529 college savings plans to more quickly and easily access this information by state.
“The MSRB encourages families to visit the EMMA website if they currently participate or are interested in participating in a 529 college savings plan to help finance their children’s higher education,” said MSRB Executive Director Lynnette Kelly. “The plan disclosure documents and other relevant documents available on EMMA help families understand the risks and benefits of particular 529 college savings plans.”
The MSRB’s EMMA website serves as a centralized venue for the submission of 529 plan disclosure documents by investment firms that distribute the plans. The brokers, dealers and municipal securities dealers that market 529 college savings plans are subject to MSRB rules.
The MSRB recently requested comment on a proposal to collect additional information about 529 college savings plans from dealers that act as 529 college savings plan distributors. The MSRB would analyze the information to gain a better understanding of the size, growth, characteristics and risks of the 529 plan market and of specific plans.