Philadelphia Union announce partnership extension with PA 529 college savings plan
Philadelphia Union has reached an agreement to extend its partnership with the Pennsylvania 529 College Savings Program, the club announced today. Administered by the Pennsylvania Treasury Department, the PA 529 is the official tax-smart college savings plan of the Philadelphia Union, PPL Park and Eastern Pennsylvania Youth Soccer (EPYS).
“We are very proud to extend our partnership with such an outstanding program,” said Philadelphia Union CEO & operating partner Nick Sakiewicz. “PA 529 shares our commitment to providing our youth with the best opportunities possible and we look forward to our continued relationship with them.”
The agreement extends the partnership between the Union and PA529 by two years, which will see it run until 2015. The program will continue community efforts held both at the stadium and throughout the area in addition to staying involved in Philadelphia Union and EPYS soccer camps.
“We are proud to partner once again with the Philadelphia Union," said state treasurer Rob McCord. "The Philadelphia Union very much shares our beliefs that one cannot realize his or her fullest potential without an education – particularly some form of higher education. Their work to help Pennsylvania children reach their potential is admirable, and they are making great strides. “We are pleased to partner with the Union to serve the communities we all cherish and to help our neighbors enjoy happy, healthy, and economically secure lives.”
Last year’s efforts helped educate tens of thousands of Pennsylvania families about the importance of saving for college through joint marketing efforts with EPYS, in-stadium communication, and additional outreach tactics.
The personal endorsement from Philadelphia Union team manager John Hackworth (seen above) will be shown on the PPL Park video board during all Union home matches in 2014. Additionally, as part of the renewed partnership, those who open a new PA 529 savings plan will receive a free Philadelphia Union Junior Supporters Spirit Membership.
The PA 529 provides two ways to save: the PA 529 GSP and the PA 529 IP. Both plans provide flexibility to pay for college expenses at most higher education institutions across the country. The primary difference between the two plans is the way savings grow.
The PA 529 GSP is designed to help savings grow to meet the future cost of education. When used for qualified higher education expenses, PA 529 GSP contributions grow based on tuition inflation (subject to fees and premiums). For example, someone who saves enough for one semester today at a State System of Higher Education university will have enough for one semester there in the future, no matter when or how much tuition has increased in the meantime.
The second plan, the PA 529 IP, features low fees and more than a dozen conservative and aggressive investment options from The Vanguard Group, one of the nation’s largest financial services companies.
To learn more, or to contribute to or open a PA 529 account, visit PA529.com or call 1-800-440-4000.