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Out of concern for our community, FAME has moved to virtual business operations. Our office building is closed. We are committed to continuing to serve Maine families and businesses through this difficult time. NextGen account owners are encouraged to contact Merrill Edge at 877-463-9843 or, if applicable, your financial advisor. Maine Distribution Agents are encouraged to contact College Plan Services at 888-264-9077.
To contact a FAME Team member,
We will continue to follow the advice of the Maine CDC and will keep you updated regarding our operations. We appreciate your understanding and patience during this difficult time. Please stay safe. We encourage you to visit the Maine CDC website to learn more about appropriate prevention measures.
NextGen 529 is Maine’s Section 529 plan which many families use to save for higher education. Any earnings in a Section 529 plan are tax-free, when used to pay for qualified higher education expenses*. It’s never too early to start planning ahead for future education expenses, and opening a NextGen 529 account now can make a big difference later.
NextGen 529 offers a variety of investment options in two separate series – the Client Direct Series and the Client Select Series.
Each series offers different investment options, each with its own sales charges, fees and expense structure. Some of the same investment options are available in each series.
Please remember: There’s always the potential of losing money when you invest in securities.
* To be eligible for favorable tax treatment afforded to any earnings portion of withdrawals from Section 529 accounts, such withdrawals must be used for qualified higher education expenses, as defined in Section 529 of the Internal Revenue Code. Any earnings withdrawn that are not used for qualified higher education expenses are subject to federal income tax and may be subject to a 10% additional federal tax as well as state and local income taxes. State tax treatment of distributions for certain qualified higher education expenses may differ. Please consult your tax advisor for specific advice regarding such distributions.