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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 Any earnings withdrawn that are not used for qualified higher education expenses are subject to federal income tax and may be subject to a 10% additional federal tax as well as state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.