PA 529 GSP 2018-2019 Rates

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bmisiura
Posts: 1
Joined: Fri Jan 13, 2017 3:27 pm

PA 529 GSP 2018-2019 Rates

Post by bmisiura » Tue Aug 21, 2018 12:23 pm

I've been investing a portion of my children's college savings in the PA529 Guaranteed Savings Plan (GSP) for the past few years. The most recent GSP credit rates were released for the next school year (rates turn over on September 1st I believe).

The 2018-2019 credit rate for the plan I've been contributing to (12999 - State Related Universities - PA Resident) appears to be lower than the current 2017-2018 credit rate:

2018-2019: $704.23
2017-2018: $720.10
2016-2017: $703.14

Typically in the past it seemed you would want to get your contribution in before the August 31 deadline and the rates increase (had been the case the previous few years). However, am I correct in believing that isn't the case this year based on the rate schedule and I should instead wait until the rates turn over in September to make my contribution?

Jablean
Posts: 250
Joined: Sat Jun 02, 2018 2:38 pm

Re: PA 529 GSP 2018-2019 Rates

Post by Jablean » Tue Aug 21, 2018 7:32 pm

Looks like there is a premium that was removed - https://www.pa529.com/pdf/2017-18-Rate- ... emiums.pdf but not reflected in the published 2017-2018 schedules (read header and footnotes) Since that would make the actual 17-18 rate less it looks like the real trend is the same. I'd say there will be no difference just do it when you usually do it.

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