529 ASSETS REACH $43 BILLION: Assets in 529 college savings plans totaled an estimated $43 billion at the end of the second quarter, up 7.4 percent over assets in the first quarter, according to a report from the College Savings Foundation. The quarterly asset total marks a 66.9 percent increase from the second quarter of 2003's total of $25.8 billion, according to data developed by research and consulting firm Financial Research Corp.

FRC said that estimated net new contributions to 529 savings plans for the second quarter were $2.9 billion, compared with $4.1 billion in the first quarter and $2.4 billion in the second quarter of 2003. For the first half of 2004, net sales of $7.0 billion were up 45.8 percent, compared with net sales of $4.8 billion in the first half of 2003.

Register or login for access to this item and much more

All Accounting Today content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access