Illinois Asset Building Group

Community Investment Awards Highlight Secure Choice & Student Loans Report (Illinois Asset Building Group)

Amy Rynell, Senior Director of Research & Policy at Heartland Alliance, accepted Woodstock Institute’s Community Investment Award, stating:

"Without access to easy, convenient tools to build retirement savings more people will experience a reduced quality of life in retirement, putting many at risk of poverty – straining families, communities and the state. Secure Choice will provide many of these workers with the opportunity to save and have a more stable future."

College Savings Plans Should be Expanded, Not Taxed

College prices are rising, pushing potential parental contributions to the extreme and requiring students to take on more student debt. To address this, millions of parents have been putting money away for their children’s education in 529 college savings plans. These plans allow parents to put money into an account that grows tax-free. Money withdrawn from these accounts for qualified educational purposes is also not subject to taxes. The 529 college savings works by encouraging parents to save so their children can attend college without taking on excessive student debt.

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