Bill Text: SC S0836 | 2015-2016 | 121st General Assembly | Introduced
Bill Title: 529 Day
Spectrum: Bipartisan Bill
Status: (Passed) 2015-05-27 - Introduced and adopted [S0836 Detail]
Download: South_Carolina-2015-S0836-Introduced.html
A SENATE RESOLUTION
TO DECLARE FRIDAY, MAY 29, 2015, AS "529 DAY" IN THE PALMETTO STATE AND TO ENCOURAGE FAMILIES TO SAVE FOR COLLEGE WITH THE SOUTH CAROLINA FUTURE SCHOLAR 529 COLLEGE SAVINGS PLAN.
Whereas, saving for a college education is an important investment in a child's future; and
Whereas, Senator Chip Campsen authored legislation that created South Carolina's Future Scholar 529 College Savings Plan as a member of the House of Representatives in 2001. Senator Glenn Reese authored a companion bill in the Senate; and
Whereas, former Treasurer Grady Patterson created a committee to administratively establish and organize the Future Scholar 529 College Savings Plan, and to select its investment managers and advisors. Senators Campsen and Reese served on this committee and played an instrumental role in negotiating the fee structure and investment options for the plan; and
Whereas, South Carolina's Future Scholar 529 College Savings Plan has some of the lowest fees and best investment options of any 529 college savings plan in the nation; and
Whereas, South Carolina's Future Scholar 529 College Savings Plan has consequently accumulated national accolades from The Wall Street Journal, Money Magazine, and savingforcollege.com; and
Whereas, South Carolina's Future Scholar 529 College Savings Plan has 116,000 accounts enrolled and $2.3 billion in accounts under management; and
Whereas, the pursuit of a higher education results in both an enhanced quality of life for the citizens of South Carolina and an improved Palmetto State for all; and
Whereas, the South Carolina Office of State Treasurer continues to administer the Future Scholar 529 College Savings Plan established under Treasurer Patterson's administration. Now, therefore,
Be it resolved by the Senate:
That the members of the South Carolina Senate, by this resolution, declare Friday, May 29, 2015, as "529 Day" in the Palmetto State and urge all citizens to save for a college education by investing in the South Carolina Future Scholar 529 College Savings Plan.
Be it further resolved that a copy of this resolution be forwarded to a family representative of former Treasurer Grady Patterson, Senator Chip Campsen, Senator Glenn Reese, and Curtis M. Loftis, Jr., Treasurer of the State of South Carolina.
