Holders of 14.3 million 529 education saving accounts had a total of $437 billion invested in their plans in the quarter ended June 30, an increase of 6.1% from the $412 billion invested in the first quarter, according to a report by ISS Market Intelligence.
Inflows to all accounts totaled $4.7 billion during the second quarter, up from $3.7 billion in the previous quarter.
The report also noted that $878 million was invested in 100,874 ABLE accounts. Also known as 529A accounts, these allow individuals with disabilities and their families to make tax-advantages contributions to save money for the disability-related expenses of the account's designated beneficiary.
“The White House has extremely strict ethical guidelines with respect to issues like this,” said Press Secretary Karoline Leavitt.
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