The state of Maryland has two programs designed to help families prepare for future college costs (for you and/or your dependents): the Maryland College Investment Plan and the Maryland Prepaid College Trust.
The Maryland College Investment Plan offers a choice of 14 investment portfolio options managed by T. Rowe Price through AACPS payroll deductions. You may enroll in this program at any time.
The Maryland Prepaid College Trust no longer accepts payroll deductions. There is a limited enrollment period during the first quarter of every calendar year. Contact Maryland 529 for more information.
Employees requesting more information or wishing to enroll can call 888-4MD-GRAD (888-463-4723) or visit www.maryland529.com.
You are eligible for a Maryland State Income Tax deduction of up to $2,500 per account or beneficiary, depending upon the plan.
An enrollment form for the Maryland College Investment Plan can be downloaded from the Maryland 529 website. The form should be completed and mailed to P.O. Box 17479, Baltimore, MD 21297-1479, for authorization. Once authorized, the form should be returned to HR/Benefits to begin payroll deductions.