Kentucky Education Savings Plan Trust (KESPT)

KESPT is an easy and affordable savings program to better prepare for funding future college education expenses — tuition, fees, books, room, board, and supplies. Account owners under the Trust can contribute to an account on be-half of a designated beneficiary. Earnings on any distributions used to pay for a beneficiary’s qualified college expenses will be free from federal income tax or penalty beginning January 1, 2002. If withdrawals are used to pay for qualified higher education expenses, the earnings will be taxed at the federal level at the beneficiary’s rate which is usually lower that of the account owner and will be exempt from Kentucky income tax. Distributions can be used to pay for qualified education expenses at eligible schools in Kentucky or anywhere in the United States, as well as certain schools abroad. You can get started with just $15 per Account per pay period through payroll deduction.

For more information call toll free 877-KY-TRUST (598-7878) or visit www.kentuckytrust.org on the Web. A limited number of enrollment packets are available through your Benefits Office.

Benefits Home

Last update: 8/26/2004 6:56:16 PM