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State’s college savings program (iDeal) reports growth, employer incentives and new Roth rollover option
Summary
Dawn Hall, executive director of the Idaho College Savings Program (iDeal), told the House Education Committee the program saw account growth in 2024, highlighted employer payroll-direct options and a 2024 Roth-IRA rollover rule; program partners include Vanguard and Sallie Mae.
Dawn Hall, executive director of the Idaho College Savings Program (branded iDeal in program materials), updated the House Education Committee on enrollment growth, program features and recent policy changes affecting 529 savings accounts.
Hall described the program as a tax-advantaged education savings vehicle and said Idaho’s plan is governed by a state board. "An easy way to think of it is it's like a Roth IRA retirement savings account, but for education," Hall told the committee, summarizing features and investment options.
Hall said the program is authorized in state statute (Title 33, Chapter 54 was cited during the presentation) and that the federal tax code for qualified tuition programs is Section 529. She described five core advantages: easy online enrollment, flexibility in qualified uses (K–12 tuition,…
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