Retirement Eligible: College Savings Funds Now Flexible for Future Use
NEW YORK (AP) — Families looking to save for their children’s college education now have a new option — using those funds for retirement instead. As of February 16, a provision in the federal budget law allows individuals to roll over funds from a 529 college savings account into a Roth individual retirement account, or Roth IRA. This means that after-tax money contributed to a 529 account can grow and be withdrawn tax-free for retirement. …