Treasury Announces Bonus for Families’ Education Savings

Pennsylvania families with qualified PA 529 College and Career Saving Program Guaranteed Savings Plan (GSP) accounts could receive a $1,000 bonus contribution, enhancing education savings for about 107,000 Pennsylvania families.

The bonus is being paid for through surplus dollars in the GSP Fund. As of June 30, the GSP fund was 156.04% funded, reflecting a surplus of $1.06 billion. Nearly 107 million in surplus funds will be distributed across 106,914 PA 529 GSP accounts, representing 89% of participants in the plan.

PA 529 GSP savers with at least a $1,000 account balance, or those with at least a $100 balance with contributions made since 2022, as of July 31, are eligible for this bonus deposit. Account owners will see this deposit reflected in their third-quarter statement.