Roll funds into Bright Start

Rollover an out-of-state 529 Plan into Bright Start

Rolling an out-of-state 529 plan into Bright Start is an easy process that can provide significant benefits. As you look into the potential for a rollover, be sure to review the considerations and benefits with your tax and financial advisors.

Three Great Benefits of Rolling Over to Bright Start:

  1. The State of Illinois offers an income tax deduction of up to $10,000 ($20,000 if filing jointly) for contributions to Bright Start. The Illinois Administrative Code provides that in the case of a rollover from a non-Illinois qualified tuition program, the amount of the rollover that is treated as a return of the original contribution to the prior qualified tuition program (but not the earnings portion of the rollover) is eligible for the deduction for Illinois individual income tax purposes.

  2. The program offers access to quality fund families including Vanguard, T. Rowe Price, DFA, Dodge & Cox, and others.

  3. You receive the benefits that earned Bright Start an elite Gold rating from Morningstar. Solid investments, quality fund families, diverse investment options, low costs, no account fees, and more.

Three Easy Steps to Completing a Rollover:

  1. Review your existing out-of-state 529 plan and make sure Bright start is right for you. Review any fees or charges the out-of-state 529 plan may impose.

  2. If you don’t have a Bright Start account, open an account.

  3. Complete the Rollover Form.
    1. Obtain a Medallion Signature Guarantee on the form.
    2. Attach a copy of the latest statement from your out-of-state 529 plan.
    3. Mail the form to Bright Start, and let us handle the rest.
Rollover Form