Treasurer Stacy Garrity: Children of Pittsburgh Firefighters Get a Big Boost with PA 529 Education Deposits from BlackRock Foundation

Harrisburg, PA - Pennsylvania Treasurer Stacy Garrity today celebrated a big investment in the future of Pittsburgh-area children by The BlackRock Foundation. The BlackRock Foundation collaborated with the Pennsylvania Treasury Department's PA 529 College and Career Savings Program (PA 529) to invest $586,000 for the education savings of 586 children of Pittsburgh Firefighters.

"Thanks to the generosity of The BlackRock Foundation, I'm thrilled that hundreds of children of our brave Pittsburgh firefighters have this great jumpstart to their education savings.Investing in our children's future with PA 529 is an incredible way to let them know their future is bright no matter what career path they choose - from community college, four-year universities, technical training, apprenticeships and credential programs - PA 529 can help them meet their goals."

The BlackRock Foundation partnered with the Pittsburgh Foundation to fund the PA 529 accounts for children of Pittsburgh Fire Fighters with $1,000 deposits. The gift was a catalyst to help more families open PA 529 accounts, and to make sure that those born in 2019 or later also claimed their $100 scholarship from Treasury's Keystone Scholars program. Families can claim their $100 and link it to their PA 529 account at pa529.com/keystone.

"This investment is more than just financial support-it's a commitment to the families who stand behind our firefighters every day. We are deeply grateful to Treasurer Stacy Garrity, The BlackRock Foundation, and the Pennsylvania Treasury for recognizing that when you support our children, you strengthen our entire community."

"Firefighters serve their communities with extraordinary dedication, and this investment is one way we can support their families and help their children build strong financial foundations for the future."

This grant builds on BlackRock's longstanding support of early wealth building initiatives and the firm's belief in the power of capital markets to advance financial wellbeing. As BlackRock Chairman and CEO Larry Fink wrote in his annual Chairman's Letter, early wealth-building accounts can make it more likely for someone to earn an advanced degree, start a business and own a home. Last year, BlackRock announced it will match the U.S. government's $1,000 contribution for eligible U.S. employees' Trump Accounts.

PA 529 accounts allow families to steadily and strategically save in a tax-advantaged account for qualifying educational expenses no matter what career path a child may take. Saving with PA 529 does not impact a student's eligibility for PA state financial aid.

There are two PA 529 plans to choose from. The PA 529 Guaranteed Savings Plan (GSP) allows families to save at today's tuition rates to meet tomorrow's tuition costs with earnings determined by college tuition inflation. The Morningstar Gold-Rated PA 529 Investment Plan (IP) offers investment options with returns based on financial market performance. Both plans can be used to pay for a wide variety of qualified education expenses including tuition, fees, books, room and board and more.

There are more than 335,000 PA 529 accounts open with more than $9 billion saved for future education expenses. Families can learn more about how to start saving with a PA 529 account at pa529.com.