Treasurer Stacy Garrity: More than $1 Billion Saved During Record-Breaking Year for Treasury Programs

Harrisburg, PA - Treasurer Stacy Garrity is celebrating a record-breaking year for the Pennsylvania Treasury Department's PA 529 College and Career Savings Program and the PA ABLE (Achieving a Better Life Experience) Program. Across both programs, more than $1 billion was saved for future education and disability expenses in 2025.

"The record growth of both the PA 529 and PA ABLE programs shows that Pennsylvanians are committed to investing in themselves or their loved ones. Treasury's team continues to connect with people in every corner of the Commonwealth to make sure everyone knows how Treasury's programs can help them achieve their financial goals."

During 2025, the PA 529 program saw records for both total enrollments and total contributions with 32,349 new accounts opened, and more than $960 million in contributions. Within PA 529, the PA 529 Investment Plan (IP) saw record enrollments of 22,157 and record contributions of $726.4 million.

PA ABLE also saw record account openings with 2,981 new accounts and record contributions of $48.5 million.

PA 529 accounts are designed to help Pennsylvania families steadily and strategically save for a wide variety of qualifying educational expenses, including those for technical schools, colleges and universities, K-12 education, and certain apprenticeships and credential programs. There are two PA 529 plans to choose from, the Morningstar Gold-Rated PA 529 IP and the PA 529 Guaranteed Savings Plan (GSP).

Saving with either PA 529 plan provides state and federal tax benefits, including tax-free growth and tax-free qualified withdrawals. Additionally, Pennsylvanians can deduct PA 529 contributions annually on their state income taxes. PA 529 accounts are not subject to state inheritance tax and do not impact eligibility for state financial aid.

There are more than 330,000 PA 529 accounts with over $9 billion saved for future education expenses.

PA ABLE is a savings program for Pennsylvanians with disabilities. Saving with PA ABLE does not impact important benefits like Supplemental Security Income (SSI). Earnings grow tax-free and withdrawals are exempt from state and federal taxes.

Savings in PA ABLE accounts can be used to pay for a wide variety of disability-related expenses, including rent, groceries, healthcare, assistive technology, vehicle modifications and much more.

PA ABLE is the fifth largest ABLE program in the nation, with more than 11,900 accounts and over $190 million in assets. Beginning in January, PA ABLE expanded program eligibility to those with disabilities onset prior to the age of 46 (previously 26).

Treasurer Garrity has reduced fees for PA 529 and PA ABLE account owners multiple times, saving families more than $22 million since taking office.

To learn more about these and other programs offered by Treasury, visit patreasury.gov/consumer.

Media contacts:
Steven Chizmar, Deputy Treasurer for Communications, 717-678-0855 or [email protected]
Jake S. Sarwar, Deputy Press Secretary, 717-727-4548 or [email protected]