It’s Time to Save
by Senator Ross Romero
District 7
September is National College Savings Month, and I wanted to make sure all the parents and families of future college students know about the Utah Educational Savings Plan (UESP). The importance of a college education cannot be overemphasized.
Did you know?
1. College graduates age 25 and over earn nearly twice as much as workers who only have a high school diploma.
2. Earnings from 529 plans are not taxed when used to pay for eligible college expenses.
3. Utah taxpayers receive a 5% tax credit on contributions up to $1,650 per beneficiary, equaling $82.50. If filing jointly, the 5% credit is applied to contributions up to $3,300 per beneficiary, equaling $165. The UESP 529 account must be established before the beneficiary’s 19th birthday to qualify for the credit.
4. No minimum investment is required to open or maintain a Utah Educational Savings Plan college savings account.
Did you know the UESP has been nationally recognized for its management?
“You will typically find the lowest costs among direct-sold 529s, such as Utah’s Educational Savings Plan, with expenses of 0.38% or less.”
Money Magazine
August 2007
“The Utah Educational Savings Plan, which is run by the state, remains a top choice due to a diverse lineup of portfolios and low annual expenses, which mostly range from 0.25% to 0.38% across its portfolios.”
Wall Street Journal
March 1, 2007
While I have provided examples from UESP’s program, there are many other 529 plans which you may want to consider. I personally have opened a UESP account for my son. I know how much my university experience and education have meant for me (including meeting my wife), and I wanted to make sure he also has those same opportunities.
If you would like more information about saving for college, please review www.collegesavings.org/didYouKnows.aspx.
If you would like more information about USEP or would like to open an account, please visit www.uesp.org.




Tonight the American Diabetes Association, through its Utah Chapter, will recognize and honor Senator Ed Mayne as a 2008 Father of the Year. While I did not know Senator Mayne as well as many (having served only 2 years with him in the Senate), I was deeply touched by his family’s openness and love which was evident during the funeral services. It was during these services I came to learn more about Senator Mayne, the husband and father. My respect and admiration for Senator Mayne, the father, grew as I heard from his children during the services as I saw how much they cared for him as a father and how well he had helped guide them to where they are. Similarly, having had the opportunity to serve with Senator Karen Mayne, I have come to see and hear in her the strength and support laid by the foundation and service of the late Senator Mayne. It is therefore truly befitting that the American Diabetes Association is recognizing Senator Mayne as a Father of the Year.



