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A Fidelity College Savings Plan, or 529 Plan, is a flexible account specifically designed for college savings. Qualified distributions from a 529 Plan account are federal income tax-free. The plan is named after Section 529 of the IRS code. Fidelity manages three state-sponsored 529 Plans, which are designed for college savings.What is the best 529 plan?
The best 529 plans: How to maximize saving for college my529 (Utah) Bright Start College Savings Program (Illinois) CollegeAdvantage (Ohio) Michigan Education Savings Program ScholarShare 529 (California)Is it possible to transfer funds from a 401k to a 529 plan?
Those two rollover options include transfer into a new 401k account with a new employer or deposit into an individual retirement account (IRA). There are no tax-deferred savings for using funds from a 401k toward furthering education or for education savings programs with tax benefits such as 529 plans.