A baby born at INTEGRIS Baptist Medical Center on April 15 is awarded $1,529 toward an Oklahoma 529 College Savings Plan account
An Oklahoma City family has two great reasons to celebrate on Tax Day, a day that many Americans don’t look forward to. Sonny and Cecilia welcomed the birth of their son, Michael, on Monday morning. Hours after the birth, Michael already has a plan to begin saving for college.
As part of the Oklahoma 529 College Savings Plan’s fifth annual Tax Day Baby event, a baby born at INTEGRIS Baptist Medical Center on April 15, the deadline to file federal income taxes, was declared the Tax Day Baby. The family welcomed Baby Michael to the world at 10 a.m., making him the beneficiary of $1,529 toward an Oklahoma 529 College Savings Plan (OCSP) account.
Oklahoma State Treasurer Randy McDaniel congratulates the family on the birth of their new baby, and for now having a college savings plan.
“The birth of a child is a very special day,” said McDaniel, board chair for OCSP. “Starting to save for college when children are young is ideal because accounts have many years to grow. Contributions made to an Oklahoma 529 College Savings Plan account qualify for deduction on your state income taxes. It’s a great way to save for college and receive tax savings.”
The family is already ahead of most families in the United States. In 2017, only 20 percent of parents between the ages of 30-59 reported they were saving for their children’s college education.
“We are so excited,” said Cecilia, the baby’s mother. “He certainly is a lucky baby to have a jump start on saving for his college education. Now we just need to do the same for our other three children.”
For more information about the Oklahoma 529 College Savings Plan or to open an account, go to www.ok4saving.org or call (877) 654-7284. Funding for OCSP prizes comes from the marketing budget of the Oklahoma 529 College Savings Plan; no state funds are used.
