|By PR Newswire
|August 7, 2014 09:25 PM EDT
NEW HAVEN, Conn., Aug. 7, 2014 /PRNewswire/ -- Governor Dannel P. Malloy, together with State Treasurer Denise L. Nappier, visited the Friends Center for Children today to announce the launch of the CHET Baby Scholars program, which will help Connecticut families start saving for college as soon as their children are born.
Governor Malloy introduced legislation establishing the CHET Baby Scholars Trust as a fund within the Office of the State Treasurer to encourage savings for newly-born and adopted children.
"Studies have shown that children with a college savings account, of any amount, are seven times more likely to attend and graduate from college than those with no account," said Governor Malloy. "By encouraging hardworking families to save for college right from the start, this program – in addition to investments in the Connecticut State College and University System – will help us build a future where all of our students have access to high-quality educational opportunities."
"The birth or adoption of a child is a joyous time, filled with promise. There's nothing like new life to give us hope for the future. What better way to start your child on the path to future success than to start saving for his or her college education at the very start of their life's journey," said Treasurer Nappier. "The CHET Baby Scholars program has the potential to influence lifelong savings behavior and help families and children alike understand the importance of owning assets."
CHET Baby Scholars will deposit $100 into a CHET account for children born or adopted on or after January 1, 2014. A second deposit of $150 will be made if family and friends add at least $150 to the child's enrolled CHET account within four years. The deadline to open an account and submit an enrollment form is no more than 12 months after the child's birth or adoption.
The legislation establishing CHET Baby Scholars adds the option for Connecticut taxpayers to direct a portion of their tax refund either to the CHET Baby Scholars fund or to individual CHET accounts set up for their children or other beneficiaries.
The new initiative also excludes the value of a CHET account in determining financial aid at state colleges and universities, and from consideration of other state-funded, means-tested programs. These exclusions will ensure that families struggling to make ends meet while saving for a child's educational future won't be unfairly penalized.
Parents can apply to open a CHET account and complete an enrollment form at www.aboutchet.com.
The CHET 529 college savings plan, of which Treasurer Nappier is Trustee, is managed by TIAA-CREF Tuition Financing, Inc. and The Hartford. It was established in 1997, and has grown to more than $2.2 billion in assets and more than 100,000 accounts. More than $815 million in qualified withdrawals have been taken to cover college costs for approximately 25,700 students.
The State of Connecticut offers CHET to help families save for future college costs. Funds deposited into a CHET account have tax advantages and can be used at accredited colleges and universities across the country, including vocational and technical schools, and some colleges abroad.
Connecticut residents are allowed to deduct 529 contributions from their state income taxes -- up to $5,000 for an individual or up to $10,000 for a married couple filing jointly. As with all 529 plans, investment earnings are exempt from state and federal taxes if used for qualified educational expenses.
CHET is an investment vehicle, not merely a savings plan. It offers investment options, allowing participants to select an option or combination of options that best fit their higher education saving needs and investment philosophy. Options vary depending on the age of the beneficiary and the participant's tolerance for risk.
For more information about CHET, visit www.aboutchet.com or call the customer service center at (866) 314-3939. Find us on Facebook (facebook.com/CHETcollegesavings) or follow us on Twitter (@CHET529).
Contact: Samaia Hernandez
Office of Governor Dannel P. Malloy
Contact: David Barrett
Office of State Treasurer Denise L. Nappier
"Desktop as a Service is emerging as a very big trend. One of the big influencers of this – for Esri – is that we have a large user base that uses virtualization and they are looking at Desktop as a Service right now," explained John Meza, Product Engineer at Esri, in this SYS-CON.tv interview at Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Jun. 3, 2015 08:00 PM EDT Reads: 4,576
The WebRTC Meetup, where WebRTC enthusiasts exchange ideas, is being held on Wednesday, June 10, from 7 pm – 9 pm at the 4th WebRTC Summit, June 9-11, 2015, at the Javits Center in New York City, NY. The WebRTC Meetup is being hosted by the New York WebRTC Developer Group.
WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web communications world.
The 4th WebRTC Summit continues our tradition of delivering the late...
Jun. 3, 2015 08:00 PM EDT Reads: 747
IBM has acquired Blue Box Group, Inc., a managed private cloud provider built on OpenStack. Customers benefit from the ability to more easily deploy workloads across hybrid cloud environments. Financial details were not disclosed.
Enterprises are seeking ways to embrace all types of cloud to address a wide range of workloads. Today's announcement reinforces IBM's commitment to deliver flexible cloud computing models that make it easier for customers to move to data and applications across cloud...
Jun. 3, 2015 08:00 PM EDT Reads: 701
The only place to be Nov 3-5 is Cloud Expo | @ThingsExpo | DevOps Summit 2015 West at the Santa Clara Convention Center in Santa Clara, CA. Join us there as delegates from all over the world come to listen to and engage with speakers & sponsors from the leading Cloud Computing, IoT, Big Data and DevOps companies.
Cloud Expo & @ThingsExpo are the leading events covering the booming market of Cloud Computing, IoT & Big Data for the enterprise. Speakers from all over the world will be hand-picked...
Jun. 3, 2015 07:45 PM EDT Reads: 1,834
"Matrix is an ambitious open standard and implementation that's set up to break down the fragmentation problems that exist in IP messaging and VoIP communication," explained John Woolf, Technical Evangelist at Matrix, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Jun. 3, 2015 07:00 PM EDT Reads: 4,506
Health care systems across the globe are under enormous strain, as facilities reach capacity and costs continue to rise. M2M and the Internet of Things have the potential to transform the industry through connected health solutions that can make care more efficient while reducing costs. In fact, Vodafone's annual M2M Barometer Report forecasts M2M applications rising to 57 percent in health care and life sciences by 2016. Lively is one of Vodafone's health care partners, whose solutions enable o...
Jun. 3, 2015 06:30 PM EDT Reads: 3,048
"People are a lot more knowledgeable about APIs now. There are two types of people who work with APIs - IT people who want to use APIs for something internal and the product managers who want to do something outside APIs for people to connect to them," explained Roberto Medrano, Executive Vice President at SOA Software, in this SYS-CON.tv interview at Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Jun. 3, 2015 06:15 PM EDT Reads: 4,679
"SAP had made a big transition into the cloud as we believe it has significant value for our customers, drives innovation and is easy to consume. When you look at the SAP portfolio, SAP HANA is the underlying platform and it powers all of our platforms and all of our analytics," explained Thorsten Leiduck, VP ISVs & Digital Commerce at SAP, in this SYS-CON.tv interview at 15th Cloud Expo, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Jun. 3, 2015 06:00 PM EDT Reads: 4,344
ProfitBricks has an early preview of its new Docker hosting platform. The ProfitBricks Docker platform enables its customers to build fully-portable applications within the ProfitBricks cloud. Unlike other Docker platforms, ProfitBricks’ Docker provides developers and system administrators with a platform with dedicated resources that autoscales the Docker hosts. Early access customers will be able to utilize up to 2,500 CPU core hours as part of ProfitBricks’ early access Docker preview.
Jun. 3, 2015 06:00 PM EDT Reads: 677
“The year of the cloud – we have no idea when it's really happening but we think it's happening now. For those technology providers like Zentera that are helping enterprises move to the cloud - it's been fun to watch," noted Mike Loftus, VP Product Management and Marketing at Zentera Systems, in this SYS-CON.tv interview at Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Jun. 3, 2015 05:15 PM EDT Reads: 4,276
"Blue Box has been around for 10-11 years, and last year we launched Blue Box Cloud. We like the term 'Private Cloud as a Service' because we think that embodies what we are launching as a product - it's a managed hosted private cloud," explained Giles Frith, Vice President of Customer Operations at Blue Box, in this SYS-CON.tv interview at DevOps Summit, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Jun. 3, 2015 05:00 PM EDT Reads: 4,600
It’s no news that microservices are one of the top trends, if not the top trend, in application architectures today. Take large monolithic applications which are brittle and difficult to change and break them into smaller manageable pieces to provide flexibility in deployment models, facilitating agile release and development to meet today’s rapidly shifting digital businesses. Unfortunately, with this change, application and infrastructure management is more complex due to size and technology c...
Jun. 3, 2015 05:00 PM EDT Reads: 453
We’re entering a new era of computing technology that many are calling the Internet of Things (IoT). Machine to machine, machine to infrastructure, machine to environment, the Internet of Everything, the Internet of Intelligent Things, intelligent systems – call it what you want, but it’s happening, and its potential is huge.
IoT is comprised of smart machines interacting and communicating with other machines, objects, environments and infrastructures. As a result, huge volumes of data are bein...
Jun. 3, 2015 04:30 PM EDT Reads: 1,266
In his General Session at 16th Cloud Expo, David Shacochis, host of The Hybrid IT Files podcast and Vice President at CenturyLink, will investigate three key trends of the “gigabit economy" though the story of a Fortune 500 communications company in transformation.
Narrating how multi-modal hybrid IT, service automation, and agile delivery all intersect, he will cover the role of storytelling and empathy in achieving strategic alignment between the enterprise and its information technology.
Jun. 3, 2015 04:19 PM EDT Reads: 468
There will be 150 billion connected devices by 2020. New digital businesses have already disrupted value chains across every industry. APIs are at the center of the digital business. You need to understand what assets you have that can be exposed digitally, what their digital value chain is, and how to create an effective business model around that value chain to compete in this economy. No enterprise can be complacent and not engage in the digital economy. Learn how to be the disruptor and not ...
Jun. 3, 2015 04:00 PM EDT Reads: 1,109