Wisconsin through the Windshield 6/27-28
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Earlier this week I had the pleasure of returning money to people across Southeastern Wisconsin. My assistant and I returned money to people in Janesville, Orfordville, Whitewater, Delavan, Elkhorn, Burlington, Racine, and Kenosha.
The tour kicked off in Janesville, where we returned more than $22,000, including almost $5,000 to one lady, and more than $16,000 to another person who stopped by. We were joined by Representative Joe Knilans, who enjoyed helping return money to his constituents in Janesville, a community hit very hard by this recession. I also had the opportunity to meet with Rock County Treasurer Vicki Brown, who is also the President of the Wisconsin County Treasurer’s Association. I enjoy getting to meet and talk to local officials on these tours, and I have a great deal of admiration for these folks who are on the front lines of local and state government.
In Orfordville, I was joined by another local official, Beth Schmidt, a member of the village board who invited me to her community for the event. Beth introduced me to Sarah Strunz, the director of the Orfordville Library. Despite its small size, Orfordville’s library has a greater circulation than some nearby towns with 4 times the population. As a result, Orfordville needs a larger building, and the community is banding together to support the new project entirely through donations. I certainly hope they make their goal, and I admire their efforts to accomplish their objective without taxpayer dollars.
After a quick lunch at the Cake Box, a local business in Orfordville, we made productive stops across Walworth and Jefferson counties, capping Monday night with stops in Whitewater and Delavan, and starting Tuesday off in Elkhorn.
In Racine County, I stopped in both Burlington and Racine. In Racine, I was joined by County Treasurer Jane Nikolai and her Deputy, who helped me return money to folks in that community. Both Treasurer Nikolai and I had the opportunity to speak to Robert Rosati from Wisconsin Internet News. My interview can be found at this link.
The tour ended in Kenosha, where we had a large crowd. Over the course of 2 days, we were able to help over 150 people look for Unclaimed property, and ended up returning over $25,000 to Wisconsinites.
Related articles
- Wisconsin through the Windshield 2 (wistatetreasury.wordpress.com)
- Wisconsin through the Windshield 6/22/11 (wistatetreasury.wordpress.com)
- Wisconsin through the Windshield June 8-15. (wistatetreasury.wordpress.com)
- Wisconsin Through the Windshield: June 6, 2011 (wistatetreasury.wordpress.com)
- County Treasurers’ meeting (wistatetreasury.wordpress.com)
Sixth International Conference on Climate Change
I am currently in WashingtonD.C. attending the Sixth International Conference on Climate Change, an event sponsored by the Heartland Institute.
As one of three members of the Board of Commissioners of Public Lands, I am a steward of nearly 75,000 acres in the state ofWisconsin. As such, I am concerned for both the environmental and the economic health of the State ofWisconsin, and I look forward to gaining perspective this highly politicized and controversial issue.
The Conference will be exploring the use of science and economics to improve the attendees’ understanding of climate change, and will be encouraging adherence to the scientific method in making predictions related to climate.
I am attending the conference as part of a legislative outreach effort on the part of the Heartland Institute, and was awarded a travel stipend to cover expenses dealing with attendance at the conference.
The Economy and You #4 – Who are the Unemployed?
Previously, I wrote about how the unemployment rate is calculated and whether it is an accurate measure of the health of our economy. Did you know that there are a number of ways to determine how many people are “unemployed?”
In my last article, I explained that the Household Survey conducted by the Bureau of Labor Statistics places all adults into three categories: 1) employed; 2) unemployed; and 3) not in the labor force. The Bureau of Labor Statistics also calculates several measures of labor underutilization or unemployment.
The first rate (U-1) measures only those persons considered to be long-term unemployed. U-1 Is defined as persons unemployed for 15 weeks or longer, as a percent of the civilian labor force. Using data from November 2008, the U-1 rate was 2.6%. With each successive rate, additional people are included in the calculation.
For the U-2 rate, the calculation includes job losers and persons who have completed temporary jobs, as a percent of the civilian labor force, but excludes people who leave their job. The U-2 rate was 3.9%.
The official unemployment rate or U-3 is defined as the total amount of unemployed persons as determined through the household survey. The U-3 rate in November 2008 was 6.7%. This is the unemployment rate you hear or read about in the news.
The U-4 rate calculation includes the total unemployed, plus discouraged workers, as a percent of the civilian labor force plus all discouraged workers. Discouraged Workers are persons who have given a job-market related reason for not currently looking for work. The U-4 rate therefore is greater than the official unemployment rate with the addition of discouraged workers, who from the household survey would be classified as not in the workforce. The U-4 rate was 7.0%.
U-5 includes total unemployed, plus discouraged workers, plus marginally attached workers, as a percent of the civilian labor force plus all marginally attached workers. Marginally Attached Workers are persons, who currently are neither working nor looking for work, but indicate that they want and are available for a job, and have looked for work sometime in the recent past. Again this increases the total amount of people who want to work but would not be classified as unemployed from the household survey. The U-5 rate was 7.8% in November 2008.
Finally, the most inclusive unemployment rate or U-6 measures the total number of persons unemployed, plus discouraged workers, plus marginally attached workers, plus persons employed part-time for economic reasons, as a percent of the civilian labor force plus all marginally attached workers. Persons employed part-time for economic reasons are those who want and are available for full-time work but have had to settle for part-time work. These people would be considered employed even though they want and are able to work full-time. Including all of the persons who want to work increases the rate significantly to12.5%.
As you can see, economists can point to a variety of statistics when talking about unemployment and labor underutilization. Because of this, policy decisions regarding unemployment insurance, tax credits for job creation, and other labor initiatives may have little effect on the official unemployment rate, but could have a noticeable effect on the other measures of unemployment. All in all, government leaders must recognize that the official unemployment rate does not provide a complete picture of the health of our economy.
Related articles
- The Economy and You – The Unemployment Rate (wistatetreasury.wordpress.com)
- The official unemployment rate, and the hidden one (csmonitor.com)
Gold & Silver Sales Shatter eBay Auction Record
In just 5 months, out eBay auction of unclaimed property from safe deposit boxes has surpassed $110,000 and is just $87.06 away from breaking the 2010 total.
As of the May auction, the sales from the auctions hit $110,322.37. The June auction is happening right now and sales for that auction are already at $17,000 and rising. Last year’s total for 12 months was $110,409.43.
The auction, by far, is the most popular form of outreach I perform in the office. There are nearly 4000 people on the mailing list who are informed of the auction a few days before items go up and I am certain people search the database whenever they hear about an auction to look and see if there is any unclaimed property my office is holding.
Each month, I auction items being held in our vault. These items come to the Treasury from abandoned safe deposit boxes from all the banks across the State of Wisconsin. We receive these items after 5 years of inactivity and hold onto them for at least 3 more years. After trying to locate owners, the items are sol; most of the items are coins, jewelry or stamps. The money made is returned to the unclaimed property account in the owner’s name waiting for it to be claimed. The money remains in that person’s name forever and is never placed into the state’s general funds.
You can be a part of this exciting auction each month by heading to our website, www.statetreasury.wisconsin.gov and clicking on the “eBay” logo on the home page. There, you can sign up for the mailing list as well as see the items up for auction. You can also click on another link that takes you to our eBay page!
Our June auction taking place right now has some very popular gold coins as well as some jewelry lots. It will end on Friday July 1st. Click here to see what we have this month!
Southern County Tour June 27th-28th
We will be on the road in Rock, Jefferson, Walworth, Racine and Kenosha counties next Monday and Tuesday with the Unclaimed Property Database!
Treasurer Schuller’s Schedule for Monday June 27th, 2011
Hedberg Public Library/Janesville
316 South Main St.
10:00am-11:30am
Orfordville Public Library
203W. Beloit St.
12:00pm-1:00pm
Irvin L. Young Memorial Library/Whitewater
431WestCenterStreet
2:30pm-3:30pm
Aram Public Library/Delavan
404 East Walworth
4:30pm-6:00pm
Treasurer Schuller’s Schedule for Tuesday June 28th, 2011
Matheson Memorial Library/Elkhorn
101 NWisconsin
9:00am-10:00am
Burlington Public Library
166 East Jefferson St.
10:30am-12:00pm
Racine Public Library
75 7th St.
1:30pm-3:00pm
Kenosha Southwest Library
7979 -38th Ave.
4:00pm-5:30pm
Badger Girls State
Last evening, I was honored to attend the Inauguration Ceremony at Badger Girls State. Badger Girls State is one of 49 different Girls State programs held across the country. The American Legion Auxiliary is responsible for the program, and each state’s Girls State event is sponsored by the corresponding American Legion Auxiliary Department.
The American Legion Auxiliary National Convention organized the program in 1937, and Badger Girls State kicked off in 1941. With the exception of 1943-1945, the program has been going ever since. Badger Girls State teaches young women important lessons about civics, patriotism, and leadership.
Not just anybody is eligible to attend Badger Girls State. The Auxiliary and local teachers work together to select the young ladies eligible to attend the program. Attendees must have achieved Junior status in High School, must have an interest in government, must place in the top half of their class academically, must be physically fit, must participate in extracurriculars, and must be of good general character.
These young ladies wake up at 6 AM every morning of the 6 day event in order to participate in all of the sessions. By the end of the program, the girls have created a “51st state” complete with functioning city, county, and state governments. The girls partcipate in elections, and on the 5th day of the program, are inaugurated.
I was happy to join Gov. Scott Walker, Sec. of State Doug LaFollette, and Chief Justice Shirley Abrahamson (attending for her 35th straight year!) in honoring the 2011 Badger Girls State constitutional officers.
Special congratulations to Sydney Stiener, 2011 Badger Girls State State Treasurer!
June eBay Auction starts Friday June 24th at Noon!
We are just a few hours away from the June eBay Auction.
Here’s a preview of what’s for auction and here’s our eBay page. You can also sign up for an email notification for upcoming auctions. Click this link to do that!
Image via CrunchBase
We have some great gold Double Eagles for auction this month – 8 lots of the gold coins…some are un-circulated and the appraiser was thoroughly surprised at their condition. These items are abandoned property in Wisconsin Safe Deposit boxes that we hold onto for at least 8 years before selling.
Image by roberthuffstutter via Flickr
Our monthly auction is popular…you’ll never know what you might find!
Wisconsin through the Windshield 6/22/11
I had to leave home in Eden around 6 A.M. yesterday, but the opportunity to return money to people in Southwestern WI was worth the early start.
My first stop was in Platteville, where my assistant and I handled several small claims. Though the region doesn’t receive the attention of Milwaukee or Green Bay, the southwestern corner of Wisconsin is rich in history. Platteville originated as a mining town, and took advantage of the region’s wealth of lead and zinc. Mining was critically important to Wisconsin’s economy, especially in the early to mid nineteenth century. Our state’s nickname, “Badger State” is derived from the nickname given to the lead miners in Southwestern Wisconsin.
Our next stop was in another city central to Wisconsin’s early economy - Prairie du Chien. Marquette and Joliet were the first Europeans to visit the site of Wisconsin’s 2nd oldest city (in 1673), and the town wound up playing an important role in the fur trade for the next 2 centuries.
From there, we traveled to Dodgeville, home of the Governor Dodge State Park, where I often spent time camping with my family as a young boy. We found more unclaimed property owners in Dodgeville than in any other town that day, even though it was the smallest municipality we visited. That just goes to show that unclaimed property owners are all over the state, and with more than 1.8 million accounts in our database, it stands to reason that even if you are not an unclaimed property owner, someone you know probably is.
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Oconomowoc Man Finds $10,000 plus at WI State Treasury
We've posted some new stories on our YouTube page...including a story from WKOW in Madison that aired 6/21/11 about Unclaimed Property and resident who found more than $10,000 we were holding for him! Click here to visit our YouTube Page
Unclaimed Property and your public school libraries
As the State Treasurer, I sit on the Board of Commissioners of Public Lands. Along with Attorney General J.B. Van Hollen and Secretary of State Doug La Follette, we help manage loans made to municipalities and school districts that can be used for any public purpose. The money from these loans comes from trust fund assets held mainly in the Common School Fund.
The interest on Unclaimed Property that my office is holding makes up a large portion of the assets in the Common School Fund. We are currently holding a little more than $391 million in unclaimed property at the State Treasurer’s office; property in the form of abandoned or forgotten funds.
Every year, I get to write a check and watch money from the Common School Fund be distributed to all K-12 schools on the State of Wisconsin! This year, I will get to distribute $33.6 million to the school libraries statewide. For many of these school libraries, these are the only funds they will get to buy new books for the children.
Just today, I approved $9.9 million in State Trust Fund Loans to benefit the City of Menasha and the School District of Shorewood in Milwaukee County. In the last 12 months, including actions approved today, the Board of Commissioners of Public Lands has approved 168 loan applications totaling nearly $144 million.
Want to know more about how the millions of dollars in state loans helping schools as well as municipalities?
A complete list of Wisconsin municipal and school projects funded by today’s Board action can be found here: (http://bcpl.wisconsin.gov/docview.asp?docid=21821&locid=145).
A list of loans approved in the last twelve months can be found here: (http://bcpl.wisconsin.gov/docview.asp?docid=21820&locid=145).
The agency’s current biennial report can be found here: (http://bcpl.wisconsin.gov/docview.asp?docid=18464&locid=145).
Related articles
- $33 million for school libraries (wistatetreasury.wordpress.com)
The Economy and You #3 – The Unemployment Rate
Does the unemployment rate provide an accurate measurement of the health of the state’s economy?
While economists use a lot of data and statistics to determine the health of our economy, most families look at one statistic – the unemployment rate. The unemployment rate measures the percentage of people wanting to work but unable to find a job. Since labor is our economy’s main resource, making sure people have jobs is of great importance to economic policy makers and state and national leaders.
But how does the government calculate the unemployment rate? Each month the Bureau of Labor Statistics (BLS) uses two surveys to determine employment and unemployment figures. The monthly Household Survey comes from approximately 62,500 households which provide information on employment broken down by age, sex, race, and other characteristics. The BLS also surveys around 150,000 businesses to provide data on hours and earnings for various industries. The Current Employment Statistics program provides data from an employer perspective while the Household Survey provides information from the employee perspective. The BLS collects data from the sources to provide monthly employment data.
The first number needed to calculate the unemployment rate is the size of the labor force. The labor forced is defined as the number of employed adults plus the number of unemployed adults. The Household Survey places all adults into three categories: 1) Employed: those working as a paid employee, self employed, or unpaid working for a family business; 2) Unemployed: those not employed who are available for work and have been looking for work during the previous four weeks; and 3) Not in the Labor Force: adults who do not fit into the first two categories such as full-time students, homemakers, retirees, and discouraged workers. Discouraged workers are those who want a job but have given up looking.
So the unemployment rate is considered the number of unemployed divided by the total labor force and multiplied by 100. For example, according to Department of Workforce Development, in April of 2011, the total workforce in the state ofWisconsinwas 3,044,836 persons and 225,840 of those were unemployed. Therefore the state unemployment rate is 7.4%
But does this provide an accurate measurement of the health of the state’s economy? Many argue that it does not. Critics argue that unemployment rates do not address important issues like duration of unemployment, variations in unemployment among demographic groups, variations in unemployment among local regions and industries, and what should be considered as an unemployed person. These and other issues complicate the interpretation of unemployment data and, in turn, the health of our economy.
Related articles
- The official unemployment rate, and the hidden one (csmonitor.com)
- Racial Divide: U.S. Unemployment Rate Soars Among African Americans (inquisitr.com)
Former Town Treasurer calls LGIP the best decision he ever made.
I want to take this opporunity to draw attention to a recent article from Treasury Notes. The article, titled “LGIP Was the Best Decision I Ever Made”, relates how Harvey W. Ohm, the former Treasurer of the Town of Auburndale (who served for more than 50 years), came to enroll Auburndale in the Local Government Investment Pool.
The positive traits that Treasurer Ohm saw in the LGIP in 1991 are still there today. The pool continues to offer secuirty, liquidity, and positive return.
As the pool begins its transition period to DOA, let me assure you that as State Treasurer, I will do everything to make the transfer smooth and seemless, and the LGIP will remain a wise place for municipalities to invest their money.
County Treasurers’ meeting
Yesterday, I sent my Deputy, Scott Feldt, to Eau Claire for the County Treasurers’ summer conference. Scott had the opportunity to speak during the event’s luncheon, and chose to discuss the upcoming transition of the Local Government Investment Pool (LGIP) to the Department of Administration (DOA). He helped to assuage the Treasurers’ fears by explaining that the Treasurer’s Office and DOA were committed to a seemless transition that will occur over a 4-6 week period.
Additionally, Scott reinforced that I and my office will remain attentive to the County Treasurers’ concerns even after the move is completed, and I will continue to be an advocate for them with DOA should the need arise.
I will be an advocate for the County Treasurers not only because it is my responsibility, but also because of the County Treasurers themselves. They are good public servants who deal with a myriad of important financial issues every day, and I respect their dedication and their service.
Wisconsin through the Windshield June 8-15.
Yesterday my office wrapped up a great series of events that kicked off with Seniorfest at Serb Hall in Milwaukee on June 8th. I enjoyed meeting the many attendees, including Sheriff David Clarke, who stopped in briefly. I especially enjoyed the opportunity to return several thousand dollars to Milwaukee area seniors, and I look forward to being part of the annual event again next year. *Video from Serb Hall*
For those intersted, the Wisconsin Department of Health Services lists links to several services for the elderly here.
On Sunday, I had the opportunity to participate in a Wisconsin tradition for young and old alike: the Winnebago County June Dairy Days. The event took place at Rosendale Dairy, Wisconsin’s largest dairy farm, whose 8000+ cows produce 78,000 gallons of milk daily. I spoke about the importance of the dairy industry to Wisconsin, and highlighed dairy’s economic impacy, which I wrote about in this blog earlier in the month.
Fun times at Winnebago County Dairy Days!
Speaking of economic impact, I spent Wednesday the 15th making an economic impact myself, returning thousands of dollars to people in Appleton, Manitowoc, and Sheboygan. In Appleton, I was even joined by former Treasurer Jack Voight, who reiterated his support for keeping both the LGIP and College Saving Program in the State Treasurer’s Office, a question that will be decided in the upcoming budget vote.
Treasury Notes June 2011
This month’s issue includes:
*Why the Legislature should leave the Wisconsin College Savings Plan and Local Government Investment Pool in the OST Budget rather than the follow the Governor’s Proposal
*Why the Wisconsin College Savings Plan is #1 in the country
*How to avoid having your money sent to our office as Unclaimed Property
Image via Wikipedia
State Treasurer Condemns “Zombie” Protest during Special Olympics Ceremony
Statement from Wisconsin State Treasurer Kurt Schuller:
“As the father of a special needs child who was a competitor in the Special Olympics, I am appalled at the total disrespect by “zombie” protestors yesterday outside the Capitol. My daughter worked hard when she was a special Olympian, and it meant so much to her to compete and be honored for her hard work. The Special Olympians who were being honored last night have spent countless hours training and learning in order to get a chance to show their skills and talents. To be confronted by protestors, who will never understand the personal challenges that these Special Olympians face, who decided to politicize a nonpolitical event, shows a complete lack of civility when civility is something we should all be working towards.”
The Economy and You #2 – GDP, Inflation & Unemployment
Economists use all kinds of data and statistics to explain the performance of our economy. Of all of those, there are three statistics that are especially important: real gross domestic product (GDP); the inflation rate; and the unemployment rate.
Real GDP or gross domestic product measures the aggregate income or output of the entire economy. GDP helps to measure the general well-being of an economy and its citizens. When the GDP increases, the economy is experiencing an expansion, if contracting, it is considered a recession. For example, the real GDP per person in theUnited Statesis almost eight times higher than in 1900. This is the measure that lets us know if we are better off than our parents and grandparents.
The inflation rate measures how fast prices are rising. Inflation has varied significantly over time with periods of falling prices, called deflation, that are almost as common as periods of rising prices, or inflation.
The unemployment rate measures how many people in the labor force are looking for work. There is always some unemployment in the economy. The unemployment rate is related to the economy’s GDP or aggregate output because labor is a major component in our economy’s production of goods and services. From a historical perspective, the unemployment rate has also varied from year to year with no long term trend.
As the series continues, I will take a closer look at each of these statistics and how they are measured. Policy makers use these data as guideposts as to the health of our economy and reasons for specific monetary and fiscal policy decisions. It is important to know why.
Related articles
- The Key Indicators of Economic Growth: GDP (Gross Domestic Product) and GNP(Gross National Product) (financenmoney.wordpress.com)
Wisconsin Through the Windshield: June 6, 2011
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I had the opportunity June 6th to take the Unclaimed Property Database to Oshkosh, Omro, Waupun and Fond Du Lac on Monday the 6th. Despite the morning rain and hail in Oshkosh, we were able to get to the library there and help several people locate lost funds. One of the librarians found assets of her parents and aunt that now belong to her since the original owners are deceased.
We run into this a lot as people think their parents finances have been wrapped up after death and years later discover unclaimed funds sitting at the State Treasury. Even if you searched the database a few years ago, you should search every year since we get thousands of new names every year!
When we got into Omro, we found a great War Memorial for our veterans right across the street from the library. There, we helped just a few people before moving on to Waupun…the City of Sculptures. We wrapped up this outreach trip in Fond Du Lac where we met with the most amount of people. About 10 had money coming back.
Last year in Fond Du Lac, the Office reunited a woman there with $102,774.70! Here’s a link to a story about that event. In the 1960′s, this woman’s husband had purchased stock in an oil company for $100….and forgot about it. In the 1990′s he passed and the money transferred to the State Treasury where it sat for quite a while. The stock had split so many times over nearly 50 years that the $100 investment had turned into $102,000! She was certainly surprised to get the check and happy that she stopped by the library to check and see if we had any money for her.
We will be back on the road Wednesday June 8th at Serb Hall in Milwaukee for the annual Seniorfest there. Helping residents who might not have the means or understanding of computers find their money is an important aspect of my job as State Treasurer and this event will help hundreds!
Related articles
- Wisconsin Through the Windshield (wistatetreasury.wordpress.com)
- Wisconsin through the Windshield 2 (wistatetreasury.wordpress.com)
- It’s Like Christmas in April, May & June! (wistatetreasury.wordpress.com)
Wisconsin through the Windshield 2
Last Wednesday and Thursday I had the opportunity to raise awareness of the Unclaimed Property Unit in the western part of Wisconsin. The trip took me to both the Coulee and Indianhead regions of the state, and included stops in La Crosse, Westby, Viroqua, Tomah, New Richmond, River Falls, and Hudson.
On Wednesday, we enjoyed good crowds throughout the tour, and were able to help several people find large sums of money. In Viroqua, I was even able to help one woman reclaim over $1,000 in stock that she hadn’t been able to access in years. All in all, it was a successful trip through the rolling hills and across the meandering rivers and streams of Southwestern Wisconsin.
Thursday found me heading north to New Richmond, located in St. Croix county. St. Croix county is one of the 22 counties that make up the so-called Indianhead region of Wisconsin, which contains 2,500 lakes and over 6,000 miles of rivers and streams. The area is one of Wisconsin’s hottest tourist destinations, and like the rest of western Wisconsin, is gifted with abundant natural beauty. I was warmly received in New Richmond, River Falls, and Hudson, and enjoyed returning more that $300 to a gentleman in New Richmond.
Another highlight of my week was finding out some great news about the EdVest program, which my office administers, from savingforcollege.com. Read all about it here.
- Congratulations to EdVest!
The Treasurer with the librarian in Tomah
The Economy & You Series – #1: Chief Financial Educator
Economics is a part of our everyday lives. Because the state of the economy plays such a central role in our local, state and national politics, people should be aware of how the economy is doing and what effect government’s policies have on the economy. While the responsibility of making economic policy belongs to national and world leaders, we need to understand how their decisions can affectWisconsin’s economy.
To assist in this effort, I will begin a series of articles that will help to shed some light on various economic concepts and issues, and help bring some clarity to the headlines people read in the news. I do not claim to be an economics professor, but there is sufficient information available that I can help people become more informed about our economy and how it affects our financial decisions. It is my hope that people will gain a greater understanding of stories they read and hear in the news by understanding the basic concepts being discussed and question the analysis that is being provided.
It is said that there are four main reasons to study economics:
1) to learn a way of thinking;
2) to understand society;
3) to understand world affairs; and
4) to be an informed citizen.
As these articles continue, I hope that all four reasons can be achieved.
Investing in Your Children’s Future Takes a Few Clicks and 5 Minutes: EdVest College Savings
A lot of families are looking at the ever-rising costs of higher education and wondering how they will pay for it. Whether their child wants to go to Harvard or the technical college down the street, the Wisconsin College Savings Plan is a great place to start.
EdVest and Tomorrow’s Scholar, the two plans under the Wisconsin College Savings Plan, offer a variety of opportunities for investing. Just last week, savingforcollege.com ranked Tomorrow’s Scholar #1 in the country for 529 savings plans. EdVest ranked in the top ten. Both plans have been in the top ten for the past 3 years. Here’s a link to that story, in case you missed it!
And opening an account is as easy as clicking on edvest.com, filling out the application and hitting send. A five minute visit to the website will help you down the road. You can spend more than 5 minutes there and calculate the costs of college, check out all the options or request an enrollment kit be sent to you.
You can choose to deduct money from your paycheck or decide to send money in every month. You can choose how aggressively or conservatively you want your money invested. And each year, you get up to $3,000 in a Wisconsin tax deduction for each account you may have…considering you want to save for all your children! You can even open an account for a grandchild or niece/nephew that lives out of state! You still get to claim the deduction and help your family member get through school later in life.
Related articles
- Bringing College Savings Plans into the 21st Century (wistatetreasury.wordpress.com)
- 529′s and Financial Aid Sessions at NAST Symposium (wistatetreasury.wordpress.com)
- A Tax Change to “Grandparent Gifts” for EdVest (wistatetreasury.wordpress.com)
- Wisconsin’s College Savings Plan (wistatetreasury.wordpress.com)
June is Dairy Month!
Dairy month is upon us, and now is a great time to show our appreciation for dairy farming and all that the dairy industry does for Wisconsin.
In Wisconsin, agriculture is a way of life. 163 years after statehood, agriculture still employs 1 out of every 10 Wisconsinites, with the Dairy industry contributing nearly 40% of all agricultural jobs. In raw numbers, that’s almost 150,000 jobs. When those 150,000 workers wake up at the crack of dawn, they go to work at one of 12,700 dairy farms – the most in the nation; and I’m proud to say that out of all the farms in the state ofWisconsin, 99% are STILL FAMILY OWNED.
The dairy industry inWisconsin contributes $26.5 billion a year to the state’s economy, while the average dairy cow generates over $20,000 a year in economic activity. So the next time you drink a glass of milk, eat a piece of cheese, or put cream in your coffee, know that you are supporting a pillar of Wisconsin’s economy, and the many hard-working farmers that make up the dairy industry in Wisconsin.
For more information on dairy farming in Wisconsin, please visit the Wisconsin Milk Marketing Board’s website. They even list tasty recipes!
