06/12/2026
Wendy K. Baumann, Wisconsin Department of Financial Institutions Secretary, provided updates on such subjects as EdVest 529 and Able accounts at Tuesday's Rotary meeting. Recent changes to EdVest 529, tax exempt accounts which provide saving and funding opportunities for loved ones' college, can now be transferred from child to child. They can also be rolled off into a Roth account.
Able accounts are designed for people with disabilities. The administration of these accounts is changing from being handled in Illinois, to being administered in Wisconsin, she explained, which will be more user-friendly for families.
Wendy also discussed statewide efforts to enhance financial literacy. Emphasizing the importance of educating young people on key money issues, she said there's even a mini credit union being run by some 2nd and 3rd graders in Wisconsin!
It was a treat having Wendy, a long-time Rotarian in the Greater Milwaukee area, share her knowledge and expertise with us. Thank you, Wendy!