SunGard Employee Benefit Systems (SunGard EBS) has put together a platform to handle 529 college savings programs. The Birmingham, Alabama unit is part of SunGard (NYSE: SDS).

The platform will be able to handle both prepaid plans and plans that allow non-residents and allow contributions to be used toward out-of-state college tuition and expenses. The firm reports that the platform is already in use several clients providing recordkeeping of the authorized state 529 plans, but did not name those clients.

The platform is based on the firm's OmniPlus recordkeeping platform that is used to recordkeep 401(k) and other defined contribution plans.

"No other IRS-approved program provides the combination of benefits that a 529 plan does," says David Kennedy, president of SunGard Employee Benefit Systems. "SunGard will work with clients to leverage the functionality and customization of OmniPlus to satisfy the processing needs for various 529 plans."  

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