logo
Fifth Third and Indy 500 Driver Graham Rahal Present Indiana Family With College Savings Plan

Fifth Third and Indy 500 Driver Graham Rahal Present Indiana Family With College Savings Plan

GREENSBURG, Ind., May 20, 2025 /3BL/ - Two cousins in Indiana are marking their shared birth date with a celebration that's a Fifth Third Better. That's because the babies – both born on 5/3 in different years – each are getting a $1,053 head start to their college funds, thanks to Fifth Third Bank and the Gift of College.
Fifth Third Indiana President Mike Ash and Indy 500 driver Graham Rahal invited the families of those cousins to visit Indianapolis Motor Speedway on Monday, where the newest baby in the family, Emersyn, and her parents were gifted a care package. The package included a $1,053 gift card for a 529 College Savings Plan, as well as some goodies from Rahal Letterman Lanigan. It was a special extension of a unique program the Bank launched several years ago to welcome infants who arrived on 5/3.
'We are thrilled to be part of this incredible event once again with Fifth Third! Thinking about our experience with Fifth Third Babies in 2022 brings back such wonderful memories, especially since it happened right after we announced my wife was pregnant with our second daughter,' Rahal said. 'One of the many reasons we value our partnership with Fifth Third is their generous donation of $1,053 to start these kids on the right path toward college savings. This act of kindness and foresight is something we deeply value and it aligns perfectly with our own beliefs at Rahal Letterman Lanigan.'
The Fifth Third Babies program is one of several ways the Bank celebrates a holiday that is all its own. Employees also mark May 3, or 5/3 on the calendar, with volunteerism and service in their local communities.
Since 2017, the Fifth Third Babies program has also delivered more than $730,000 in 529 plan funding to the families of nearly 700 babies born on 5/3 through partnerships with 125 hospitals across seven states. The program rotates to new communities across Fifth Third's 11-state footprint each year.
This year, Fifth Third worked with hospitals in Eastern Michigan and Southwest Florida to welcome Fifth Third Babies. In 2022, the Indiana market was part of the program. That's when Rylee Balser – Emersyn's cousin – received the college boost and other gifts.
Three years to the day later, Emersyn McQueen came into the world at Columbus Regional Hospital, where mother Braelyn is a labor and delivery nurse.
Mother and nurse, Braelyn, shared, 'Emersyn decided to make her entrance early! I was actually working a shift when I went into labor. My team was urging me to get in a hospital bed, but I told them I wasn't finished writing my reports. Needless to say, they won, and I ended my shift early to welcome my daughter Emersyn into the world!'
'When we heard about this remarkable coincidence, we knew we wanted to do something special for the family,' Ash said. 'And what better way than being on the track at the Indianapolis Motor Speedway with Indy 500 driver, Graham Rahal. Graham was a large part of the program when Indianapolis hosted the event in 2022, so we're excited he is able to join us as he prepares for the 109th running of the Indy 500!'
From May 3-29, members of the public also can participate in a social media sweepstakes to win one of 53 $1,053 Gift of College cards to be redeemed through state 529 college savings plans and a Fifth Third Babies bag. Winners will be selected on 529 Day, or May 29 on the calendar. More information and full sweepstakes rules are available online at 53.com/babies.1
1 NO PURCHASE NECESSARY. Sweepstakes open to legal residents of the U.S., excluding New York. At least 18 years old to enter. Odds of winning depend upon the number of eligible entries received. Void where prohibited. Sweepstakes begins May 3, 2025, at 12:00 AM EST and ends May 29, 2025, at 8:00 AM EST. For complete sweepstakes rules visit 53.com/babies. Sweepstakes is in no way sponsored, endorsed, administered by, or associated with, Meta Platforms, Inc.
###
About Fifth ThirdFifth Third is a bank that's as long on innovation as it is on history. Since 1858, we've been helping individuals, families, businesses and communities grow through smart financial services that improve lives. Our list of firsts is extensive, and it's one that continues to expand as we explore the intersection of tech-driven innovation, dedicated people and focused community impact. Fifth Third is one of the few U.S.-based banks to have been named among Ethisphere's World's Most Ethical Companies® for several years. With a commitment to taking care of our customers, employees, communities and shareholders, our goal is not only to be the nation's highest performing regional bank, but to be the bank people most value and trust.
Fifth Third Bank, National Association is a federally chartered institution. Fifth Third Bancorp is the indirect parent company of Fifth Third Bank and its common stock is traded on the NASDAQ® Global Select Market under the symbol 'FITB.' Investor information and press releases can be viewed at www.53.com. Deposit and credit products provided by Fifth Third Bank, National Association. Member FDIC.
CONTACT: Carrie Hagovsky, Regional Marketing Manager(317) 383-2106 | [email protected]
Visit 3BL Media to see more multimedia and stories from Fifth Third Bancorp
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Simple Mistake Costs Estate Big Tax Break
Simple Mistake Costs Estate Big Tax Break

Forbes

time2 days ago

  • Forbes

Simple Mistake Costs Estate Big Tax Break

The portability of the lifetime estate and gift tax exemption amount between spouses was introduced in the 2010 tax law. But details of portability aren't well-known, and misunderstandings can cost an estate a lot of money. Each individual has a lifetime exemption from the estate and gift tax, which is $13.99 million in 2025 and will rise to $15 million in 2026. After that, it will be indexed for inflation. When one spouse dies and his or her estate doesn't use the entire lifetime exemption, the unused exemption amount can be passed to the surviving spouse. The surviving spouse then has an estate and gift tax exemption equal to his or her own exemption amount plus the unused amount of the deceased spouse. The surviving spouse's exemption amount is increased for inflation each year. But the unused amount from the deceased spouse isn't increased for inflation. The transfer of the unused amount is known as portability, though that term isn't used in the tax code or regulations. Because of portability, it's frequently said that a married couple has an estate and gift tax exemption amount of twice the individual exemption amount. But that's not the full story. It's often overlooked that passing the unused exemption amount to the surviving spouse isn't automatic. The regulations require the estate executor of the first spouse to die to elect to pass on the unused exemption. If the election isn't made, the unused exemption amount doesn't pass to the surviving spouse. The election is made when the executor makes a timely filing of an estate tax return for the deceased spouse. No special document or language is needed to make the election. The IRS considers the portability option to be elected if an estate tax return is filed, unless there's a statement saying that the unused exemption amount isn't being transferred to the surviving spouse. To transfer the unused exemption amount, the estate tax return must be filed even if one isn't otherwise required and the estate's value is far less than the deceased spouse's exemption amount. That's the trap estates fall into. The executor sees that the estate's value is far less than the deceased's exemption amount and doesn't file an estate tax return because one isn't required. But not filing the return means the unused exemption amount doesn't pass to the surviving spouse. Also, if an estate tax return is filed to ensure the unused exemption passes to the surviving spouse, the return must be timely, complete and accurate. Otherwise, the transfer of the exemption amount is void. An estate recently learned these lessons the hard way. The wife passed away with an estate valued at less than the exemption amount. The executor obtained an extension of the deadline for filing the estate tax return. But the executor didn't file the return until well after the new deadline. The husband died two years after the wife. His executor filed an estate tax return claiming his exemption amount plus the unused portion of the late wife's exemption. The IRS denied the use of the late wife's exemption amount, and the Tax Court agreed. The wife's estate tax return wasn't properly filed, because it was late. In addition, required information was missing, such as an itemization of the estate's assets and the fair market values of the assets on the date of her death. If there's any possibility a surviving spouse's estate might exceed that spouse's lifetime exemption amount at some point in the future, the executor of the estate of the first spouse to pass away should file an accurate, timely estate tax return to preserve any unused exemption amount for the surviving spouse. When deciding whether to exercise the portability election, keep in mind that the estate tax exemption amount is indexed to the Consumer Price Index. It's possible that the rate of return on investments will exceed the CPI. That could cause an estate that's comfortably below the estate exemption amount to exceed the amount after a decade or more of compounding. (Estate of Rowland v. Commissioner, T.C. Memo 2025-76)

Using IndyCar imagery for 'Speedway Slammer' subverts Indiana's community pride
Using IndyCar imagery for 'Speedway Slammer' subverts Indiana's community pride

Indianapolis Star

time2 days ago

  • Indianapolis Star

Using IndyCar imagery for 'Speedway Slammer' subverts Indiana's community pride

The Indianapolis Motor Speedway and the Indy 500 are not just world class motorsport spectacles, they are an engine for Indiana's economy. They sustain over 8,000 jobs and generate over a billion dollars in economic activity annually, reinforcing its critical role in fueling local businesses, hotels, restaurants, community pride and international visitation. Department of Homeland Security Secretary Kristi Noem recently announced that Indiana will hold Immigration and Customs Enforcement detainees in the 'Speedway Slammer' at the Miami Correctional Facility, using an IndyCar with ICE branding as a promotional image. At ICE detention sites, people are often confined without due process. Many are legal residents or even U.S. citizens. Coupling the name of an ICE detention site with the imagery of the Indianapolis Motor Speedway threatens to turn a pillar of community pride, tradition and economic stability into a source of shame and controversy. Penske Entertainment has already objected to the unauthorized use of IndyCar imagery. The fact that federal officials are doubling down, despite IMS concerns, is disturbing. Government agencies should not feel emboldened to exploit local business leaders, override community voices, mistreat residents and use beloved institutions as props for cruelty. It's not just about the name; it's the principle. We should never allow our institutions, our symbols, or our communities to be used to dehumanize our fellow men, women, and children.

Fifth Third Bancorp Announces Earnings Release Dates for 2026 and 2027
Fifth Third Bancorp Announces Earnings Release Dates for 2026 and 2027

Business Wire

time4 days ago

  • Business Wire

Fifth Third Bancorp Announces Earnings Release Dates for 2026 and 2027

CINCINNATI--(BUSINESS WIRE)--Fifth Third Bancorp (Nasdaq: FITB) is expected to report financial results and host conference calls to discuss results on the following dates: Fourth Quarter 2025 – Tuesday, January 20, 2026 – 10:00 AM ET First Quarter 2026 – Friday, April 17, 2026 – 9:00 AM ET Second Quarter 2026 – Friday, July 17, 2026 – 9:00 AM ET Third Quarter 2026 – Monday, October 19, 2026 – 9:00 AM ET Fourth Quarter 2026 – Tuesday, January 19, 2027 – 10:00 AM ET First Quarter 2027 – Tuesday, April 20, 2027 – 9:00 AM ET Second Quarter 2027 – Tuesday, July 20, 2027 – 9:00 AM ET Third Quarter 2027 – Tuesday, October 19, 2027 – 9:00 AM ET Financial results are expected to be available at approximately 6:30 AM ET on each of the dates listed above. Conference calls will be webcast live and may be accessed through the Fifth Third Investor Relations website at (click on 'About Us' then 'Investor Relations'). Those unable to listen to the live webcasts may access a webcast replay through the Fifth Third Investor Relations website at the same web address. About Fifth Third Fifth Third is a bank that's as long on innovation as it is on history. Since 1858, we've been helping individuals, families, businesses and communities grow through smart financial services that improve lives. Our list of firsts is extensive, and it's one that continues to expand as we explore the intersection of tech-driven innovation, dedicated people, and focused community impact. Fifth Third is one of the few U.S.-based banks to have been named among Ethisphere's World's Most Ethical Companies® for several years. With a commitment to taking care of our customers, employees, communities and shareholders, our goal is not only to be the nation's highest performing regional bank, but to be the bank people most value and trust. Fifth Third Bank, National Association is a federally chartered institution. Fifth Third Bancorp is the indirect parent company of Fifth Third Bank and its common stock is traded on the NASDAQ® Global Select Market under the symbol 'FITB.' Investor information and press releases can be viewed at Category: Earnings

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store