529 plan Latest News
Missouri's 529 College Savings Plan New Investment Options – MOST
Missouri 529 college saving plans has been relaunched with Upromise investments, a 5years management contract. Cost reductions and new investment options are planned to enhance MOST— Missouri’s 529 College Savings Plan. By doing this it is helping families to save for meeting the rising costs for higher education. The plans expense ratios for investment options are dropping from 0.55% to 1.58% to 0.29% to 0.60%. This reduction can save Missouri’s 529 College Savings Plan account owners more than $18.5 million over the next five years.
TIAA-CREF Wins California 529 Contract
TIAA-CREF won to manage the states direct sold 529 college savings plan which has more than $4 billion in assets. The present contract is with fidelity which will be taken over by November. Families investing in California 529 College Saving Plan will have a lower average fee with different types of fund options.
New York Selects J P Morgan, Vanguard for College Savings Plan
New York selected both JPMorgan and Vanguard for its college savings plan. JP Morgan was picked as investment manager for its college savings plan which is sold through advisors and Vanguard for direct-sold accounts. Upromise will be the administrator for both the plans and the contract stays for next seven years. New York college savings plan has more than $12 billion invested in more than 680,000 accounts.
529 Plan Assets Report – American Families Increase Savings for Higher Education
With the increase cost in education the assets in the 529 Plans have steadily increased. According to FinAid.org, college tuition is likely to increase about 8% each year that means the cost of college doubles every nine years. The 529 college savings market remains to be stable and there is continues growth helping families to save for higher education. The 529 report shown below is clearly a good sign for those who agree that college savings is a long term investment which helps our children for better education.
As of December 31, 2010, the average balance in a 529 plan account was $15,492 compared to $14,932 at the end of 2007. The average balance increased 17.5% from 2009 to 2010. The 529 plan assets reached record amounts in 2010 with $157.43 billion. This is an 18% increase for the time period of January 1, 2010 to December 31, 2010. Assets in 529 plans were $133.41 billion in 2009.
Employee Suspended Over College Savings Deal
A strange incident taken place Bright Start College Savings Program. State Treasurer Dan Rutherford has suspended an employee who sent early notice to her co-workers of a new component of the Bright Start college savings program. There was a promotional activity like participants in the Bright Start college savings would get $250 if they put $250 of their money in the program. The internal staff emailed about the promotion to 25 outside people who took the advantage. There offer was only for 2500 accounts, but it was filled even before the public knew about it.
State Treasurer Fitzgerald Announces May 29 is 529 College Savings Day.
State Treasurer Michael L. Fitzgerald wants Iowans to celebrate on May 29th as College Savings Day. They would explore the advantages/benefits of using 529 plans, projecting College Savings Iowa.
It’s a way for raising awareness to 529 plans, families can start saving for their Childs education by registering in the month of May and they get a chance to win $529 college savings Iowa account
College Savings Iowa offers families a tax advantaged way to save money for their children's higher education.
Parents, friends and grand parents can invest in College Saving Iowa on behalf of a child.
It takes $25 to open an account.
for more information visit:
www.my529iowaplan.com
Flow in 529 College Plan Increased in Past 2yrs
The 529 college savings plans have grown rapidly in past two years. There was an increase by 75% in 529 saving plans according to the Financial Research Corporation (FRC)
Investors have transitioned nearly $1 trillion in assets from money market mutual funds into long-term investment products since 2008.
The study also shows apart from investor behavior there was innovation in 529 plans, new ideas and marketing strategies plays an important role in the increase of the 529 college savings plan.
For more information visit:
http://www.planadviser.com/Flows_into_529_Plans_Growing_Rapidly.aspx
Oregon college savings board cuts fees on all investment options
The Oregon 529 College savings board cut its management fees.
The Board has taken the decision to cut the fee on its investment funds and by doing so it is able to save nearly 133,000 accounts at least $500,000 a year.
The fees were waived off depending on different money market portfolio which in turn returned negative returns.
The same kind of fee waiver will be available for 3 different state college savings plans like
Connecticut Higher Education 529 College Savings Program
Minnesota College Savings Plan
Georgia's Path2College 529 Plan
For more information visit:
http://blog.oregonlive.com/finance/2011/05/oregon_college_savings_board_c.html
Record investment for College through tax-saving Oregon 529 Plans
Families are saving for higher education and Oregon tax saving college investment plan.
The investments combined through these accounts have made a record of $1.28 billion.
Oregon 529 College Savings Board helping families to know the right combination of saving as its getting very expensive for college.
Oregon 529 College Savings plan qualifies for state and federal tax benefits.
For more information visit:
http://www.oregon529network.com/Media/02-11-11%20RELEASE%20-%20Network%20reaches%20record%20assets.pdf
Indiana State launches CD 529 program with College Savings Bank
Colleges Savings CD 529 Savings plan are safe and have beneficial CD Options
FDIC-insured, principal protected, and offered with all of the tax benefits of a 529 college savings plan.
The college CD plans are available online or you can also get through financial advisors.
College Savings CD 529 savings plan has a principal protected option which is good for any investor.
For more information visit:
http://www.collegechoicecd.com/default.aspx
