Illinois selects Bright Directions program manager
The Treasurer of the State of Illinois has selected Union Bank and Trust to continue managing the state's Bright Directions advisor-sold 529 savings program. Union Bank will receive a program management fee based on average daily net assets of the plan, ranging from 0.17% - 0.32%. The new contract is effective August 10, 2015 through July 19, 2017, with an optional five year extension.
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