529 PLANS

529 News

Board approves changes to Wisconsin EdVest

(April 27, 2005) - Wisconsin's EdVest 529 savings program will be undergoing several changes, with a projected implementation date of early September 2005.

Among the changes is the addition of two new risk-based tracks in the age-based option, a reallocation of Wells Fargo Advantage Funds in several of the investment portfolios, and a decrease in the minimum subsequent contributon to $15 from $25.

In addition, the program will launch a new "Wisconsin Select Portfolio" which will invest in funds managed by firms with a significant presence in Wisconsin. The portfolio will include funds by Artisan, Marshall (M&I), Mason Street (Northwestern Mutual), North Track (Ziegler), Robert W. Baird, Thompson Plumb and Wells Fargo.

The state's portion of the program administrative fee will be eliminated during a "moratorium" that will stay in effect as long as the state's contingency fund maintains a balance greater than the two most recent year's worth of operating expenses. The net change in program and fund operating expenses is a reduction in all portfolios, ranging from 5-20 bps.

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