T Rowe Price to retain Maryland 529 management
College Savings of Maryland has selected T. Rowe Price to manage its 529 savings program for another seven years after the current contract expires on July 10, 2006. Several changes are anticipated in the program including the elimination of the $75 enrollment fee, reduction of the program management fee from 0.38% to 0.28% with further reduction to 0.25% upon reaching $2 billion in assets, reduction of the annual account maintenance fee from $30 to $25, and the introduction of a new equity index portfolio.
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