529 News

Utah 529 drops fees, adds investment option

(September 14, 2008) - The Utah Educational Savings Plan is reducing its management fee by 12% effective October 1, 2008, and at the same time lowering its account maintenance fee by 25%. The range of asset-based fees in the program will be 0.22% to 0.34%,
which includes the Vanguard underlying expense ratios.

The account maintenance fee will fall from $20 to $15 annually, with accounts charged $3.75 at the end of each quarter. Accounts with less than $5,000 are charged only 0.075% of the balance each quarter.

Utah residents are assessed no fees for Option 1—Utah Public Treasurer’s Investment Fund, and do not pay the account maintenance fee regardless of investment option.

A new static investment option (Option 10) with 30% of assets allocated to international equity funds will become available to account owners on October 1, 2008.

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