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Recent State News

NorthStar Financial Services Group to take over Texas 529 plans

(July 23, 2014) - According to Ignites, NorthStar Financial Services Group is expected to make an entrance into the 529 market by becoming the program manager of Texas' three 529 college savings plans in September 2014. The direct-sold Texas College Savings Plan, advisor-sold LoneStar 529 Plan and prepaid Texas Tuition Promise Fund are all currently managed by OFI Private Investments, who did not rebid when their contract expired at the end of 2012.

New Mexico seeks program manager for The Education Plan and Scholar's Edge

(May 9, 2014) - The New Mexico Education Trust Board has issued an RFP to select a new program manager for its two 529 plans - The Education Plan, which may be purchased directly, and the advisor-sold Scholar's Edge plan. The contract with the current program manager, OppenheimerFunds, is set to expire on May 25, 2015.

Wisconsin governor signs law to extend 529 plan tax deduction benefits

(April 14, 2014) - Senate Bill 389, which provides a number of changes to the existing Wisconsin state tax deduction for 529 plan contributions, has been signed into law. Among the changes: