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Recent Plan News

Schwab 529 College Savings Plan extends contract, lowers fees

(May 22, 2015) - Charlse Schwab has announced that it will be reducing the fees in its Schwab 529 College Savings Plan in order to earn a two-year contract extension with the state of Kansas. Total expense ratios will be reduced by an average of 20% for active portfolios and 45% for passively managed portfolios. Schwab's contract with Kansas has been extended through June 30, 2018.

Connecticut Higher Education Trust 529 Plan renews contract with TIAA-CREF

(March 31, 2015) - The Connecticut Higher Education Trust 529 Plan, or CHET, has announced that it will renew its contract with TIAA-CREF Tuition Financing, Inc. for another five years. The new contract with TIAA-CREF will be through March 12, 2020.

Illinois issues RFP for Bright Directions program manager

(February 15, 2015) - The Treasurer of the State of Illinois has issued a Request for Proposals from firms interested in managing the state's Bright Directions advisor-sold 529 savings program. The 529 plan held $1.76 billion in assets as of December 31, 2014 with current program manager Union Bank and Trust whose term ends on November 15, 2015. The new management agreement will run through July 19, 2017 to coincide with the term of Illinois' other advisor-sold 529 savings program called Bright Start Advisor.

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