529 News

Recent Plan News

Ascensus DC Transition

(March 27, 2017) - The DC College Savings Plan transitioned from Calvert Investments, Inc. to Ascensus College Savings over the weekend. The new plan offers lower fees - the most expensive age-based option is 0.36% - and a wider range of investment options from multiple managers. Among the age-based portfolios that invest in a combination of index funds, managers include iShares, Schwab, and Vanguard. Among individual portfolios managers include active and passive providers Loomis Sayles, DFA, and JP Morgan, as well as the aforementioned index fund managers.

There are also two socially-responsible portfolios from DFA, both domestic and international equity funds. Because the prior manager was a socially-responsible investment provider, participants looking specifically for those types of investments will still have two individual options available to them.

The advisor-sold plan has been folded into the direct-sold plan and the advisors of record removed from the respective accounts. Ascensus has provided guidance for investors that use an advisor with their account here.

For more information, click here.

OTTA issues RFI for investment consulting and actuarial services for CollegeAdvantage

(February 6, 2017) - Ohio Tuition Trust Authority (OTTA) issued Requests For Information (RFIs) for investment consulting services and actuarial consulting services for CollegeAdvantage, Ohio’s 529 College Savings Program. Responses are due by Monday, Feb. 13, 2017.

For more information, click here.

Maryland College Investment Plan renews program manager contract with T. Rowe Price

(January 27, 2017) - The Maryland College Investment Plan has renewed its contract with T. Rowe Price, extending the program manager's term through 2024. As part of the renewal, a reduction in the overall program fee has been announced that will go into effect on July 1, 2017. The fee will be reduced from 0.13% to 0.05%, eliminating the $10 account holder fee. Other enhancements will include improved online account holder experience, online gifting center, Smartvideo, Online employer benefit solution and additional literacy tools and content.

For more information, click here.

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