Texas Comptroller’s Office announces reduction in some fees, changes to the Advisor-Sold LoneStar 529 Plan
Comptroller Glenn Hegar announced today that the state’s tax-advantaged, advisor-sold college savings plan, the LoneStar 529 Plan, implemented the following enhancements – including a reduction in some fees – that were effective March 7:
Reduction in the front-end sales charge for Class A shares from 5.75% to 2.75%;
Reduction in total plan level fees, including the program management fee, the state administrative fee and the estimated underlying investment expenses;
A change from Age-Based Portfolios to Target Enrollment Year Portfolios to allow more flexibility for investors to select a portfolio based on when they plan to use the account and their risk tolerance; and
Introduction of a new Registered Investment Advisor (RIA) share class with no sales charges or asset-based distribution/service fees. (Fees may be assessed separately by the financial advisor.)
Return to 529 News centerReduction in the front-end sales charge for Class A shares from 5.75% to 2.75%;
Reduction in total plan level fees, including the program management fee, the state administrative fee and the estimated underlying investment expenses;
A change from Age-Based Portfolios to Target Enrollment Year Portfolios to allow more flexibility for investors to select a portfolio based on when they plan to use the account and their risk tolerance; and
Introduction of a new Registered Investment Advisor (RIA) share class with no sales charges or asset-based distribution/service fees. (Fees may be assessed separately by the financial advisor.)