Nebraska 529 enters into 7-year contract with First National Bank

Nebraska State Treasurer Shane Osborn and the Nebraska Investment Council have entered into a seven-year agreement with First National Bank of Omaha to become the Program Manager for the College Savings Plan of Nebraska (CSPN), replacing Union Bank & Trust Company.

First National Bank will provide program management for the CSPN's Direct, Advisor and TD Ameritrade Plans, offering a new investment lineup while reducing asset-based fees and completely eliminating the annual account owner fee, he said.

Detailed information will be communicated to account owners over the coming months, with the transition to First National Bank scheduled to commence with the close of business on December 17, 2010.

First National will partner with Upromise Investments, Inc., to provide recordkeeping, administrative services and additional back office services.

First National Bank is a subsidiary of First National of Nebraska. First National of Nebraska has grown into the largest private banking company in the United States.
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