Senator to propose removing states from 529 plans
InvestmentNews reports in an exclusive interview with Sen. Peter Fitzgerald that the Illinois Republican is considering introducing legislation before the end of the year that would bar states from involvement in 529 plans. He also plans to write letters to other key committee chairs and senators asking them to pursue the issue. Sen Fitzgerald is retiring from the Senate in three months.Return to 529 News center
In a press release issued by his office, Fitzgerald states that fees in 529 plans are too high, due to the fact that "... too many middlemen, including state bureaucrats, are feeding at the trough."