States adopt voluntary 529 disclosure principles
Members of the College Savings Plans Network (CSPN) have approved a set of voluntary disclosure principles for 529 plans in an effort to standardize program disclosures covering fees, expenses, state benefits, investment performance, and other aspects of state-sponsored college savings programs. CSPN is affiliated with the National Association of State Treasurers. The principles are designed to help investors in these programs understand important features and to make comparisons of different 529 plans easier. The need for standardized disclosures has become more urgent in the midst of new investigations in the 529 arena by the SEC/MSRB, the NASD, and members of Congress. CSPN will continue to seek comments from its members regarding the implementation of the principles and make modifications as appropriate.
UPDATE June 7, 2004: CSPN and NAST have submitted the draft voluntary disclosure principles to the Securities and Exchange commission. To see a copy of the principles along with the cover letter, click HERE.
Return to 529 News centerUPDATE June 7, 2004: CSPN and NAST have submitted the draft voluntary disclosure principles to the Securities and Exchange commission. To see a copy of the principles along with the cover letter, click HERE.