Virginia's VEST adds Vanguard options, reduces expenses
The Virginia Education Savings Trust (VEST) has implemented several changes. The 529 plan has added one additional age-based portfolio along with five single-fund portfolios. The single-fund portfolios each invest in a different Vanguard index fund.
VEST has also revised its program pricing. The plan now charges a management fee of 0.25% on top of the underlying fund expenses. Combined expenses are reduced from approximately 1% annually to a range of 0.33% - 0.56%.
The settlement process for contributions and distribution requests has also been changed. Rather than waiting 2-4 weeks for contributions to be invested, or distributions to be processed, the settlement process is conducted every Wednesday for all contributions and distribution requests received during the preceding calendar week.
Return to 529 News centerVEST has also revised its program pricing. The plan now charges a management fee of 0.25% on top of the underlying fund expenses. Combined expenses are reduced from approximately 1% annually to a range of 0.33% - 0.56%.
The settlement process for contributions and distribution requests has also been changed. Rather than waiting 2-4 weeks for contributions to be invested, or distributions to be processed, the settlement process is conducted every Wednesday for all contributions and distribution requests received during the preceding calendar week.