New Mexico to consolidate adviser-sold 529s
New Mexico's CollegeSense 529 plan is being merged into the state's Scholar'sEdge 529 plan. Both plans are currently sold through advisers. The move is planned for April 2008 and will affect the approximately 88,000 accounts in CollegeSense.
OFI Private Investors will continue as program manager of Scholar'sEdge. OFI is a subsidiary of OppenheimerFunds, Inc. and is also manager of New Mexico's direct-sold 529 plan, The Education Plan.
Evergreen Investments, manager of CollegeSense, will no longer be a 529 program manager. However, the distributor of CollegeSense, New York Life Investment Management LLC (NYLIM), will have mutual funds from its MainStay Investments group added to Scholar'sEdge.
For more information, click hereReturn to 529 News centerOFI Private Investors will continue as program manager of Scholar'sEdge. OFI is a subsidiary of OppenheimerFunds, Inc. and is also manager of New Mexico's direct-sold 529 plan, The Education Plan.
Evergreen Investments, manager of CollegeSense, will no longer be a 529 program manager. However, the distributor of CollegeSense, New York Life Investment Management LLC (NYLIM), will have mutual funds from its MainStay Investments group added to Scholar'sEdge.