Colorado's Smart Choice College Savings Plan offers two FDIC-insured options through FirstBank: a one-year time savings account and a money market savings account.
- Program typeSavings
- Inception2009
- State agencyCollegeInvest, a division of the Colorado Department of Higher Education
- Tax deduction
- Program ManagerFirstBank Holding Company
- Program distributorFirstBank through its individually chartered banks.
Investment Options
Investors in Smart Choice College Savings Plan can select from the following investment options. Click on a portfolio name for more information.
Sometimes referred to as the enrollment-based option, this is an investment approach where your asset allocation is programmed to change over time. Accounts for young beneficiaries are invested aggressively and accounts for beneficiaries with college right around the corner are invested much more conservatively. In some 529 plans, the age-based option operates by automatically transferring your investment from one static portfolio to another at certain points in time. Others utilize lifecycle funds or employ lifecycle-type tactics within the portfolio containing your investment so that it is not necessary to transfer your investment between portfolios.
