Money Management Executive
Iowa Alters 529 Plan
September 05, 2001, 1:00 a.m. EDT 1 Min Read
The Vanguard Group and College Savings Iowa have altered operations of the 529 college savings plan they offer together, the companies announced today.
Since College Savings Iowa introduced the plan in 1998, the State Treasurers Office has managed it for plan participants using Vanguard mutual funds as investment offerings. Under the new arrangement, the State Treasurers Office will continue to manage the plan, however Vanguard will add plan participant servicing and marketing support.
The new structure will include four new age-based investment tracks that are made up of five customized portfolios, which will be managed by Vanguard. Plan participants will be able to choose from these in addition to the Vanguard products already offered in the plan.
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Money Management Executive