The plan will offer four portfolios that combine a mix of equity and bond mutual funds ranging in aggressiveness from equity growth, to balanced to conservative, plus a fourth age-based portfolio that will invest more conservatively over time. The plan will have a contribution limit of $287,070, or $11,000 per contributor a year, and require minimum investments of $50 a month for those who sign up for the automatic contribution plan. The program will also allow participants to invest up to five years worth of contributions in a single year, meaning that individual contributors will be able to invest $55,000 per beneficiary and married couples will be able to invest $110,000.
The program also includes a tie-in with
George Gatch, president of JPMorgan Funds, said the two firms "have complementary investment styles."