Yet another consolidation has occurred in the competitive college savings plan market. South Dakota, the state best known for Mount Rushmore, is the latest to see its two plans merge into a single plan.

Legg Mason of Baltimore has dropped out of the 529 college savings plan market in South Dakota. Effective Sept. 2, Legg Mason's in-state plan, the Core4College 529 Plan, closed, while the plan's total holdings of about $125 million were transferred to the state's other college savings plan, the CollegeAccess 529 Plan, which has $565 million under management and is administered by Allianz Global Investors of Stamford, Conn.

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