Putnam Investments Monday announced it is improving the fee disclosure in Putnam CollegeAdvantage, the 529 plan it runs in Ohio, and also reducing the plans annual maintenance fee.
Beginning May 24, Putnam will include plain language and tables to clearly identify the fees shareholders pay in the plan. As well, the firm is reducing its annual maintenance fee from $25 to $15.
Putnam also reduced the fees on some of the funds in its 529 plan earlier this year. "The enhanced transparency and fee reductions for PutnamCollege Advantage are an extension of the cost reductions and information disclosure policies we instituted for our mutual funds," said Elaine Sullivan, director of educational savings at Putnam Investments.