Author: Deborah Goodkin, Managing Director, Savings Plans, First National Bank of Omaha
Even though summer is coming to a close, the NEST 529 College Savings Plan hasn’t taken any summer vacations. In fact, we’ve been working harder than ever to provide enhancements to our pre-existing lineup of strong investment options.
As of July 23rd, all plans now offer enhancements that include updated age-based and static investment options, as well as lowered costs. Designed with your best interests in mind, the detailed changes include:
- NEST 529 redesigned its age-based options to maximize return and reduce market risk that may arise because of large asset allocation shifts that occur when a beneficiary moves from one age band to another as the beneficiary approaches college age.
- NEST 529 expanded its static investment options to provide account owners more choices based on how close they are to their savings goals. For instance, one option would give those who started saving late investments to help them catch up.
- The total estimated annual asset-based fees changed as a result of three factors:
- Nebraska lowering its State Administration Fee from 0.03 percent to 0.02 percent.
- Changes to underlying investments’ expense ratios.
- The creation of additional age bands in the Age-Based Investment Option and additional Static Investment Options.
Together, these plan improvements will better position your investment portfolio for success, allowing you to maximize savings, meet your goals and ensure a stable financial future for your loved ones.
For more information, visit the investment options page on our website.