NEST 529 Advisor College Savings Plan Unveils Enhancements

Business Wire

New and Improved Plan Ensures Clients Pay Lowest Advisor Fee

LINCOLN, Neb.--(BUSINESS WIRE)-- Nebraska State Treasurer Don Stenberg and First National Bank of Omaha announced changes to the NEST 529 Advisor College Savings Plan, effective August 27, 2017, to simplify the Plan’s structure and reduce costs—just in time for September’s College Savings Month.

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“The NEST 529 Advisor Plan is recognized as one of the lowest cost, highest performing advisors plans in the nation,” said Treasurer Stenberg. “By implementing these changes, which include reducing the up-front sales load and overall expenses, the Plan could yield even stronger performance for account owners.”

The plan modifications include a convertible Class C share offering to help advisors address regulatory and industry changes. These enhancements make the NEST 529 Advisor Plan one of the only advisor-sold plans nationwide to provide this feature.

All Class C units purchased on or before August 18, 2012 will move to Class A on or about September 18, 2017. Future automatic conversions will occur approximately the 18^th day of every month, following the fifth anniversary of the purchase date. No fees or sales charges will be applied when units move from Class C to Class A. The changes support a simple share class decision on suitability and ensures that the client pays the lowest fee over their investment time horizon.

Additional changes include lowering the total asset-based fees for the majority of the Age-Based and Static Investment Options, reducing the Class A Up-Front Sales Load and raising of the Maximum Contribution Limit from $360,000 to $400,000. More details on these changes can be found here.

“Our mission is to support account owners and help maximize their college savings to meet their children’s higher education savings goals,” said Deborah Goodkin, Managing Director, Savings Plans, First National Bank of Omaha. “These changes will help our advisors nationwide to provide their clients with a low cost, simple solution to saving for college and ensure that account owners will pay the lowest available fees.”

About NEST Advisor College Savings Plan

The NEST Advisor College Savings Plan is a tax-advantaged 529 college savings plan and one of four plans in the Nebraska Educational Savings Plan Trust (NEST). The four NEST plans that help make saving for college simple and affordable are: the NEST Direct College Savings Plan, the NEST Advisor College Savings Plan, the TD Ameritrade 529 College Savings Plan, and the State Farm College Savings Plan. The Nebraska State Treasurer serves as Program Trustee. First National Bank of Omaha serves as Program Manager, and all investments are approved by the Nebraska Investment Council. Families nationwide are saving for college using Nebraska’s 529 College Savings Plans, which have more than 252,000 accounts, including 78,000 in Nebraska. Visit NEST529Advisor.com and treasurer.nebraska.gov for more information.

About First National Bank of Omaha

First National Bank of Omaha is a subsidiary of First National of Nebraska. First National of Nebraska is the largest privately owned banking company in the United States. First National and its affiliates have $20 billion in managed assets and 5,000 employee associates. Primary banking offices are located in Nebraska, Colorado, Illinois, Iowa, Kansas, South Dakota and Texas.

Investments Are Not FDIC Insured* - No Bank, State or Federal Guarantee - May Lose Value
*Except the Bank Savings Individual Investment Option