Utah Educational Savings Plan cuts fees
"Fees should not be a barrier to families saving for the higher education of their children. These adjustments are part of our ongoing effort to make college more attainable to families from all walks of life,"
The changes include:
* The number of age brackets in all predetermined and customized age-based investment options was increased to 10 brackets from seven to gradually smooth out the transitions between age brackets. With smaller equity step-downs between age brackets, an account should be less vulnerable to any sharp market fluctuations on the day it transitions to the next age bracket.
* The Age 19+ or College Enrolled age bracket was redesigned to remove the College Enrolled trigger from the age-based investment options. Previously, if an account owner withdrew funds to pay for the qualified higher education expenses of a high school student enrolled in a college class, the account was automatically moved to the Age 19+ or College Enrolled bracket. With the trigger removed, the age-based account remains in the bracket corresponding to the beneficiary's age and continues along the glide path designed for the account owner's investment option.
* The plan added the
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