July 28, 2011
UESP Lowers Fees and Adds New Investment Offering
The Utah Educational Savings Plan (UESP) today announces the reduction of its annual Administrative Asset Fee and introduces a new Customized Age-Based investment offering. UESP is again setting a standard for the 529 plan industry.
UESP is dropping its already low fees even lower. Effective August 1, 2011, UESP will lower its annual Administrative Asset Fee from 0.22% to 0.20%, a 9.1% reduction for nine of its twelve investment options. The other three investment options already have fees below 0.20%. This drop, coupled with other underlying fee reductions, drives the annual asset-weighted total fee down to 0.24%, which is among the lowest in the country.
“UESP works hard to keep fees low so account owners can keep more funds in their college savings accounts,” says Lynne Ward, executive director of the Utah Educational Savings Plan. “As a direct-sold, nonprofit 529 college savings program, the Utah Educational Savings Plan is dedicated to one purpose—helping families save for college.”
In addition, today UESP introduces the Customized Age-Based investment option, an innovative approach to college savings. The new investment option allows a UESP account owner to design their own investment glide path using the available UESP underlying investments. When the beneficiary qualifies for the next preset age bracket, the investment money will automatically reallocate according to the account owner’s customized allocation. The Customized Age-Based allocation can only be established as an account’s investment option online at uesp.org.
Ward says, “UESP has investment-savvy account owners who prefer to choose their own investment strategy to meet their higher education savings goals. The new Customized Age-Based investment option will allow these account owners to do just that.”
For more information about the Utah Educational Savings Plan, visit uesp.org, call UESP at 800.418.2551 or e-mail email@example.com.
About the Utah Educational Savings Plan
UESP, Utah’s official nonprofit 529 plan, manages more than $4.2 billion in assets, is consistently ranked among the nation’s top 529 plans, and is highly recommended by Money magazine, CBSMoneyWatch.com and financial expert Clark Howard. These high rankings can be attributed to UESP’s industry innovations, such as an FDIC-insured savings account, customized allocation investment options, and efforts to be the industry’s low-cost leader.
UESP requires no minimum deposits or balances to open an account, so families can save a little or a lot according to their own schedules. With a user-friendly website, uesp.org, UESP makes it easy to open, manage and contribute to an account online. Earnings on UESP accounts grow tax deferred and are federal and Utah state income tax free when used for qualified higher education expenses such as tuition and fees, certain room and board costs, and required books and supplies at any eligible educational institution that participates in federal financial aid programs for students, not just institutions in Utah.
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Read the Program Description for more information and consider all risks, objectives, charges and expenses before investing. Call 800.418.2551 for a copy of the Program Description or visit uesp.org.
Investments in UESP are not guaranteed by UESP, the Utah State Board of Regents, the Utah Higher Education Assistance Authority (UHEAA) or any other state or federal agency. However, Federal Deposit Insurance Corporation (FDIC) insurance is provided for the FDIC-insured savings account. Please read the Program Description to learn about UESP’s FDIC-insured savings account. Your investment could lose value.
Non-Utah taxpayers and residents: You should determine whether the state in which you or your beneficiary pay taxes or live offers a 529 plan that provides state tax or other benefits not otherwise available to you by investing in UESP. You should consider such state tax treatment and benefits, if any, before investing in UESP.
To download a pdf of this news release, click here.Posted by: psilberman