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Common Misconceptions About 529 Plans


Common Misconceptions About 529 Plans
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A college education is often one of the biggest investments a family will ever make, but awareness and misconceptions about 529 plans can hold them back from saving for education costs.
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529 plans allow families and individuals to set aside money for educational expenses in a tax-advantaged account. But prospective students and their families may not realize the option even exists.
You have to be aware of a program in order to use it, Theodore Miller, executive director of the New Mexico Education Trust Board, wrote in an email. Surveys indicate that only about 30% of families nationwide are aware of what a 529 plan is, and especially what it does. ....

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New Mexico Education Trust seeks investment consultant


New Mexico Education Trust seeks investment consultant
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New Mexico Education Trust Board, Santa Fe, is searching for an investment consultant for the New Mexico 529 College Savings Program.
The board issued an RFP due to the impending expiration of the contract of current consultant Meketa Investment Group, said Vera Lyons, procurement manager. The firm is eligible to rebid, she said.
Ascensus is the current program manager.
The program consists of two 529 college savings plans: the $1.9 billion adviser-sold Scholar s Edge Plan and the $643 million direct-sold Education Plan.
The RFP is available on the board s website. Proposals are due at 5 p.m. MDT on April 14. The board has set a tentative contract award date of June 4. ....

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