Achieve Montana, the official 529 plan for the state, is pleased to announce several changes designed to help Montana families save for the future education of their children. These changes lower fees, updated age-based investing options, two new investment portfolios and more.
As the official 529 plan for Montana, Achieve Montana strives to make saving for higher education simple. With that in mind, Achieve Montana is pleased to announce several changes which will lower fees, increase portfolio options and more. The improvements are designed to help you set up and maintain a 529 account as an affordable and effective way to save for the future education of your children.
First, the age-based investment options now feature seven different portfolios, two more than previously. The portfolios have also been transitioned away from age-based options and into year-of-enrollment investment options. These feature lower fees and a more gradual shift in the asset allocation away from stocks. In other words, the portfolio will automatically re-balance the asset mix to be more conservative as your child nears their higher education enrollment date, helping to preserve the assets in the fund.
As for the fees, they have been reduced significantly and include reductions in the underlying fund expenses as well as the service fee and state administrative fee. It’s an overall decrease of up to 29%!
These are certainly challenging times in our country and state. Achieve Montana is here to remind you that no matter how hectic today is, tomorrow will be here eventually, and if you commit to saving for your child’s education now, you can help ensure a solid future. Remember, time is on your side. You will have years before you will need to access the savings account for your child’s education.
Achieve Montana has the expertise and resources to help make saving simple. All the details about these improvements can be found at AchieveMontana.com or you can call 1-877-486-9271 for more information. Remember, Achieve Montana is here to help you achieve your savings goals.
Here at Achieve Montana, the official 529 plan for Montana, we spend a lot of time encouraging parents to start financial planning for their child’s future education. It’s an important topic and we want to make it easy for Montanans to save and to help minimize or even eliminate potential student debt.
Parents, grandparents and others can use an Achieve Montana 529 plan as an affordable, simple and effective way to save for the future education of their children, grandchildren, nieces and nephews. The accounts have generous contribution limits and a range of attractive investment options. Investments have immediate tax benefits, and accounts can be opened with as little as $25.
You can also visit AchieveMontana.com or call 1-877-486-9271 to learn more about 529 plans and how their investment options are designed for tax benefits now and college savings for the future.
Ronald Muffick is Director of Operations and Administration for the Montana University System Office of the Commissioner of Higher Education.
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