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Wednesday, December 05, 2007|
529s Add More Conservative Options
Conservative options are joining mutual funds in the investment menus of 529 plans, The Wall Street Journal's Jane Kim reported. The new options appearing on 529 lineups include savings accounts and certificates of deposit. Virginia, for example, is testing such a program, and the others, including Wisconsin and Missouri may be following suit. Some states already offer CDs as an investment option, but those plans offer CDs from only one bank. The new programs seek to make 529 plans more available at local bank branches, across a broader range of banks. Kim reported that other 529 providers are including more conservative options in an attempt to attract parents and grandparents who may want to shy away from the stock markets.
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