CARSON CITY, Nev.--(BUSINESS WIRE)--As a follow-up on the original launch announcement, Nevada State Treasurer Kate Marshall and the Board of Trustees of the College Savings Plans of Nevada have selected Putnam Investments as the exclusive manager for the state’s advisor-sold 529 College Savings Plan, effective in March, 2011. All assets in the existing plan, which totaled $120 million as of November 30, 2010, will be transferred to the Putnam 529 for AmericaSM plan.
The Putnam 529 for America plan was launched on October 1, 2010 and is available nationwide to Americans saving for college. The plan currently offers a number of appealing features, including no annual maintenance, program manager, or enrollment fees, the ability to waive sales charges for certain types of clients and plan rollovers and is an innovative, diversified, and competitively priced product. It is the only 529 plan to offer a full suite of absolute return strategies.
“As administrator of the Nevada College Savings Plans program, my office has been extremely pleased with how Putnam’s plan has shown real innovation in product and pricing design, along with a commitment to providing educational resources to support the advisor community and the families they serve, “ Marshall said “In addition, Putnam’s demonstrated leadership, extensive 529 administration experience, award-winning service, distribution capabilities, and competitive cost structure make Putnam an outstanding choice to serve as exclusive manager of Nevada’s advisor-sold 529 college savings plan.”
“We are pleased, and proud, to have the opportunity to serve as Nevada’s exclusive advisor-sold 529 plan provider, building on an already successful partnership” said Robert L. Reynolds, president and chief executive officer, Putnam Investments. “We appreciate the Nevada State Treasurer’s Office confidence in our investment, program management, and client service capabilities. Together, we have brought the market what we believe is the nation’s best, most innovative, and most investor-friendly 529 program.”
In addition to the advisor-sold Putnam 529 for America plan, the State of Nevada, through the Treasurer’s Office, currently offers several direct-sold plans: The Upromise College Fund 529 Plan, The Vanguard 529 College Savings Plan, and USAA College Savings Plan.
For more information about how you can begin to “Save for College, One Step at a Time,” go to nevadatreasurer.gov or call (702) 486-2025 or 1-888-477-2667 (toll free). For more information about Putnam 529 for America, call 877-788-6265 (toll free) or go to putnam.com.