First National Bank of Omaha and Nebraska State Treasurer Don Stenberg today announced the 2016 $100 Automatic Investment Plan (AIP) Bonus opportunity.
The first 100 NEST Direct Plan or NEST Advisor Plan account owners to either set up or increase their current monthly AIP amounts between November 1 and December 30 each receive a $100 bonus into their accounts. To be eligible, an account owner who starts an AIP must set up a $25 minimum monthly contribution; an account owner who is already contributing through AIP must increase the contribution amount by a minimum of $25.
AIP is a NEST feature that allows participants to set it and forget it by setting up automatic, recurring contributions directly from their personal checking or savings bank accounts. It can be established at the time of account opening or later by logging into the account.
“Saving for college is an important part of financial planning. Setting up automatic contributions can help in the process, and this is a great opportunity to reward our customers for taking these steps to save,” said State Treasurer Stenberg, Trustee of NEST. “We hope to demonstrate that adding as little as $25 more a month to your child’s 529 plan can yield benefits that will pay off in the long run. Even a small contribution made today can grow over time and help a family pay for college.”
“Saving for college requires continual attention, even when busy schedules and daily financial needs pile up, which is why the NEST College Savings team makes it a priority to reward account owners who increase their 529 savings,” said Deborah Goodkin, Managing Director, Savings Plans, First National Bank of Omaha. “Our goal with the $100 AIP Bonus Scholarship is to remind parents that contributing to their children’s 529 plans is extremely important for their college education and future beyond. Contributing monthly to a 529 plan is even easier if you set up an automatic contribution.”
The new or increased AIP contribution amount must be active on the account through December 30. Participation is open to residents of all 50 states and the District of Columbia who are account owners of a NEST Direct or NEST Advisor College Savings Account.
The expected date for the bonuses to be deposited into the first 100 participants’ accounts is January 31, 2017. The bonus will not be paid out in cash, but will be invested in each 529 account. The bonus is nontransferable and limited to one bonus per account owner.
NEST is a tax-advantaged 529 college savings plan and provides four plans to help make saving for college simple and affordable: NEST Direct College Savings Plan, the NEST Advisor College Savings Plan, the TD Ameritrade 529 College Savings Plan, and the State Farm College Savings Plan. The Nebraska State Treasurer serves as Program Trustee. First National Bank of Omaha serves as Program Manager, and all investments are approved by the Nebraska Investment Council. Families nationwide are saving for college using Nebraska’s 529 College Savings Plans, which have more than 254,000 accounts, including 79,000 in Nebraska. Visit NEST529.com and treasurer.nebraska.gov for more information.
About First National Bank of Omaha
First National Bank is a subsidiary of First National of Nebraska. First National of Nebraska is the largest privately owned banking company in the United States. First National and its affiliates have more than $21 billion in assets and 5,000 employee associates. Primary banking offices are located in Nebraska, Colorado, Illinois, Iowa, Kansas, South Dakota and Texas.