The NEST Direct College Savings Plan, NEST Advisor College Savings Plan and TD Ameritrade 529 College Savings Plan will remove the PIMCO Total Return Fund from their investment options, effective February 6, 2015, announced Deborah Goodkin, Managing Director, College Savings Plans, First National Bank of Omaha. This change does not impact accounts in the State Farm College Savings Plan.
At its meeting on November 17, 2014, the Nebraska Investment Council voted to remove the PIMCO Total Return Fund (PTTRX) and replace it with the MetWest Total Return Bond Plan Fund (MWTSX) in each Plan’s Age-Based and Static Investment Option portfolios and as an Individual Investment Option. This change, effective February 6, 2015, is the result of extensive research conducted by the staff of the Nebraska Investment Council and its external investment consultant.
“The change was approved after careful consideration of the PIMCO organization, the availability of high performing funds with a similar or reduced cost, and a desire to ensure we offer investments that provide our account owners and financial advisors with the confidence needed to entrust investments in our Plan,” said Goodkin.
Account owners will be notified of this change in their Q4 2014 statements.
About First National Bank of Omaha
First National Bank of Omaha is a subsidiary of First National of Nebraska. First National of Nebraska 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.
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 261,000 accounts, including 84,000 in Nebraska. Visit NEST529.com and treasurer.nebraska.gov for more information.