Nebraska State Treasurer John Murante today announced that the Nebraska sponsored TD Ameritrade 529 College Savings Plan is being rebranded to the Bloomwell 529 Education Savings Plan. The refreshed plan will remain part of the Nebraska Educational Savings Plan Trust (NEST) and continue to be administered by Treasurer Murante, as Trustee. Union Bank & Trust, the program manager for the Nebraska College Savings Program, will take the place of TD Ameritrade in marketing the plan.
The rebranding will take effect July 23, 2021, with a new website debuting the same day. The plan’s investment options will remain the same and no action will be required by account owners or advisors. After the rebranding, account owners will see reduced fees and benefit from the investment expertise of Wilshire Associates. The Nebraska Investment Council will continue to have oversight of the plan’s investments.
Account owners and advisors will be notified in advance of these changes. Until the rebranding occurs, account owners can continue to contribute to their TD Ameritrade 529 College Savings Plan accounts and update their account information; new accounts can also be opened.
“We are pleased to be able to offer participants a lower fee plan with the same investment options and plan features,” stated Treasurer Murante.
These changes will not affect the other three plans in the Nebraska Educational Savings Plan Trust – the NEST Direct College Savings Plan, the NEST Advisor College Savings Plan and the State Farm 529 Savings Plan.
“NEST 529 plans continue to be one of the best ways to save for future educational expenses,” said Jay Steinacher, Union Bank 529 College Savings Manager. “The potential tax benefits plus the quality fund families and investment options make this plan an attractive option for college savers nationwide.”
For more information, account owners should call 877-408-4644.
NEST provides four college savings plans to help make saving for higher education simple and affordable: NEST Direct College Savings Plan, NEST Advisor College Savings Plan, TD Ameritrade 529 College Savings Plan, and State Farm 529 Savings Plan. The Nebraska State Treasurer serves as Trustee. Union Bank & Trust 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 285,000 accounts.
Visit treasurer.nebraska.gov for more information.
About Union Bank & Trust
Union Bank & Trust Company is a $5.7 Billion bank headquartered in Lincoln, Nebraska with 34 locations in Nebraska and Kansas. Founded in 1917, nearly 50 years of family ownership has given Union Bank & Trust a consistent direction and long-term relationships with customers and employees. Voters have chosen Union Bank & Trust as Best Bank, Best Customer Service, and Best Work Environment in Lincoln for six years running.
Important Legal Information
An investor should consider the investment objectives, risks, and charges and expenses associated with municipal fund securities before investing. This and other important information is contained in the fund prospectuses and the TD Ameritrade 529 College Savings Plan Program Disclosure Statement (issuer’s official statement), which should be read carefully before investing. You can lose money by investing in an investment option. Each of the investment options involves investment risks, which are described in the Program Disclosure Statement.
An investor should consider, before investing, whether the investor’s or beneficiary’s home state offers any state tax or other state benefits such as financial aid, scholarship funds, and protection from creditors that are only available for investments in such state’s 529 plan. Investors should consult their tax advisor, attorney, and/or other advisor regarding their specific legal, investment, or tax situation.
TD Ameritrade is separate from and not affiliated with the Bloomwell 529 Education Savings Plan, NEST, the State of Nebraska, or Union Bank & Trust. TD Ameritrade is a trademark jointly owned by TD Ameritrade IP Company, Inc. and the Toronto-Dominion Bank. All rights reserved. Used with Permission.
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