Richmond, Va., Feb. 03, 2022 (GLOBE NEWSWIRE) -- As the largest 529 plan in the country, Virginia529 is committed to distinguishing itself from other plans with best-in-class investment options and a thoughtful investment philosophy. That’s why for the second time in three years, the administrative fee for its highly rated Invest529 program has been lowered.
The cut, which reduces administrative fees for all Invest529 customers by 46 percent, is effective as of January 1, 2022. The reduction could potentially save customers millions of dollars, helping families accrue additional investment returns toward their education savings.
“Making education more affordable is at the heart of our mission,” said Virginia529 CEO Mary Morris. “This reduction reflects our continuous efforts to maintain one of the lowest 529 fee structures in the country and to offer the best chance for our families to meet their savings goals.”
In 2021, Virginia529 surpassed $100 billion in assets under management, making it the first in the industry to reach this milestone. The plan, which has more than three million accounts across its national direct-sold and advisor-sold 529 savings programs, also experienced record education savings numbers last year.
Invest529 offers more than 20 investment options, including seven that evolve to more conservative investments as a student's anticipated high school graduation date approaches.
The program is open to legal residents of any U.S. state and can be used at eligible educational institutions around the world. The minimum initial deposit is $10.
Learn more about Invest529 and open an account at Virginia529.com/invest.
