hough not all of the formal documents have been signed, it is clear that Delaware Investments
has won the state of Hawaii's 529 program. The win marks Delaware's entry into the business and leaves just a handful of states, including Texas and Georgia without a plan.
A Delaware spokesperson declined to comment for this story. However, the firm apparently won the business a couple months ago. Delaware, a unit of Lincoln Financial, will operate the plan with First Bank of Hawaii
Like many plans, Hawaii's will be marketed nationally and will be available to non-residents. Presumably, First Bank of Hawaii will handle marketing of the program in the Aloha state while Delaware takes the rest of the country, posited Joseph Hurley
, founder of SavingForCollege.com, a Website focusing on 529 plans.
Hurley said there are still a few opportunities left. Georgia has just started its 529 RFP process and Indiana is one of the states going through a review of its current program.
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