elections of asset managers for state college savings plans continue to come at a fast a furious pace. They also continue to favor intermediary-sold products. The unit of Amvescap
will work with the Nebraska State Treasurer
and Union Bank and Trust Company of Nebraska
to distribute and market the 529 plan through the AIM
financial advisor network.
"We chose AIM for their marketing expertise, outstanding investment experience and national
reputation for outstanding customer service," said Dave Heineman
, Nebraska State Treasurer.
The Nebraska program marks AIM's first foray into the burgeoning 529 college savings plan market.
"Retirement and saving for college are arguably two of the biggest investment topics for individuals today," said Michael J. Cemo
, president of AIM Distributors, Inc., the retail marketing subsidiary of AIM. "The 529 plans are quickly becoming the best way to save for
college because of their generous contribution provisions and tax benefits."
AIM expects to start national distribution of the plan on or about November 1, 2001 in all 50 states. The Nebraska State Treasurer serves as trustee of the Plan, and Union Bank serves as the program manager.
The plan will offer investors four options -- three fixed portfolios (balanced, growth and aggressive growth) and one active allocation portfolio which varies its investment mix over time.
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