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Monday, June 10, 2002

529 Blackjack

by: Tony Pennino

The State of Nevada is offering a new nationwide 529 plan. It is receiving support from USAA Investment Management Company and Strong Capital Management, a spokesperson with the latter told the MutualFundWire.com.

Strong serves as the program manager for the plan. This is the sixth state for which it has taken on this role. The firm already offers two other 529 plans through Nevada. One, a no-load plan, is strictly a Strong. The other is offered through financial advisors; for that, Strong has entered into an alliance with American Skandia.

USAA principally serves the military community. And this new plan is specifically designed for the military.

Investors will have a choice of investment strategies from USAA and Strong: Aggressive Growth, Growth, Moderate, Balanced, Conservative, or In-College portfolios. 

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