he District of Columbia
's 529 College Savings Program has tapped Calvert
to manage the plan, a spokesperson with the firm told the MutualFundWire.com. The program will be available starting in late autumn.
"Calvert provides broad distribution capabilities through its nationwide network of wholesalers and financial professionals. Forming this partnership with Calvert will allow the District to reach and serve Americans all over the country," stated N. Anthony Calhoun, treasurer for the District of Columbia. The announcement was first made today at a press conference given by Anthony Williams, the city's mayor.
Investors in the district's 529 plan will be able to choose between individual funds and five aged-based portfolios. Both proprietary and non-proprietary funds will be offered; the details on this have not yet been worked out yet. Calvert currently provides two fund options for the Pennsylvania 529 plan. Nonetheless, this decision represents the first time Calvert will solely manage a 529.
The plan will be available across the nation. But Calvert will be focused on marketing efforts in the nation's capital as well. The firm's executives plan to advertise in local newspapers. They will also work to make appearances on local radio shows to promote the benefits of the 529 plan.
For more information about the service, you can follow this link
Stay ahead of the news ... Sign up for our email alerts now