Fee drops for my529’s stable value fund
Since my529 added the PIMCO Interest Income Fund to its investment line-up in August 2018, the stable value offering has become popular with advisors.
Over the year, stable value fund assets have grown, resulting in a cost reduction of nearly 8%. The PIMCO Interest Income Fund currently has an investment management fee of 0.119 percent, or $1.19 per $1,000 invested.
If you are interested in using this fund in your clients’ customized accounts, or in switching to predetermined age-based options that contain the fund, my529 makes it easy to make changes to the accounts you manage.
Option Changes Made Easy. The New Bulk Option Change function in the my529 advisor portal facilitates such changes. You can change all or many of the accounts at the same time. For example, you can change investment options or allocations for all of a client’s accounts or as many as you select. Here is a tutorial on bulk option changes.
Limits on Investment Option Changes. The IRS allows two investment option changes for 529 accounts per calendar year. If your clients have multiple accounts for the same beneficiary, you can change options in two or more accounts and have it count as only one of the two allotted changes if it is performed at the same time.
Also, as a reminder, when you create a Customized Age-Based or Static option for a client, you can save it as a template to use with other clients.
Contact our team at 888.529.1886 or visit advisor.my529.org to learn more about investment option changes and the PIMCO Interest Income Fund.
my529 has added the PIMCO Interest Income fund, a stable value fund, as an underlying investment to all predetermined Age-Based investment options.