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Utah Educational Savings Plan Cuts Key Fee Paid by College Savers

Utah Educational Savings Plan Cuts Key Fee Paid by College Savers

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  • Spring 2019
    • my529 launches new web portal for financial advisors
    • New reports can give you more insight into client my529 accounts
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    • Unused 529 funds? Here are your options
    • Advisor Access will be down for a short time on July 11
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  • July 2019
    • my529 lowers administrative fees for all investment options
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  • Fall 2019
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    • October my529 newsletter
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  • Spring 2020
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    • Additional forms now accepted via DocuSign
    • my529 reduces costs for account owners
    • Newsletter – October 2020
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  • Spring 2018
    • The Utah Educational Savings Plan is now my529
    • Use more than one back office service provider
    • my529 links to a new data integration company
    • Don’t waste an investment option change
    • Why my529? — A quick guide for your clients
  • Interim August 2018
    • my529 adds stable value fund as an underlying investment
    • my529 lowers Administrative Asset Fee again
    • my529 releases new Program Description
    • July Newsletter
  • Interim FAN 2018
    • UESP Withdrawals Can Be Used for K-12 Expenses under New Tax Law
    • UESP Is Changing Its Name
  • Fall 2018
    • Another win for Utah!
    • my529 to debut a new financial advisor web portal
    • Managing a my529 account just got easier
    • my529 links to Addepar for data integration
    • The 529 bridge — How college savings plans can help you reach the next generation of clients
    • A guide to withdrawing my529 funds
    • 2018 year-end deadlines
    • Newsletter – October 2018
  • Spring 2017
    • Why UESP? This Brochure Has Answers
    • Use DocuSign with Certain UESP Forms
    • Want to Talk Shop? Use UESP’s Online Meeting Scheduler
    • Privacy Policy, Business Continuity Plan Available
    • UESP Launches New Advisor Website
  • Fall 2017 FAN
  • Fall 2017
    • Morningstar, Kiplinger give UESP high marks
    • Increased Gift Tax Exclusion Is Good News for 529 College Savers
    • UESP Quarterly Statements Reflect July’s Glide Path Changes
    • UESP’s FDIC-Insured Investments May Surprise You
    • How to Make an Investment Option Change
    • An Explanation of UESP User Roles for Advisors
    • 2017 Year-End Deadlines
  • Summer 2017
    • UESP Rolls Out Changes to Age-Based Investment Options — Effective July 14, 2017
    • Go Digital, Tee Up New UESP Accounts for Clients Online

Please Read. This Is Important.

Do not invest with my529 until you read the Program Description.

If you are going to invest your money in a my529 account, we encourage you to learn how our college savings plan works. The Program Description explains the investment options, rules on contributions and withdrawals, tax benefits, fees, and risks. Your investment could lose value. Except for the FDIC-insured option, my529 investments aren’t guaranteed.

So take a look.

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Important Legal Notice

Investing is an important decision. Read the Program Description in its entirety for more information and consider all investment objectives, risks, charges, and expenses before investing. The Program Description is available for download here, or a printed copy can be mailed to you by requesting it online at info@my529.org.

Account Value. The value of your my529 account may vary depending on market conditions and the performance of the my529 investment option you select. It could be more or less than the amount you contribute. In short, your investment could lose value.

However, my529 offers some investments insured by the Federal Deposit Insurance Corporation (FDIC), which will guarantee that portion of your investment up to certain limits, as described below.

No Guarantees. Investments in my529 are not insured or guaranteed by my529, the Utah Board of Higher Education, the Utah Higher Education Assistance Authority or any other state or federal agency. Your investment could lose value. However, Federal Deposit Insurance Corporation (FDIC) insurance is provided for the FDIC-insured accounts. Please read the Program Description to learn about the FDIC-insured accounts. Units in my529 have not been registered with the United States Securities and Exchange Commission or with any state securities commission.

FDIC Insurance. Except as described in this paragraph, investments in my529 are not insured by the FDIC. However, my529 offers an FDIC-Insured investment option. In addition, my529 offers investment options that include FDIC-insured accounts as underlying investments. FDIC insurance, up to applicable limits, is provided for the FDIC-insured accounts held in trust by my529 at Sallie Mae Bank and U.S. Bank National Association (U.S. Bank) (collectively Banks). Contributions to and earnings on the FDIC-insured accounts are allocated between the Banks according to the following percentages: Sallie Mae Bank (90 percent) and U.S. Bank (10 percent). Money in the FDIC-insured accounts is insured by the FDIC on a pass-through basis to each account owner at each Bank up to the maximum amount set by federal law, which is $250,000 at each Bank. The amount of FDIC insurance provided to an account owner is based on the total of (1) the value of an account owner’s investment in the FDIC-insured accounts at each Bank plus (2) the value of other accounts (if any) owned by the account owner and held at each Bank, as determined by the Banks and by FDIC regulations.

Non-Utah Taxpayers and Residents. The state in which you or your beneficiary pay taxes or live may offer a 529 plan that provides state tax or other benefits, such as financial aid, scholarship funds, and protection from creditors, not otherwise available to you by investing in my529. You should consider such benefits, if any, before investing in my529.

Consult an advisor. my529 does not provide legal, financial, investment, or tax advice, and the information provided on this website does not contain legal, financial, investment, or tax advice and cannot be construed as such or relied upon for those purposes. You should consult your own tax or legal advisor to determine the effect of federal and state tax laws on your particular situation.

Morningstar rating. A Morningstar Analyst Rating for a 529 college savings plan is not a credit or risk rating. Analyst ratings are subjective in nature and should not be used as the sole basis for investment decisions. Morningstar does not represent its analyst ratings to be guarantees. Please visit Morningstar.com for more information about the analyst ratings, as well as other Morningstar ratings and fund rankings.

my529 does not pay commissions, loads, or sales charges to financial advisors, nor does it endorse financial advisors.

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