DES MOINES – State Treasurer Roby Smith announced new Enrollment-Based Portfolios for ISave 529 accounts to make it easier for families to choose their investment options. The new Enrollment-Based Portfolios replaced the Age-Based Savings Tracks previously used by the plan. The expanded flexibility and modernization will empower families to match their investment approach to their timeline. To add to the excitement, ISave 529 has also added two new individual portfolios tied to stock indexes for those who pursue a more hands-on approach to investing.
“This major update to ISave 529 investment portfolios will make it easier for families to design a plan that works best for them,” said State Treasurer Smith. “Whether you’re a beginner investor, intermediate or an expert one, these new options will empower investors to make individualized decisions for their student’s savings journey.”
Families who are currently enrolled in one of the Age-Based Savings Tracks, will not need to take any action. Their existing assets have automatically transitioned to one of the new Enrollment-Based Portfolios.
The new lineup of Enrollment-Based Portfolios will be offered in two-year increments when families are planning to make withdrawals (e.g., a student planning to attend school in 2040 or 2041 would select the 2040 Enrollment-Based Portfolio). Each Enrollment-Based Portfolio will let you select either an aggressive or moderate risk option.
The additions to the Individual Portfolios of the Large-Cap Stock Index and Small-Cap Stock Index will bring the total number of Individual Portfolios up to 14. Unlike Enrollment-Based Portfolios, the Individual Portfolios do not change automatically over time and can be a good option for those who prefer a personalized investment approach.
For more information on the changes to the ISave 529 investment options, visit ISave529.com/Invest.
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