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The Markets January 13, 2011
Indiana 529 Plan Adds CDs
The Certificate of Deposit (CD) Savings Plan is the newest addition to Indiana’s CollegeChoice 529 Plan, which already includes Direct Savings Plan and Advisor Savings Plan options.
Reported by Nicole Bliman
State Treasurer Richard Mourdock, Chairman of the Indiana Education Savings Authority, announced that College Savings Bank has been selected as program manager for the CD Savings Plan. The State expects the new CollegeChoice 529 CD Savings Plan to be unveiled by March 1, 2011, according to a news release.
The CollegeChoice 529 CD Savings Plan will allow Hoosiers to open, fund, and manage a college savings account at local participating banks. “The CD Savings Plan is a welcome addition to CollegeChoice, and a great complement to our Direct Savings Plan and Advisor Savings Plan,” said Mourdock. “The CD Plan establishes a new distribution channel for CollegeChoice, retail banks, and expands our offering to include FDIC-insured certificates of deposit from College Savings Bank.”
The CollegeChoice 529 CD Savings Plan will include three FDIC-insured savings options: the CollegeSure CD, the InvestorSure CD and a series of traditional Fixed Rate CDs.