By Rhonda Miller
PBN Staff Writer
BOSTON â€“ Fidelity Investments has reduced program-management fees from .15 percent down to .09 percent on some direct-sold 529 plans, according to a press release.
A 529 plans is a tax-advantaged savings programs operated by a state or state agency that can be used for tuition, books and other education-related expenses.
â€śParents are working hard to save for college and Fidelity is committed to providing college
savings plans that offer great value alongside trusted guidance, to help families reach their college goals,â€ť said Keith Bernhardt, vice president of college savings at Fidelity. â€śLowering our fees means that more of our customersâ€™ money can go directly toward their childrenâ€™s education.â€ť
The index portfolio fee reduction applies to all Fidelity-managed direct-sold plans including
The UNIQUE College Investing Plan, Fidelityâ€™s nationally distributed plan, offered by the state of New Hampshire; the Massachusetts U Fund College Investing Plan; the Delaware College
Investment Plan, and the Fidelity Arizona College Savings Plan.