LINCOLN – There have been some changes made for the Nebraska Educational Savings Trust 529 (NEST 529). All accounts will run through Union Bank and Trust (UBT). This was automatically done for current account holders.
Added benefits with this change include lower fees. There are no annual account fees or set up fees. Program management fees are being reduced by 68 percent.
Additional Age-Based Investment Options have been added to the NEST Direct Plan, along with modified asset allocations of the existing Age-Based and Static Investment Options.
The new NEST Direct Plan will continue to provide tax perks. This includes Nebraska state tax deductions.
Morningstar, an investment research firm, rated the NEST 529 savings plan with a Bronze rating. This means the NEST 529 Direct Plan is a best-in-class-offering.
In 2021, the Meadowlark Program takes effect. This ensures that any Nebraska resident baby born on or after January 1, 2020, be automatically approved for a NEST account.
NEST is a tax-advantage 529 created to make saving for college easier. Visit NEST529.com, to learn more about these and other benefits associated with opening a NEST 529 account.