For more stories like this, sign up for the PLANSPONSOR NEWSDash daily newsletter.
Products April 7, 2003
North Carolina Tacks On Three 529 Options
April 7, 2003 (PLANSPONSOR.com) - The North Carolina
529 college savings plan has added three investment
options.
Reported by Fred Schneyer
According to an announcement, the advisor-sold National College Savings Program now includes these investment alternatives:
- MetLife Protected Stock Fund, which guarantees principal plus the greater of a minimum interest rate or 70% of the price return (excluding dividends) of the S&P 500 Index, following the subscription period and a five-year index period, through a funding agreement issued by MetLife to the program administrator.
- Seligman Aggressive Allocation, which offers the opportunity to allocate among four Seligman equity funds, including Seligman Communications and Information Fund.
- Seligman Income Option, which invests in Seligman Investment Grade Fixed Income Fund.
The program already offers 22 portfolios in the Seligman Advisors College Horizon Funds series, which use an enrollment-based asset allocation and risk management strategy to move toward historically less volatile asset classes as college draws near, according to the announcement.
Seligman Advisors will distribute the advisor-sold program to brokers and dealers nationwide, including MetLife’s broker-dealer affiliates – MetLife Securities, Inc., New England Securities Corp., Nathan & Lewis Securities, Inc. and Walnut Street Securities, Inc. For more information, see www.seligman529.com .