Financial Firms Form 529 Foundation

February 25, 2003 ( - Financial service providers have joined forces to organize a non-profit group focusing on building public awareness and providing public policy support for 529 college savings plans.

The Washington-based College Savings Foundation (CSF) said in a news media release its goals include the promotion, protection and the enhancement of 529 plans. To help accomplish these ambitions, the foundation said it plans to construct a database to serve as a source of analysis and background information on 529 plans, including prepaid tuition plans and other programs designed to help finance college tuition.

Founding members of CSF include representatives from:

  • AIM Investments
  • Fidelity Investments
  • Franklin Templeton
  • Manulife Financial
  • Merrill Lynch
  • Morgan Stanley
  • Strong Financial
  • T Rowe Price

Slated to serve as officers of the CSF will be Charles Toth of Merrill Lynch as the chair of the Board of Directors, Sarah Henriksen of Strong Financial as treasurer and Bill Raynor of AIM Investments as secretary.