PFPC Expands 529 Recordkeeping Across State Lines

The 529 aggregation on a daily basis can accept and send 529 plan account information toand from any entity, and automate the aggregation of data for maximumcontribution limit calculations as well as earnings calculations onwithdrawals from the plan. The enhanced college savings plan technology alsoallows for comprehensive and timely reporting of the aggregation results, according to a news release.

PFPC accomplished this by creating a subsystem component for 529 aggregation through its Global Enterprise Platform.   It was designed to meet theneeds of states that now sponsor multiple distribution channels within theirplan mandates as a way to increase both distribution of plans and investmentoptions for state residents.