Products April 5, 2003
PIMCO Jumps into 529 Fray
May 16, 2002 (PLANSPONSOR.com) - The market for 529
college savings programs continues to be hot with the
launching of a plan from PIMCO Fund Distributors
LLC.
Reported by Fred Schneyer
In a press release announcing the rollout of its CollegeAccess 529, PIMCO said the program offers 26 investment options from a multi-manager platform. The options include:
- five age-based portfolios,
- five customized portfolios, and
- 16 single mutual funds
The plan, sponsored by the State of South Dakota, offers PIMCO fixed-income investments as well as equity options from American Funds, MFS Investment Management, and Franklin Templeton Investments.
According to a news release from the company, CollegeAccess 529 features include:
- asset allocation recommendations by Ibbotson,
- a $305,000 contribution limit,
- educational and training from an affiliate of Savingforcollege.com, and
- joint account capability