Putnam Beefs Up Ohio's 529 Plan

May 1, 2003 (PLANSPONSOR.com) - Investors in the Putnam College Advantage, the state of Ohio's 529 savings plan, will soon have two new investment options and a new approach to setting aside money for higher education.

According to an announcement by Putnam Investments and the Ohio Tuition Trust Authority, the 529 plan will add the following options as of May 16:

  • George Putnam Fund of Boston Option seeks its dual objectives of capital growth and current income
  • Putnam Equity Income Fund Option employs Putnam’s value strategy.

The George Putnam Fund of Boston Option and the Putnam Equity Income Option will be sold at standard Putnam prices and will be available in Class A (initial sales charge), B (deferred sales charge) and C (level load) shares.  O shares will be available in Ohio.

At the same time, the plan will make available a dollar-cost-averaging feature through systematic reallocations within CollegeAdvantage. Dollar-cost-averaging is investing a set amount of money at regular intervals so that the average cost of shares is not higher than the long-term average price of an investment.  

The Ohio Tuition Trust Authority launched the CollegeAdvantage 529 Savings Plan in October 2000.   For more information, go to  www.collegeadvantage.com .