State officials and education leaders last week announced the enhancement of the CollegeBoundfund, a tax-advantaged state-sponsored 529 college savings program originally launched in 1998.
According to state officials, the enhanced fund will offer Rhode Island families greater flexibility than other existing 529 plans, with five investment portfolios including two age-based options, a low minimum investment, a high maximum contribution limit and lower fees than the previous plan. The new plan will be managed by Alliance Capital.
Rhode Island's Market Has Changed. Developers, Builders, Investors and Sellers Must Change With It.
By Emilio DiSpirito IV License Partner | Engel & Völkers Oceanside Leader | The DiSpirito…
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In compliance with a 1996 federal law, which allows states to develop 529 college savings plans, in 1997, the General Assembly passed, and Governor Lincoln Almond signed, legislation creating a Rhode Island program. The tax-deferred, state-sponsored 529 program was known as the Rhode Island Higher Education Savings Trust, or RIHEST. Since that time, the name and the management have changed.
