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TMCNet:  District's 529 College Savings Plan Reaches $250 Million in Assets Under Management

[February 07, 2013]

District's 529 College Savings Plan Reaches $250 Million in Assets Under Management

BETHESDA, Md. --(Business Wire)--

Calvert, one of the largest financial services firms in the Washington D.C. area, announced today that the District of Columbia's 529 College Savings Plan has reached $250 million in assets under management. Over 14,000 investors - D.C. residents and non - residents - have their savings with the DC College Savings Plan.

This milestone marks the commitment that parents and grandparents have made to their children's education, and is a major accomplishment for a jurisdiction as small as the District of Columbia.

"We are delighted that the DC College Savings Plan now has $250 million in assets. With today's financial challenges, it is important that families are saving more for higher education," said Jeffrey Barnette, District of Columbia Deputy Chief Financial Officer and Treasurer. "We were able to reach this goal with a strong partnership with Calvert Investments. Calvert has provided highly effective marketing and community outreach to every ward in the city."

One key aspect of the Plan's community outreach has been its partnership with the D.C. College Access Program (DC-CAP). Together with DC-CAP, the DC College Savings Plan offers $44,000 annually in college scholarships to District public school students in all eight wards of Washington, D.C.

The DC College Savings Plan, launched in November of 2002, is the only 529 plan in the nation that offers investors a full range of sustainable and responsible investments. To learn more about the plan, visit DC529.com.

"Starting a college savings plan sends a powerful message to your children: that you believe in their future," said Laurent Ross, Calvert Investments' College Savings Plan Manager. Th DC College Savings Plan has attracted nationwide focus by ranking in the top five performing advisor-sold 529 plans for 1-year and 3-year performance, as well as the top 10 in 5-year performance, throughout 2012, as rated by Savingforcollege.com.

The DC College Savings Plan allows parents, grandparents and others to save for college tuition on a tax-deferred basis. The Plan offers individual fund investment options as well as a series of five separate age-based investment options, ranging from aggressive to conservative choices. For more information on the Plan details, go to www.dc529.com or call Calvert at 800.987.4859.

Savingforcollege.com's 529 Performance Ranking Methodology

Savingforcollege.com's 529 Performance Ranking Methodology
Asset Allocation Category Rankings: First, portfolios from all direct-sold and advisor-sold 529 plans are assigned to a specific asset-allocation category. SFC utilizes seven (7) asset-allocation categories in the rankings. Then, within each category, portfolios are compared and ranked based on published investment returns. Composite 529 Plan Performance Rankings: An overall (or "composite") performance score is calculated for each 529 plan for a given performance period based on the plan's performance rankings for each asset allocation category as described above. To calculate the composite ranking for the plans, SFC recomputes the asset allocation category rankings based on a standard normal distribution of the returns included within each category. Rankings are based on investment performance as of September 30, 2012. Past performance is no guarantee of future results. For more information on SFC ranking methodology, go to http://www.savingforcollege.com/529-plan-composite-rankings/file/white_paper.pdf.

For more information on the DC College Savings Plan, please contact your financial advisor or call 800.987.4859 (800.368.2745 for non-District residents). An investor should consider the investment objectives, risks, charges, and expenses of an investment carefully before investing. The District of Columbia College Savings Trust Program Disclosure Booklet contains this and other information. Read it carefully before you invest or send money.

An investor should also consider, before investing, whether the investor's or designated beneficiary's home state offers any state tax or other benefits that are only available to residents of that state. An investment in another state's 529 college savings plan may not offer comparable benefits.

The Government of the District of Columbia does not guarantee investments in the program. Investment involves risk, including possible loss of principal.

The DC College Savings Plan is underwritten and distributed by Calvert Investment Distributors Inc., member FINRA/SIPC and a subsidiary of Calvert Investments, Inc.


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