Strong Capital Management, Menomonee Falls, Wis., is hoping to help out one family that could have the biggest concurrent college tuition bill in history.
Strong has pledged to set up education IRAs for the world's first surviving septuplets, born last month to Bobbi and Kenny McCaughey of Carlisle, Iowa. To be fair, Strong will provide the same gift to the septuplets' 2-year-old sister, Mikayla.
Strong will open the IRAs Jan. 1, when the new education IRAs become available. The money manager will donate $500 per year per child for five years, the maximum amount allowed by the new law. The IRAs, will, of course, be invested in Strong investment vehicles at the discretion of Mr. and Mrs. McCaughey, who could face college bills of more than $1 million for their brood.