New Mexico Education Trust Board, Albuquerque, is launching a new 529 tax-deferred plan to help workers save for higher education tuition and a new prepaid tuition program; it selected State Street Global Advisors as provider. The plans will be marketed to employers for their employees and will allow participants to tailor their investment strategies in the plan.
The age-based choice is an automatic investing track that cycles through a series of five diversified portfolios and has a specific asset-allocation target that changes as the beneficiary gets older. The custom choice allows participants to design their own investment strategies by mixing and matching any combination of eight investment portfolios.
