Indiana Education Savings Authority, Indianapolis, hired One Group Administrative Services to administer the states $31.2 million 529 college investment program. One Group Administrative Services is a subsidiary of Bank One Corp.; the plan had been administered by another Bank One unit, Bank One Indiana. Bank One Asset Management remains the plans investment manager.
The program offers five age-based options that cover the full risk spectrum, from conservative to aggressive. The state may add more investment options next year and may add other money managers to the mix, said Julie Crothers, a Banc One spokeswoman.