Oregon 529 College Savings Board, Salem, today hired OppenheimerFunds as program manager for the nearly $260 million Oregon College Savings Plan. Oppenheimer replaces Strong Capital Management, which was terminated last November after Richard Strong, the manager's founder and former CEO, was criticized for market-timing the firm's own funds. Oppenheimer will offer its own funds as well as some Vanguard index funds as investment options. Plan fees will drop from 120 basis points under Strong to 70 to 99 basis points for the Oppenheimer funds, and 45 to 60 basis points for the Vanguard funds. The transition is expected to occur in midsummer.