Utah Educational Savings Plan, Salt Lake City, added 12 underlying investment funds to its customized options, confirmed Diane Johnson, outreach manager for the 529 plan.
The $5.9 billion plan added six Vanguard funds and six Dimensional Fund Advisors funds. It previously had only nine Vanguard options and an FDIC-insured savings account.
The 529 plan lineup has four age-based options; eight static options, which do not shift allocations like age-based options; and two customized options, in which participants can customize their own age-based or static option with the underlying funds.
The new Vanguard funds, all index funds, are U.S. large-cap growth and value equity, U.S. small-cap growth and value equity, emerging markets equity and short-term bonds.
The Dimensional fund options, all active, are global equity, U.S. large-cap value and U.S. small-cap value equity, real estate securities, international value equity and one-year fixed income.
The 529 plan also added two static options, bringing the total to eight. The new options are a 70% equity/30% fixed-income option and a 20% equity/80% fixed-income split.
Separately, the plan is reducing its administrative asset fee on all age-based and five of the six static options by an average of 10% to a range between 0.14% and 0.18%. The two new static options will have a 0.18% fee as well.
