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FOR IMMEDIATE RELEASE
July 9, 2007
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CONTACT
Don Aguirre
402-471-2456
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TREASURER OSBORN: COLLEGE SAVINGS HITS
$2 BILLION!
Lincoln, NE
- State Treasurer Shane Osborn is thrilled to announce that the Nebraska College Savings Program has
reached a historic milestone by surpassing $2 billion in total assets. Additionally, the College Savings
Plan of Nebraska – one of the four investment programs available to individuals – was recently recognized
in the September issue of Kiplinger’s Personal Finance as one of the Top 5 plans in the country while also
garnering an elite Top 3 ranking from Morningstar Investments.
“This is such an extraordinary achievement,” Osborn said. “To crest the $2 billion mark while also earning
national recognition for outstanding value and performance is a testament to the high and consistent level
of excellence from every single person involved with our program.”
Said Osborn: “I would also like to thank Governor Dave Heineman and State Senator Tim Gay for their leadership
and hard work in helping to get LB338 passed into law. Increasing the overall tax deduction has been a tremendous
benefit for our families and has helped make Nebraska one of the most competitive 529 Plans in the country.”
LB 338, which was supported by Treasurer Osborn, introduced by Senator Tim Gay, and signed by Governor Heineman
on May 29th, increased the amount of 529 Plan contributions eligible for a deduction from $500 to $2,500 for
households filing separate returns, and $1,000 to $5,000 for all other returns.
“That raise was significant,” Osborn said. “By our estimates, it will provide an additional $1 million in
deductions to Nebraska families every year.”
There are four different investment plans within Nebraska’s Educational Savings Plan Trust: The College
Savings Plan of Nebraska; The TD Ameritrade 529 College Savings Plan; The AIM College Savings Plan; and
the State Farm College Savings Plan. Treasurer Osborn serves as the Program Trustee, Union Bank and Trust Co.
serves as the Program Manager, and all investments are approved by the Nebraska Investment Council.
To learn more about Nebraska’s 529 Savings Plan and the benefits of tax-advantaged savings, please visit
www.Treasurer.org, or contact Rachel Rezabek, Director of Nebraska’s College Savings Program, at 471-2455.
Quick Glance:
- Total Number of Accounts: 152,682
- New Accounts Opened in 2007: 12,617
- Average Account Size: $12,869
- Total Contributions in 2007: $245,100,000
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