Gov. Heineman and State Treasurer Ross Announce College Savings Plans Hit Billion Dollar Mark

Gov. Heineman said, “I was very pleased to oversee the development of Nebraska’s College Savings Plan during my years as State Treasurer, and I am thrilled to see Nebraskans taking advantage of this opportunity. Education is a top priority for my administration, and this is a valuable tool that helps students and families plan for the future.”

Created by LB 1003 in January 2001, the College Savings Plan of Nebraska consists of 32 investment options ranging from conservative to aggressive funds and portfolios, each of which have been approved by the Nebraska Investment Council. Enrollment in the plan qualifies families and individuals for a $1,000 deduction on their state income tax.

State Treasurer Ross said, “Reaching a billion dollars in assets is a significant milestone for Nebraska’s college savings plans. We look forward to continued success as more Nebraska families and others around the country take advantage of this sound investment opportunity.”

The College Savings Plan of Nebraska partners with the AIM College Savings Plan, the State Farm College Savings Plan and TD Waterhouse, an online brokerage firm. The partnerships benefit Nebraska’s 529 Plan by offering more options for those enrolled in the plan.

Gene Needles, president and CEO of AIM Distributors, Inc., said, “The state of Nebraska shares our commitment to providing high-quality investment solutions to meet college planning needs. We are pleased to be a partner with the state and look forward to working together to offer more Americans the gift of higher learning.”

Nebraska’s plans offer tax-free ways to save for higher education that maximizes the earnings potential for every dollar invested in the program. Union Bank and Trust Co. serves as program manager for the plan.

Angie Muhleisen, president and CEO of Union Bank and Trust, said, “The wide acceptance of this program illustrates the importance Nebraskans place on higher education, and we are honored to be a part of this nationally recognized program.”

Enrollment in the College Savings Plan of Nebraska is available online at www.PlanForCollegeNow.com or by calling (888) 993-3746. More information on partner plans is available from the Treasurer’s Office or by contacting a financial advisor.