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ScholarShare 529 Plan Enhancements Coming in February 2022
Dear Account Owner,
ScholarShare 529 is making some valuable changes to the plan that will directly impact your account, and in February 2022, you will receive an updated Plan Description detailing them.
In advance of receiving the new Plan Description, we wanted to let you know certain Portfolios will be merged into other existing Portfolios, effective February 11, 2022.
Which Portfolios are being merged?
If you are an Account Owner invested in one of the Portfolios in the left-hand column, your investment will automatically move to the corresponding Portfolio in the right-hand column on February 11, 2022.
|Active Moderate Growth Portfolio||Will merge into||Active Growth Portfolio|
|Active Diversified Fixed Income Portfolio||Will merge into||Active Conservative Portfolio|
|Passive Moderate Growth Portfolio||Will merge into||Passive Growth Portfolio|
|Passive Diversified Fixed Income Portfolio||Will merge into||Passive Conservative Portfolio|
|Index U.S. Large Cap Equity Portfolio||Will merge into||Index U.S. Equity Portfolio|
What do I need to do?
Nothing! Any automatic contributions, payroll contributions, or systematic exchanges will be updated automatically. Also, this change will not count towards your twice-per-calendar-year limit on investment exchanges.
What if I prefer my funds be moved to a different Portfolio?
You can select a different Portfolio at any time subject to the twice-per-calendar-year limit on investment exchanges.
Why are these changes happening?
After reviewing the plan, the ScholarShare Investment Board approved a recommendation to streamline the number of Investment Portfolios in order to maintain a clear and distinctive offering that can best serve account owners.
What other changes are happening?
On February 11, 2022, average ScholarShare 529 costs will be lowered with the introduction of new underlying funds to the existing Investment Option lineup.
New Environmental, Social, and Governance (ESG) Options
A new Year of Enrollment option, consisting of ESG funds, as well as static ESG portfolios, will be introduced to the investment lineup. These options will enable you to incorporate socially conscious principles into your college savings strategy.
Social Choice Portfolio
The Social Choice Portfolio will be renamed Social Choice Equity Portfolio to differentiate it from other ESG options being added.
What should I do if I have questions?
Please call the Plan at 1-800-544-5248.
Thank you for your continued interest in ScholarShare 529!