2017 has been a busy year so far for my office and College Savings Iowa. We’ve cut our administrative fees by 23%, increased the state tax deduction to $3,239*, and introduced IAble, our savings plan for persons with disabilities. Now, we are making the glide paths smoother for our College Savings Iowa savings tracks and adding a new underlying stable value investment option.
College Savings Iowa has four age-based savings tracks which include Aggressive Growth, Growth, Moderate Growth and Conservative Growth. More portfolios will be added to each of these savings track’s glide paths to provide a smoother transition from more aggressive to more conservative investments as your student nears college age.
If you are a College Savings Iowa account owner and are not invested in any of the age-based tracks, these changes will not affect you. However, participants who are invested in an age-based track may end up with more, less or the same amount of stock exposure.
If you wish to learn more about the changes coming to College Savings Iowa’s savings tracks and see if your investments may be changed, follow this link
to read our informational brochure.
These changes will be implemented from May 19 through May 22, and during this time, all online access and transactions as well as phone transactions will be unavailable. If you have specific questions about the glide path changes, please don’t hesitate to call our specialists at 844-398-6485 .
*Adjusted annually for inflation. If withdrawals are not qualified, the deductions must be added back to Iowa taxable income. The availability of tax or other benefits may be contingent on meeting other requirements.