Oregon college savings board lifts barrier

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Friday, May 17, 2013

Oregon's college savings board decided to allow investors to set up accounts in both plans for the benefit of one person.

The $1.6 billion Oregon 529 College Savings Network offers investors the choice of investing on their own through the Oregon College Savings Plan or through an adviser in the MFS 529 Savings Plan. But IRS rules prevented account beneficiaries from receiving payouts from both plans, network executive director Michael Parker said.

The Oregon 529 College Savings Board approved changes to its rules and its contract with MFS Investment Management to allow the payouts to be combined before being distributed.

Read more at OregonLive.com.

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