College Savings Iowa Expands Investment Options; Introduces 8 Individual Portfolios To Better Meet The Needs Of Participants.Business Editors DES MOINES, Iowa “Des Moines” redirects here. For other uses, see Des Moines (disambiguation). Des Moines (pronounced /dɪˈmɔɪn/ in English, & VALLEY FORGE Valley Forge, on the Schuylkill River, SE Pa., NW of Philadelphia. There, during the American Revolution, the main camp of the Continental Army was established (Dec., 1777–June, 1778) under the command of Gen. George Washington. , Pa.--(BUSINESS WIRE)--July 21, 2003 Treasurer of the State of Iowa, Michael Fitzgerald, and The Vanguard Group today announced that the College Savings Iowa(TM) 529 college savings plan has expanded its investment lineup A criminal investigation technique in which the police arrange a number of individuals in a row before a witness to a crime and ask the witness to identify which, if any, of the individuals committed the crime. from four to 12 options and has adjusted its existing age-based savings tracks to provide additional asset stability as a child nears college. Investors in the plan may now choose from eight individual portfolios and four age-based savings tracks. The new options will maintain the same 0.65% expense ratios as College Savings Iowa's existing portfolios and will become available on August 1, 2003. "We recently took a close look at our investment offerings based on the feedback we have received from investors and determined that we needed to offer a broader array of investments for those who desire the flexibility of managing their own investment strategy," said Michael Fitzgerald, Treasurer of the State of Iowa. "We believe the new individual portfolios, complemented by our enhanced age-based savings tracks, have created an improved, high value and compelling college savings program that meets the needs of virtually every investor." College Savings Iowa's eight individual options consist of the five underlying portfolios within the age-based tracks (Aggressive Growth Portfolio, Growth Portfolio, Moderate Growth Portfolio, Conservative Growth Portfolio, and Income Portfolio) plus three new portfolios -- Conservative Income Portfolio (80% bonds, 20% short-term securities), Bond Index Portfolio (100% bonds), and the Money Market Portfolio (100% short-term securities). College Savings Iowa's four age-based savings tracks, which automatically adjust an investor's asset allocation Asset Allocation The process of dividing a portfolio among major asset categories such as bonds, stocks or cash. The purpose of asset allocation is to reduce risk by diversifying the portfolio. to more conservative portfolios as a child nears college age, have been modified to be more clearly differentiated and to provide a new, more conservative track. For example, the plan's Track A now consists of a 100% equity allocation up to age 10 and proceeds to an 80% equities and 20% bonds allocation for ages 11 through 15. Previously, this track maintained a 100% equity allocation through age 15. Excluding the money market portfolios, all College Savings Iowa investment options follow an indexed approach, which provides diversification Diversification A risk management technique that mixes a wide variety of investments within a portfolio. It is designed to minimize the impact of any one security on overall portfolio performance. Notes: Diversification is possibly the greatest way to reduce the risk. and contributes to the portfolios' lower costs. "Vanguard is pleased to provide the expanded and enhanced investment offerings to College Savings Iowa participants," said John Heywood John Heywood (c.1497-c.1580) was an English writer known for his plays, poems, and collection of proverbs. He was born in or near London, but fled to Europe to avoid religious persecution for his Catholic faith and is believed to have died in Mechelen, Belgium. , Principal, The Vanguard Group. "College Savings Iowa has built a program for both sophisticated investors and those who prefer investing simplicity by having the plan implement their savings strategy, and we look forward to continuing to assist its participants in meeting their college savings goals." Cited earlier this year as one of the top 529 college savings plans in the nation by Kiplinger's Personal Finance Kiplinger's Personal Finance (KIP-lin-jerz) is a magazine that has been continuously published, on a monthly basis, from 1947 to the present day. It was the nation's first personal finance magazine, and prides itself on delivering "sound, unbiased advice in clear, and Money, College Savings Iowa was created in 1998 to help families save for the costs of a higher education higher education Study beyond the level of secondary education. Institutions of higher education include not only colleges and universities but also professional schools in such fields as law, theology, medicine, business, music, and art. . Since its inception, College Savings Iowa has grown to over $500 million in assets and more than 72,000 accounts nationwide, with participants residing in nearly all of the 50 states. Withdrawals from College Savings Iowa for qualified higher education expenses Qualified Higher Education Expense Expenses such as tuition and tuition related expenses that an individual, spouse, or child must pay to an eligible post-secondary institution. are free from federal income taxes and state income taxes for Iowa residents. Contributions to College Savings Iowa are invested in portfolios managed by The Vanguard Group. For more information on College Savings Iowa and the program enhancements, visit www.collegesavingsiowa.com or call (888) 446-6696. The Vanguard Group, headquartered in Valley Forge, Pennsylvania This article is about the Village of Valley Forge, in southeastern Pennsylvania. For other uses, see Valley Forge (disambiguation). The Village of Valley Forge is an unincorporated settlement located on the west side of Valley Forge National Historical Park at the , is the nation's second largest mutual fund firm and a leading provider of company sponsored retirement plan services. Vanguard serves some 17 million shareholder accounts and manages nearly $620 billion in U.S. mutual fund assets Fund assets The total value of a portfolio's securities, cash, and other holdings, minus any outstanding debts. , including more than $185 billion in participant-directed defined contribution retirement plans. Vanguard offers 112 funds to U.S. investors and 35 additional funds in foreign markets. EDITOR'S NOTE Editor's Note (foaled in 1993 in Kentucky) is an American thoroughbred Stallion racehorse. He was sired by 1992 U.S. Champion 2 YO Colt Forty Niner, who in turn was a son of Champion sire Mr. Prospector and out of the mare, Beware Of The Cat. Trained by D. : For a graphic on the eight individual portfolios and the adjusted age-based savings tracks, please contact Vanguard or College Savings Iowa. Vanguard(R) funds are offered by prospectus only. Prospectuses contain more complete information on risks, advisory fees, distribution charges, and other expenses and should be read carefully before you invest or send money. College Savings Iowa and the College Savings Iowa logo are trademarks of the State of Iowa. Vanguard is a trademark of The Vanguard Group, Inc. All other marks are the exclusive property of their respective owners. |
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