Beginning this fall, in addition to the investment options offered by the MFESP
program manager, College Savings Bank, the MFESP will offer new investment options
comprised of investments managed by Vanguard.
As part of this exciting change to the MFESP, account information and assets within the Pacific Life Funds' investment options will be automatically transferred to the Bank Plan and/or the Investment Plan (see below). Investment Plan portfolios will have annual asset-based fees ranging from 0.83%-0.99% (depending on which investments you choose), which includes the Vanguard fees and expenses set forth in the respective prospectuses at the links that follow. In addition, the annual account maintenance fee of $25 will continue to be waived for account owners who are Montana residents and for account owners who use AIP, take advantage of payroll deduction through their employer, or who maintain an account balance of at least $25,000.
The new investments include:
- Vanguard LifeStrategy (LS) Growth Portfolio
-
- LifeStrategy (LS) Moderate Growth Portfolio
-
- Vanguard LifeStrategy (LS) Conservative Growth Portfolio
-
- Vanguard Total Stock Market Index Portfolio
-
- Vanguard Total International Index Portfolio
The new investment options will be offered directly to investors. This means that you
will not need to work with an investment professional to maintain your account,
select new investment options, make additional contributions, take withdrawals or open additional accounts. However, we always encourage you to consult with your financial advisor to discuss your options.
The MFESP will continue to offer the CollegeSure® CD, InvestorSure® CD and Fixed Rate CDs
through College Savings Bank.
Inside the following Transition Newsletter you'll find exciting news on the changes within the Montana Family Education Savings Program, including information on the new Investment Plan.
Additional Information
Important Changes to the Montana 529 Plan
Recent Customer Communications
Contact Information for Account Holders and Brokers
New MFESP Account Enrollment
Transition FAQs
Important Changes to the Montana 529 Plan
The Montana Board of Regents, as Trustee for the MFESP has determined how assets
currently held in Pacific Life Funds investments will be mapped to the new plan options consisting of investments managed by Vanguard.
The investment mapping is as follows:
| CURRENT MFESP INVESTMENT OPTION |
|
NEW MFESP INVESTMENT OPTION |
| PL Portfolio Optimization Aggressive Fund |
 |
Vanguard LifeStrategy (LS) Growth Portfolio |
| PL Portfolio Optimization Moderate Aggressive Fund |
|
Blend of Vanguard LifeStrategy (LS) Moderate Growth and Vanguard Life
Strategy (LS) Growth Portfolio |
| PL Portfolio Optimization Moderate Fund |
|
Vanguard LifeStrategy (LS) Moderate Growth Portfolio |
| PL Portfolio Optimization Moderate- Conservative Fund |
|
Vanguard LifeStrategy (LS) Conservative Growth Portfolio |
| PL Portfolio Optimization Conservative Fund |
|
CSB Savings Account |
| PL Money Market Fund |
|
CSB Savings Account |
Recent Customer Communications
August 20, 2010- The Montana Family Education Savings Program Letter to College Savings Bank Savings Account Holders Formerly with Pacific Life Funds
August 1, 2010- The Montana Board of Regents, as Trustee for the MFESP
has selected investments from The Vanguard Group to replace those investments
previously offered by Pacific Life Funds
January 29, 2010- The MFESP announces the departure of Pacific Life
Funds from the Montana Family Education Savings Program
October 31, 2010- Inside the following Transition Newsletter you'll find exciting news on the changes within the Montana Family Education Savings Program, including information on the new Investment Plan
December 30, 2010- The MFESP announces new plan and new partnership