IMPORTANT INFORMATION REGARDING 529 PLAN CHANGES
After thoughtful consideration, Pacific Life Funds (PLF) has determined that it will not renew
its participation in the Montana Family Education Savings Program (MFESP), which is set
to expire at the beginning of June 2011. At the same time, they remain committed to their
role under the MFESP and plan to honor the contract through its term.
Please be advised that the MFESP will still be offering CDs from College Savings
Bank, including the CollegeSure CD, the InvestorSure CD and College Savings Bank's Fixed
Rate CDs. All products and accounts from College Savings Bank will not be affected by
this transition.
What will happen next?
The decision of how to proceed rests with the MFESP's trustee, the Montana Board of
Regents, which is considering two options:
1. The trustee may choose to direct the PLF assets to be transferred to other MFESP investment options, which may occur prior to June
2011. If so, PLF will waive any contingent deferred sales charges (CDSCs) for accounts
that participate in the trustee-directed transfer on the transfer date.
- A Trustee-directed transfer does not count as your once-a-calendar-year
investment change
2. The trustee may choose to allow the assets to remain with Pacific Life Funds.
- If you move to another MFESP investment (such as into a College Savings Bank
FDIC insured product), PLF has agreed to waive fees
At this time, we do not have further details on MFESP's transition plan; however,
more information will be provided as it becomes available.
Effective February 1, 2010, new applications for the MFESP may only be made by
Montana residents purchasing shares directly from Pacific Life Funds.
For existing customers, you may continue to make contributions to your Pacific Life
Funds 529 Plan accounts, which will still be subject to any applicable sales
charges.
More information will be added as it becomes available.
If you'd like additional information or have a question, please contact College
Savings Bank any Monday through Friday from 9 am to 6 pm Eastern time, or use the "Live
Chat" feature located at the top right hand corner of this page. It's an easy way to
have your questions answered quickly!
Press Release
View the MFESP press release on this transition here.
Products
For a look at the products available through the MFESP from College Savings Bank, click here.
Enroll
Or to enroll online in the MFESP, click here.
Montana residents still interested in opening a Pacific Life account may enroll directly. For more information, visit:
https://collegesavings.myaccount.pacificlife.com/csm/home/product_info.html