Exciting New Changes Are Coming to Your NEST 529 Account
We’re pleased to announce NEST will be transitioning to a new program manager, Union Bank & Trust, bringing lower costs, several new fund families, along with updates and modifications to the asset allocations of the existing Age-Based and Static Investment Options. The investment options will feature quality fund families including DFA, T. Rowe Price, Fidelity, Northern, Dodge & Cox, Vanguard, and others.
Same NEST, New Benefits.
At 3 p.m. CT on Friday, December 4, 2020, program management of the NEST Advisor College Savings Plan will transition from First National Bank of Omaha to Union Bank & Trust. With the planned changes, this move will position NEST as one of the most attractive advisor-sold 529 plans in the nation. As the transition to UBT progresses, a variety of enhancements and new programs will be announced, all designed to help families as they save for future education costs.
Union Bank & Trust was founded in 1917, and has been helping families save for college with its nationally recognized 529 programs since 2001.
Same NEST, New Look.
What Does This Mean for My Account?
Exciting changes, enhancements, and lower costs will be seamlessly integrated into the NEST Advisor Plan at the time of transition. Read on for additional information regarding upcoming changes to your account:
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Account Owners
Lower costs, enhanced asset allocations, several new fund families, and a refreshed look are coming December 7. These changes will be integrated seamlessly with no action required on your part.
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Employers & Employees
The NEST Advisor Plan will continue as an attractive, no-cost benefit for your employees. And, in 2021, employers should watch for details on a new employer matching contribution incentive program.
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Financial Advisors
Quality fund families, lower costs, enhanced asset allocations for the Age-Based and Static investment options, and several new quality fund families create the opportunity to position the NEST Advisor Plan as one of the top advisor-sold 529 plans in the nation.
Important Dates
Please note – There will be a short blackout period, starting Wednesday, December 2 at 3 p.m. CT. Transactions and other change requests received after 3 p.m. CT on Wednesday, December 2, 2020, are scheduled to be processed Monday, December 7, 2020, using Monday, December 7, 2020 closing prices. Please plan accordingly.
Wednesday, December 2nd
Transactions submitted prior to 3 p.m. CT will be processed by the outgoing program manager (for NSCC Fund/SERV transactions the cut-off is 10:59 PM CT on Tuesday, December 1).
Wednesday, December 2nd
BLACKOUT starting 3 p.m. CT – Any transaction activity submitted after 3 p.m. CT Wednesday, December 2, will be processed Monday, December 7, 2020, at Monday, December 7, 2020, closing prices.
Friday, December 4th
Conversion weekend begins.
Monday, December 7th
Transactions processed as normal.
Conversion of plan records to Union Bank & Trust is complete.
Note: If you need to request a withdrawal for college, make an investment change, or make changes to your account, please complete such requests prior to 3 p.m. CT on Wednesday, December 2, 2020, or you can request as normal beginning Monday, December 7, 2020.
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