Frequently Asked Questions

The Nebraska State Treasurer serves as Trustee and Administrator for the NEST Advisor Plan. In the interest of offering the best value and Investment Options for families saving for college, an open and competitive bid process was undertaken this past year. Through this process, the Treasurer and Nebraska Investment Council selected a new program manager (Union Bank & Trust) and worked to enhance and structure a program that will continue to be attractive for all families and college savers.

Effective 3 p.m. CT December 4, 2020, NEST will have a new program manager, which will result in the following changes:  

• Expanded NEST fund family, including DFA, T. Rowe Price, Fidelity, Northern, Dodge & Cox, Vanguard, and others
• Lower program management fee and Investment Option costs
• Modifying and updating the asset allocations of the existing Age-Based and Static Investment Options
• New mailing addresses beginning December 2, 2020:
  • Regular Mail: NEST 529 Advisor, PO Box 84529, Lincoln, NE 68501
  • Overnight or Courier: NEST 529 Advisor, 3606 South 48th Street, Lincoln, NE 68506

• Nebraska tax benefits: Contributions are deductible up to $10,000 for contributions by account owners ($5,000 if married, filing separately¹)
• Tax-deferred growth
• Tax-free withdrawals for qualified college costs²
• Our phone number (888.659.6378) and website (NEST529advisor.com)

Keep your account number handy as you will need it to create new account credentials. Otherwise, no action is required on your part, and all account records, balances, and automatic contributions from bank accounts will transfer over automatically on the following timeline: Click to enlarge timeline image CAPTION: Tuesday 12/1 - No NSCC Fund/SERV trades processed after 10:59 p.m CT Wednesday 12/2 - No transaction activity processed after 3 p.m. CT* (see footnote). Friday 12/4 - Conversion period begins Monday 12/7 - Transactions received after 3 p.m. CT Wednesday, 12/2 (NSCC Fund/SERV trades received after 10:59 p.m. CT Tuesday, 12/1)through 3 p.m. CT on Monday, 12/7, will be processed on Monday, 12/7, using 12/7 closing prices. *Transactions submitted between 3 p.m. CT on Wednesday, December 2, 2020 (10:59 p.m. CT Tuesday, December 1, 2020, for NSCC Fund/SERV trades) and 3 p.m. CT on Monday, December 7, 2020, are scheduled to be processed on Monday, December 7, 2020, using the closing prices of Monday, December 7, 2020.

Yes. The IRS allows two investment changes per calendar year, or upon a change of beneficiary. If you will be making any investment changes, we recommend that you make these changes prior to 3 p.m. CT on Wednesday, December 2, or request as normal beginning Monday, December 7, 2020. The transition to the new investments and program manager are program-initiated and should not count toward the account owner’s twice per calendar year investment change limit allowed by the IRS.

The NEST Advisor Plan will have Age-Based Investment Options, Static Investment Options, and 19 Individual Fund Investment Options. Visit our Investments Options page for more information.

Yes, there will be a blackout period while the records and accounts transfer. IMPORTANT: Requests via paper form, online, or via phone for account changes and transactions received after 3 p.m. CT Wednesday, December 2, 2020 (after 10:59 p.m. CT Tuesday, December 1 for NSCC Fund/SERV trades), through 3 p.m. CT Monday, December 7, 2020, will be processed on Monday, December 7, 2020, using closing prices as of December 7, 2020.

You will be able to access your account online the afternoon of Monday, December 7, 2020. Please plan accordingly and make needed changes to your account prior to 3 p.m. CT on Wednesday, December 2, 2020, or request as normal beginning Monday, December 7, 2020.  

No. The NEST Advisor Plan will have no annual account fee or setup fees.

Yes. This transition site will be updated and kept current throughout the process, so check back regularly. You will also receive a welcome letter and account confirmation a week to ten days following the conversion.

The transition to the new investments and program manager are program-initiated and should not have tax implications or count against your allowable two investment changes per calendar year.

Contact us between 7 a.m. CT - 7 p.m. CT (M-F) at our special transition assistance line, 833.399.1020.