Products October 17, 2011

Neb. 529 Plan Launches FDIC-Insured Savings Option

First National Bank of Omaha, the Nebraska Educational Savings Trust, and the State Treasurer announced the launch of the Bank Savings Investment Option, Nebraska's FDIC-insured 529 savings option.  
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Nebraska Educational Savings Trust, NEST, is Nebraska’s 529 college savings plan (previously named College Savings Plan of Nebraska), of which the State Treasurer,  Don Stenberg, serves as the Trustee and First National Bank of Omaha serves as Program Manager.  

The Bank Savings Individual Investment Option is a low-cost investment option that is not subject to stock market fluctuation, the plan announced. The savings option is FDIC-insured up to $250,000 when combined with any other account owner holdings at the First National Bank of Omaha.  

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The Bank Savings Individual Investment Option has no minimum contribution, balance, or holding period; no withdrawal fees; a 0.20% total annual asset based fee; and no adviser fees in the NEST Advisor Plan.  The new option also offers competitive interest rates with a current 0.80% APY. This rate will change over time and is compounded daily and credited on a monthly basis less the total annual asset based fee.

State Treasurer Stenberg said the new option provides a very conservative, safe investment choice for parents, particularly those whose children are nearing college age or are already in college, and for grandparents who are seeking secure investment opportunities for their grandchildren’s educational expenses. “This will be a much appreciated option to make sure funds for their children’s or grandchildren’s education are secure and federally insured,” he said.

For more information, visit www.NEST529.com or www.treasurer.org. 

Deals & People October 17, 2011

Pentegra Announces Director of Qualified Plan Marketing

Mary Read has joined Alliance Benefit Group-Pentegra as the National Director of Qualified Plan Marketing.
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In tandem with Alliance Benefit Group-Pentegra’s acquisition of National Life Group’s qualified retirement business (see “Pentegra Acquires National Life Group Division“), Read  will be responsible for strengthening the organization’s relationships with National Life Group field agents by providing business development support.She will be working under the direction of Richard W. Rausser, Vice President.  

Before the acquisition, Read was Vice President, Qualified Plan Marketing for National Life Group. With more than 30 years of experience in the industry, she has an extensive background in marketing and plan design.   

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Prior to National Life Group, Read was a Pension Consultant with Feldman Benefit Services, an actuarial consulting firm, and previously was Assistant Vice President of Marketing and Retirement Planning for MONY Life Insurance Company of New York.   

Read holds the Certified Pension Consultant (CPC) and Qualified Plan Administrator (QPA) designations from the American Society of Pension Professionals and Actuaries (ASPPA). She also holds paralegal certification from Upsala College and a B.A. in Literature from Ramapo College of New Jersey.

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