Overview |
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Investment Objective
The portfolio seeks income consistent with the preservation of principal.
Investment Strategy
The portfolio invests 100% of its assets in the HYSA. The HYSA is held in an omnibus savings account insured by the FDIC (up to the limits set forth below), which is held in trust by the Authority at NexBank Investments in the Savings Portfolio earn a varying rate of interest. Interest on the HYSA will be compounded daily based on the actual number of days in a year and will be credited to the HYSA on a monthly basis. The interest rate is expressed as an Annual Percentage Yield (APY). The APY will be reviewed by NexBank on a periodic basis and may be recalculated as needed at any time. To see the current Savings Portfolio APY please visit www.collegechoicedirect.com or call 1-866-485-9415.
FDIC insurance is provided for the Savings Portfolio only. Contributions to and earnings on the investments in the Savings Portfolio are insured by the FDIC on a pass-through basis to each Account Owner up to the maximum amount set by federal law – currently $250,000. The amount of FDIC insurance provided to an Account Owner is based on the total of:
1. the value of an Account Owner's investment in the Savings Portfolio; and
2. the value of all other accounts held by the Account Owner at NexBank, as determined by NexBank and FDIC regulations.
The Plan Officials are not responsible for determining how an Account Owner’s investment in the Savings Portfolio will be aggregated with other accounts held by the Account Owner at NexBank for purposes of the FDIC insurance.
There is no other insurance and there are no other guarantees for the Savings Portfolio. Therefore, like all of the Portfolios, neither your contributions to the Savings Portfolio nor any investment return earned on your contributions are guaranteed by the Plan Officials. In addition, the Savings Portfolio does not provide a guarantee of any level of performance or return.
Average Annual Returns - Updated Monthly as of
| Name | 1 year | 3 year | 5 year | 10 year | Since Inception |
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Annual Investment Returns
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Since Inception returns for less than one year are not annualized.
The performance data shown represents past performance. Past performance - especially short-term past performance - is not a guarantee of future results. Investment returns and principal value will fluctuate, so investors' units, when sold, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data cited.
