The MSRB proposed to amend Form G-45 to clarify data elements and to require additional data from underwriters of college savings plans (i.e., "529 savings plans") and Achieving a Better Life Experience ("ABLE") programs (issued under the "ABLE Act").
The proposed amendments would (i) clarify a data element concerning the program management fee assessed by a 529 savings plan or ABLE program, (ii) add a data element concerning the closing date for investment options offered in a 529 savings plan, and (iii) delete data elements concerning annualized three-year performance information. According to the MSRB, the proposal would enhance its ability to "assess the impact of each 529 savings plan and ABLE program on the market, to evaluate trends and differences, and to gain an understanding of the aggregate risk taken by investors."
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