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December 1, 2006     Cape Gazette
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December 1, 2006

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56 - CAPE GAZETTE - Friday, December I - Monday, December 4, 2006 State investment t)]an enhancements help families save for college State Treasurer and Delaware College Investment Plan Chairman Jack Markell announced sweeping enhance- ments to the Delaware College Investment Plan that will assist families in saving for a child's education. "Fewer than half of Delaware parents recently surveyed with- children age 10 or younger have started a college savings account," Markell said. "I'm delighted to announce that the Delaware College Investment Plan has added some real enhancements to encourage more Delaware families to open an account to prepare for college education." The enhanced Delaware College Investment Plan, admin- istered by Fidelity Investments, offers investors the following: A wider range of investment options for every type of investor, including new index fund investment options Unlike actively managed funds, index funds are mutual funds that invest in stocks or bonds that are included in a specific index and are not actively traded or man- aged by the portfolio manager. Lower fees. Fees on index portfolios are capped at 50 basis points. In addition, the minimum initial investment for all accounts has been reduced from $500 to $50. The minimum monthly investment has been reduced from $50 to $15. New opportunities to earn rebates through credit card purchases - Fidelity offers a Fidelity Investments 529 College Rewards American Express card which allows participants of Fidelity's direct and adviser-sold plans to earn rebates on all net retail purchases. In addition, Fidelity 529 College Rewards American Express card members have access to special offers to save on dining, shopping, travel and more. "Delaware families have been asking for additional, low-cost college savings options, so we're excited to be able to announce these enhancements to the Delaware College Investment Plan," Markell said. The 529 Delaware College Investment Plan, administered by Fidelity Investments, provides professionally managed invest- ments, high contribution limits,' no income restrictions, and the ability for parents, guardians or grandparents to maintain control of an account specifically dedicat- ed for college or accredited trade S crh O O 1 expenses. The plan offers unlimited, complimenta- ry planning and guidance services to participating MARKELL families. The 529 savings plans are named for a sec- tion of the federal tax code that allows parents, grandparents and others to set up investment accounts for college expenses. The investments grow tax-free and are free of federal tax when the funds are used to pay for tuition, fees, room, board, books and supplies. In most instances, the funds can be used for any col- lege or university, not just schools in the state that sponsors the plan. Because Delaware follows fed- eral tax regulations, withdrawals from the Delaware College Investment Plan are completely tax-free for residents. Currently more than 23,470 families partici- pate in the Fidelity administered plan and they have saved more than $300 million for education. To learn more about the new enhancements to the Delaware College Investment Plan or to set up an account, call Fidelity at 800-343-3548 or visit Office:(302) 226-3770 Toll Free: 1-877-3.10-SOLD Leokin 9 for a special gift? Order a Cape Gazette subscription for someone! Creative Concepts /011 Itt1 From Our Store at Creekside Plaza, Ocean View to the "Basement" of our Lewes Store. Routes 1 & 9 - Five Points Lewes, DE (302) 645-6200 HanterDouglas window fashions vlrmml  lum " Maggio Shields JR Mio