Nebraska won’t be renewing its contract to keep the AIM College Savings Program. Investment researcher Morningstar has put it on its list of one of the worst in the nation. State Treasurer Shane Osborn serves as the trustee of Nebraska’s AIM College Savings Plan. He tells us, “You never know, sometimes fund families don’t perform as hoped. This is a result of the marketplace changing as well . When these contracts were negotiated fees were right where the markets were, but a lot of these top rated plans have had their contracts renewed and that’s why they have much lower fees than ours.”
Osborn says it’s his focus to make sure to get these fees in line with where the market is now. The Union Bank portion of the plan ranks as one of the top in the country, but he says the AIM program gives it a black eye.