State Farm® 529 Savings Plan - Bank Savings Static Option
The Bank Savings Static Investment Option seeks income consistent with the preservation of principal and invests all of its assets in a savings account (“Savings Account”) held at First National Bank of Omaha (the “Bank”). The Savings Account is an omnibus savings account insured by the FDIC and is held in trust by the Nebraska Educational Savings Plan Trust at the Bank. The Bank also serves as Program Manager of the Plan.
Strategies: The Investment Option invests 100% in an FDIC-insured savings account.
Investments in the Bank Savings Static Investment Option will earn varying rates of interest. The interest rate generally will be equivalent to short-term deposit rates. Interest on the Savings Account will be compounded daily based on the actual number of days in a year (typically 365 days, except for 366 days in leap years) and will be credited to the Savings Account on monthly basis. The interest on the Savings Account is expressed as an annual percentage yield (“APY”). The APY on the Savings Account will be reviewed by the Bank on a periodic basis and may be recalculated as needed at any time. To see the current Bank Savings Static Investment Option APY please go to www.statefarm.com or call 800.321.7520.
The State Farm 529 Savings Plan (the "Plan"), is sponsored by the State of Nebraska and administered by the Nebraska State Treasurer. The State Farm 529 Savings Plan offers a series of investment (Portfolios) options within the Nebraska Educational Savings Plan Trust(which) offers other investment portfolios not affiliated with the State Farm 529 Savings Plan. The State Farm 529 Savings Plan is intended to operate as a qualified tuition program to be used only to save for qualified higher education expenses, pursuant to Section 529 of the U.S. Internal Revenue Code.
An investor should consider the Plan’s investment objectives, risks, charges and expenses before investing. The Program Disclosure Statement at statefarm.com® which contains more information, should be read carefully before investing.
Investors should consider before investing whether their or their beneficiary’s home state offers any state tax or other state benefits such as financial aid, scholarship funds, and protection from creditors that are only available for investments in such state’s qualified tuition program and should consult their tax advisor, attorney and/or other advisor regarding their specific legal, investment or tax situation.
Investing involves risk, including potential for loss.
Account owners do not own shares of the underlying investments, or, in the case of the Bank Savings Static Investment Option, directly hold a savings account, but rather own an interest in the Individual Investment Options offered by the State Farm 529 Savings Plan.