August 29, 2018

The Oregon 529 Plan Manager Change: What does it mean for you?

Savers with Oregon 529 plans may have recently received a postcard with information about a new plan manager, Sumday Administration LLC. The 529 plan manager is a financial services firm that handles all of the transactions and investments within the plan. Oregon 529 Plan account holders won’t see any major changes as a result of the switch, but there are a few key dates to keep in mind:

  • Sept. 6 at 1 p.m. through Sept. 12 at 6 a.m. – No new withdrawals or deposits can be made during this period.
  • Sept. 7 at 1 p.m. through Sept. 12 at 6 a.m. – You will be unable to sign in to your account during this period.
  • Sept. 12 – The plan manager switch will be complete. After the switch, you can access your funds at www.OregonCollegeSavings.com or by calling 866-772-8464. Upon logging back into your 529 account, you will be prompted to create a new password.

In advance of these dates, account holders should take the following steps:

  • With back-to-school around the corner, take a close look at any upcoming tuition deadlines and other educational expenses and make sure you have sufficient funds to cover any bills occurring between September 6 and September 12.
  • Sign into your 529 account online and confirm that your contact information and email address are correct.

After September 12, you can get back into your 529 account online and resume deposits and withdrawals as usual.

Have further questions? You can learn more at www.oregon529network.com/enhancements/