Overview |
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Investment Objective
The Savings Portfolio seeks income consistent with the preservation of principal.
Investment Strategy
The Savings Portfolio invests 100% of its assets in the Sallie Mae HYSA. The HYSA is held in an omnibus savings account insured by FDIC, which is held in trust by the Committee at Sallie Mae Bank.
Investments in the Portfolio earn a varying rate of interest. Interest on the HYSA will be compounded daily based on the actual number of days in a year (typically, 365/365 and 366/366 in leap years) and will be credited to the HYSA on a monthly basis. The interest rate is expressed as an Annual Percentage Yield ("APY"). The HYSA APY will be reviewed by Sallie Mae Bank on a periodic basis and may be recalculated as needed at any time. To see the current Savings Portfolio APY please visit www.brighterfuturedirect529.com or call 1.800.587.7301.
Investments in the Savings Portfolio are pooled into the FDIC-insured omnibus savings account held in trust by the Committee at Sallie Mae Bank. Subject to the application of Sallie Mae Bank and FDIC rules and regulations to each Account Owner, funds in the Savings Portfolio will retain their value as described below under "FDIC Insurance."
FDIC Insurance
Except for the Savings Portfolio, investments in Arkansas Brighter Future Direct Plan are not insured by the FDIC.
FDIC insurance is provided for the Savings Portfolio only, which invests in an FDIC-insured omnibus savings account held in trust by the Committee at Sallie Mae Bank. Contributions to and earnings on the investments in the Savings Portfolio are insured by the FDIC on a pass-through basis to each Account Owner up to $250,000, the maximum amount set by federal law. The amount of FDIC insurance provided to an Account Owner is based on the total of (a) the value of an Account Owner's investment in the Savings Portfolio and (b) the value of all other accounts held by the Account Owner at Sallie Mae Bank, as determined by Sallie Mae Bank and FDIC regulations. Plan Officials are not responsible for determining how an Account Owner's investment in the Savings Portfolio will be aggregated with other accounts held by the Account Owner at Sallie Mae Bank for purposes of the FDIC insurance.
No Other Guarantees
There is no other insurance and there are no other guarantees for the Savings Portfolio. Therefore, like all of the Portfolios, neither your contributions into the Savings Portfolio nor any investment return earned on your contributions are guaranteed by Plan Officials. In addition, the Savings Portfolio does not provide a guarantee of any level of performance or return.
Investment Risks
To the extent that FDIC insurance applies, the Portfolio is primarily subject to income risk.
Average Annual Returns - Updated Monthly as of
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Annual Investment Returns
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