SAVINGS INCENTIVES AND INVESTMENT MANAGEMENT FEES: A STUDY OF THE 529 COLLEGE SAVINGS PLAN MARKET

Vicki L. Bogan

Contemporary Economic Policy, 2014, vol. 32, issue 4, 826-842

Abstract: type="main" xml:lang="en">

This paper analyzes the 529 College Savings Plan market using a plan level panel data set covering the years 2002–2006. The results show evidence of limited market competition and a positive relationship between state tax benefits and 529 plan fees. A $100 increase in potential taxable income benefit from investing in a 529 plan is associated with a 3–6 basis point increase in investment management fees for direct-sold 529 College Savings Plans. This suggests that government policies designed to make college more affordable could enable investment firms to charge excess fees. (JEL G11, H24, I22)

Date: 2014
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