TIAA-CREF Replaces Fidelity for California 529 College Plan
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California has picked TIAA-CREF to manage its college-savings plan that has about $4 billion in assets.
The ScholarShare Investment Board, which oversees the state’s 529 program, voted today to award New York-based TIAA-CREF a five-year contract for its plan sold directly to investors, Joe DeAnda, a spokesman for California Treasurer Bill Lockyer, said in a telephone interview.