Illinois Administrative Code
Title 23 - EDUCATION AND CULTURAL RESOURCES
Part 2500 - COLLEGE SAVINGS POOL
Section 2500.80 - Administrative Fees, Costs, and Expenses

Universal Citation: 23 IL Admin Code ยง 2500.80

Current through Register Vol. 48, No. 38, September 20, 2024

a) Any fees, costs, and expenses, including investment fees and expenses and payments to third parties, related to the Pool, shall be paid from the assets of the Pool. [15 ILCS 505/16.5(e)]

b) The Treasurer must use their best efforts to keep these fees as low as possible and consistent with administration of high quality competitive college savings programs. [15 ILCS 505/16.5(e)]

c) Fees, costs, and expenses shall include sufficient reserve funds in line with industry standards for government operated funds.

d) The Treasurer may permit a third-party service provider to provide compensation to participating financial institutions or other financial services providers that promote the Pool to their customers, provided that the cost of the compensation is not passed on to account owners without their consent.

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