Jun 11th, 2009 by Tim Kober
The Illinois State Treasurer’s office has reached a tentative agreement with Oppenheimer Funds to recover $77 million of the $85 million that plan participants lost in the Oppenheimer Core Bond Fund. Details at this link.
Negotiations with Oppenheimer Funds include Oregon, but there hasn’t been any official communication yet from the Oregon 529 College Savings Plan.
This news bodes well for Oregon 529 plan participants who held college savings in the Core Bond fund, which lost 38 percent in 2008.
Hat Tip to Jim Blankenship, CFP ®, author of the Getting Your Financial Ducks In A Row Blog, for the Illinois info.