BOSTON, June 17, 2014 /PRNewswire/ -- John Hancock has lowered fees for the John Hancock Freedom 529 college savings plan, a national, multi managed, strong performing 529 college savings plan sold through financial consultants, which recently surpassed $4 billion in assets under management.
Effective June 9, 2014:
- The Program Fee was lowered by 10 basis points for all portfolios, except the JH Money Market Portfolio which was lowered by 5 basis points, reducing the Program Fee for all portfolios to 25 basis points
- The Distribution and Service Fee for Fixed Income and Short-Term Bond Portfolios was reduced by 10 basis points
- Account holders who elect to receive account statements and transaction confirmations electronically are eligible for a waiver of the annual Account Maintenance Fee
In addition, effective September 2, 2014:
- The maximum up front sales charge for Fixed Income and Short-Term Bond Portfolios will be reduced to 4 percent from 5 percent
- The maximum up front sales charge for all other portfolios, including aged-based portfolios, will be reduced to 5 percent