Union Bank and Trust To Take Over NEST Program

Nebraska State Treasurer John Murante announced Thursday that Union Bank & Trust (UBT) of Lincoln will be the new program manager for the Nebraska Educational Savings Trust (NEST) program, starting in December 2020.

“The trust NEST account owners have in the program was paramount in our decision-making process,” said Murante. “The proposal submitted by UBT will make NEST among the most competitive 529 programs in the nation and includes a substantial reduction of fees for our account owners. Reducing the program management fee for the NEST Direct Plan by 68 percent, in addition to lower investment expenses, means more money contributed to a NEST account will go towards kids’ education.”

“We’re excited for the opportunity to assist Nebraska families with their educational savings goals,” said Angie Muhleisen, president and chief executive officer for UBT.

UBT will assume program management responsibilities from First National Bank of Omaha, which has managed the plan since December 2010.