Changes for Bright Start College Savings Accounts
Illinois Bright Start accounts are a great tool to save for college, and the new improvements they are rolling out will make them better than ever. The new platform will reduce fees for some families while still offering a wide variety of investment options to choose from. Some of the changes are highlighted below, and you can learn more details about the transition by visiting www.BrightStart.com.
New Account Numbers:
All accounts will automatically transition to the new program manager, TIAA-CREF, and be assigned new account numbers. Be sure to update your records.
New Mailing Address:
If you prefer to mail a check to make your contribution, please use the new address below.
Bright Start 529 College Savings
PO Box 219288
Kansas City, MO 64121
Online Access:
Account owners will need to re-establish their login information www.BrightStart.com to view and manage their accounts. The updated website will be easier to navigate, and it will have new tools to help with planning for college expenses.
New Mobile App:
The READYSAVE™ 529 mobile app will allow you to check balances, open new accounts and make contributions from anywhere. It is available at the App Store (Apple) and Google Play (Android). You will need to re-establish or set-up your initial login on the website before you can use the mobile app.
Gifting Options:
Account owners can easily send contribution requests to family members and friends with Ugift®. Messages with a link to make an on-line gift can be sent via email, text and social media from the Bright Start website or mobile app.
Automatic Contributions:
If you already set-up automatic contributions through the Bright Start website, then you do not need to make any changes. Future contributions will automatically flow to the new accounts. However, if you use bill pay through your bank or deduct payments from your paycheck, you will need to update the delivery instructions with the new account numbers and routing information.
Terri Velgara, CFP®
Terri is a Senior Financial Advisor and Director of Financial Planning at Rappaport Reiches Capital Management. She serves as a resource for our firm's advisors in designing plans that empower clients to achieve their personal and financial goals. Please connect with Terri below. She loves to talk about investing, financial planning, and family game nights!