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PIMCO Launches 529 Program With Highest Contribution Limit

PIMCO Funds Distributors has just rolled out its new college savings program, CollegeAccess 529.

The 529 program, which is sponsored by the state of South Dakota, includes access to 26 portfolios, including five age-based options, five customized portfolios and 16 portfolios investing in single mutual funds. The lineup also includes fixed-income offerings.

The contribution limit for the program has been set at $305,000, the industry's highest, according to the firm. PIMCO offers 60 stock and bond funds, which are sold through financial advisors. The new 529 program is available nationwide.