College Savings Plan Delayed
The launch of California’s Golden State Scholarshare, a new state-run college savings program, has been delayed while the Securities and Exchange Commission reviews the plan’s paperwork.
The Scholarshare program, which will allow parents and others to put aside tax-deferred money for college, was originally scheduled to begin accepting contributions in early July.
Officials from the state’s Student Aid Commission and from Scholarshare’s investment manager, pension giant TIAA-CREF, described the delay as routine and said they expect the SEC’s approval in the next few weeks. TIAA-CREF has received SEC approvals to operate similar plans in other states.
Start your day right
Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week.
You may occasionally receive promotional content from the Los Angeles Times.
