Section 2500.80 Administrative Fees, Costs, and Expenses

Section 2500

Section 2500.80

Administrative Fees, Costs, and Expenses

a)

Any

fees, costs, and expenses

, including investment fees and expenses and

payments to third parties, related to the Pool,

shall be paid from the

assets

of the Pool

.  [15 ILCS 505/16.5(e)]

b)

The

Treasurer must use

their

best efforts to keep these fees as low as

possible and consistent with administration of high quality competitive college

savings programs.

[15 ILCS 505/16.5(e)]

c)         Fees,

costs, and expenses shall include sufficient reserve funds in line with

industry standards for government operated funds.

d)         The

Treasurer may permit a third-party service provider to provide compensation to

participating financial institutions or other financial services providers that

promote the Pool to their customers, provided that the cost of the compensation

is not passed on to account owners without their consent.