August 17, 2009
OppenheimerFunds ordered to defend college savings plan lawsuit in Oregon state court
EUGENE – Investment firm OppenheimerFunds Inc. has failed in its attempt to avoid the jurisdiction of Oregon state court after a ruling by US District Court Judge Michael Hogan.
[read more]

July 23, 2009
Board selects TIAA-CREF to administer tax-advantaged Oregon College Savings Plan, which helps familes invest for a better future
TIGARD – Saving for college has never been a better idea.
Soon, one of the nation’s most-respected financial firms will help Oregon families do it.
The Oregon 529 College Savings Board on Thursday unanimously selected New York-based TIAA-CREF Tuition Financing Inc. as the new administrator for the Oregon College Savings Plan. The decision came after an intensive three-month-plus effort to research the six companies that submitted bids to run the popular program.[read more]

April 23, 2009
College Savings Board hires investment consultant to provide independent oversight of ‘529’ college funds
Tigard, OR – In keeping with a pledge to improve Oregon’s college savings plans, State Treasurer Ben Westlund and the Oregon 529 College Savings Board on Thursday added a new layer of independent oversight to help families who are investing for their children’s education.
After a formal national search and interview process and a request for proposals, the Board voted to hire Portland-based firm RV Kuhns & Associates Inc. as investment consultant, subject to contract negotiations. [read more]

April 13, 2009
State of Oregon files lawsuit against OppenheimerFunds to recover lost assets in Oregon College Savings Plan
Salem, OR – Oregon Treasurer Ben Westlund and Attorney General John Kroger announced today a major legal action by the State of Oregon. Acting on behalf of families whose college savings were dramatically devalued, the Attorney General filed suit for the State Treasurer against OppenheimerFunds Inc. and two affiliates to seek the repayment of lost assets in the Oregon College Savings Plan. [read more]

March 9, 2009
Legislation that creates guaranteed prepaid tuition option introduced with bipartisan support
Salem, OR – Bipartisan legislation introduced Monday will give Oregon families a new way to help put college in the reach of their children and grandchildren – and in a way that won’t be subject to fluctuations in the stock market. [read more]

February 26, 2009
Oregon 529 College Savings Board to research FDIC-insured option to give families more certainty
Tigard, OR – Acting on a recommendation from State Treasurer Ben Westlund, the Oregon 529 College Savings Board on Thursday agreed to research the potential inclusion of a FDIC-insured bank CD option to the existing menu of state college savings programs.
[read more]

February 2, 2009
Oregon issues subpoenas, widens probe of OppenheimerFunds in the wake of 529 fund declines
Salem, OR – The state of Oregon has expanded the scope of its investigation in response to declines in conservative portfolios in the Oregon 529 College Savings Network.
The investigation, at the behest of the Office of the State Treasurer and being overseen by the Oregon Attorney General, initially focused on only the OppenheimerFunds Core Bond Fund. It now also includes the OppenheimerFunds Limited Term Government Bond Fund. [read more]

January 29, 2009
Oregon political leaders ask Congress to add flexibility in 529 plans to help families of college-bound children
Treasurer Westlund, Oregon House Speaker Hunt, Rep. Gelser working with U.S. Sen. Wyden to temporarily allow student loans to be paid from 529 college investment accounts
[read more]

January 22, 2009
Oregon 529 College Savings Board terminates two bond funds, seeks bids for a program manager for the Oregon College Savings Plan, authorizes new age-based portfolio
Tigard, OR – Acting on recommendations from State Treasurer Ben Westlund, the Oregon 529 College Savings Board on Thursday decided to withdraw all Plan assets from two funds -- the OppenheimerFunds Core Bond Fund and Limited Term Government Bond Fund -- and also advanced other changes that will restructure the program, increase oversight, and increase choices for Oregon families. [read more]

January 21, 2009
Treasurer Westlund announces new analysis, choices in Oregon 529 College Savings Network
Salem, OR – Saying Oregon families need greater financial security and more choices as
they prepare for college, Oregon State Treasurer Ben Westlund announced on
Wednesday additional analysis of the Oregon 529 College Savings Network. He also announced recommendations he will make Thursday to the Oregon 529 College
Savings Board in his first meeting as chairman. The State Treasurer sits as chairman of
the board. [read more]

January 2, 2009
Courtney, Westlund to propose prepaid tuition plan
Salem, OR – Treasurer-elect Ben Westlund and Senate President Peter Courtney, D-Salem, on Friday announced that they will work together to bring Oregon families an additional way to save money to send their children and grandchildren to college – and in a way that won’t be subject to fluctuations in the stock market. [read more]