Individual Fund Portfolios

In addition to the age-based and target portfolios, Bright Directions allows you to choose from 24 individual fund portfolios and 9 female- and minority-owned portfolios. The portfolios can be more volatile than the more broadly diversified age-based and target portfolios but allow you the freedom to tailor your choices to meet specific education investment goals. These portfolios range from lower risk/lower return to higher risk/higher return investment vehicles.

The major asset classes are represented in the program, including money market, fixed income, balanced, domestic equity, international equity, socially responsible, and real estate as well as female- and minority-owned alternatives. Working with your investment professional, you can design an overall investment strategy incorporating these major asset classes into your overall investment program. Included are funds from PIMCO, DFA, American Century, Northern Funds, William Blair, AllianceBernstein, Ariel Capital, T. Rowe Price, Barclays Global Investors, Calvert, Delaware Investments, Oppenheimer, Eaton Vance, Earnest Partners, Paydenfunds, NCM Capital, Forward Funds, Adelante Capital Management, and FMA.

Keep in mind, your investment professional stands ready to assist you.

529 Portfolios

Money Market

BGI Institutional Money Market 529 Portfolio*

Fixed Income

Balanced

T. Rowe Price Balanced 529 Portfolio

Socially Responsible

Calvert Social Investment Equity 529 Portfolio

Real Estate

T. Rowe Price Real Estate 529 Portfolio

Domestic (US) Equity

Large-Cap

Mid-Cap

Small-Cap

International Equity

Female- and Minority-Owned Portfolios

* An investment in the security is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the security seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the security.

Investment Products: Not FDIC Insured. No Bank Guarantee. May Lose Value

The Bright Directions College Savings Program is part of the Illinois College Savings Pool and is designed to qualify as a qualified tuition program under the provisions of Section 529 of the Internal Revenue Code. The Bright Directions College Savings Program is sponsored by the State of Illinois and administered by the Illinois State Treasurer, as Trustee. Union Bank & Trust Company serves as Program Manager, and Northern Trust Securities, Inc. acts as Distributor.

You should be aware that other states may sponsor their own qualified tuition plans and may offer a state tax deduction or other benefits that are limited to residents who invest in that plan. You should consult with a tax advisor about state and local taxes.

Withdrawals used to pay for qualified higher education expenses are income TAX-FREE (Federal and State of Illinois). Qualified higher education expenses include tuition, fees, books, supplies and equipment required for enrollment at a qualified institution of higher education. Room and board is considered a qualified higher education expense if the student is enrolled on at least a half time basis.

Every individual's tax situation is different, and it is important to consult a qualified tax advisor regarding the application of the Program’s benefits to your own individual situation.

There is no guarantee that any investment portfolio will achieve its investment goals. The value of an account will go up or down based on the performance of the Portfolio in which the account is invested. When funds are withdrawn, they may have more or less than the total contributions made to the account. Past investment performance is no guarantee of future results.

Investments in the Bright Directions College Savings Program are not guaranteed or insured by the State of Illinois, the Illinois State Treasurer, Union Bank & Trust Company, Northern Trust Securities, Inc., the Federal Deposit Insurance Corporation or any other entity. Investors should read carefully and consider the investment objectives, risks, fees, and expenses contained in the Program Disclosure Statement (issuer's official statement) before investing. The Program Disclosure Statement, which contains additional information about the plan and municipal fund securities, is available from your financial advisor.