I have two 529 plans to save for my childrens’ college education.  They are adminstered via VSAC and the Program Manager is Rep. Richard Westman (R-Cambridge).  However, the real money management is done via TIAA-CREF in North Carolina.  

Vermont Higher Education Investment Plan(VHEIP), c/o TIAACREF

Tuition Financing Inc.

8500 Andrew Carnegie Blvd., D2-03,

Charlotte, NC 28262.

Why do we have to send our money to Charlotte, NC to be invested?  I thought one thing the quality of life in Vermont was supposed to attract was highly educated professionals (like money managers) who could do their job from any location in this digital age.

Isn’t this exactly the type of white collar, low carbon footprint, “industry” and profession that we want to attract?  Why aren’t we having an in-state firm handle this?

I would think that Vermont must have the institutions and talent to handle this without sending our dollars to NC.