On the campaign trail parents ask why money invested in the 529 College Savings Plan has been growing at a slow rate. The return on investments should reflect how the stock and bond markets are performing. Also, the age of the child dictates the mix of investments in the portfolio, higher risk stocks for toddlers and lower risk bonds for teenagers. Then there is the issue of how money is spent to promote the program:
It is very disturbing to see TV advertisements for Iowa’s 529 College Savings Plan that look more like political ads to re-elect Michael Fitzgerald, especially when these ads are paid for by money invested by parents. Fitzgerald has done this in past elections and he plans to continue to promote himself in the 2014 election with the money parents invested for the education of their children. Using 529 College Savings Plan money to run TV ads that promote both the 529 Plan and Michael Fitzgerald is wrong.
Keith Laube believes this is the result of someone being in office too long, giving them a sense of entitlement and power to ignore ethical rules. This is one of the reasons Keith is running for office, to make improvements to state government. If elected State Treasurer, Keith Laube would not use parents’ money to promote himself.