State cuts deal with college savings program

June 9, 2009 5:17:38 AM PDT
Illinois has reached a tentative agreement to recover millions of dollars that investors lost in the Bright Star college savings program. Last year, $85 million was lost when a fund called core plus dropped 38 percent. It is managed by Oppenheimer Funds. Of that amount, 77 million would be returned.

A formula is expected to be created to determine how much each investor gets back.


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