Virginia529 is updating the names of inVEST’s age-based evolving portfolios to reflect the expected year of the initial distribution for each. For example, a child in the recommended age range for Chesapeake may need the funds in his or her account for higher education around 2021. Accordingly, the Chesapeake Portfolio’s new name is the 2021 Portfolio. (Account owners are not limited to the portfolio that corresponds to the beneficiary’s age but may be guided by the beneficiary’s age and their own risk tolerance.)

The Piedmont Portfolio is being renamed Stable Value Portfolio to reflect its completed transition. It also is moving from the age-based portfolio category to the actively–managed static portfolio lineup as its underlying asset allocation to stable value investments does not change over time.

Virginia529 will complete the new name implementation by January 1, 2017. See the chart below for portfolios impacted by these changes.