WA529 Invest reports strong enrollment and market-driven performance; TIAA outlines campaigns

Kristen Murphy of TIAA told the committee WA529 Invest has had a strong year: year‑to‑date account openings and contributions are up about 84%, and gifting activity rose about 156% compared with the prior year. She described upcoming episodic campaigns — including a Sept. 15–30 $50 bonus promotion that requires a six‑month contribution commitment — and said marketing will target dormant account owners with outreach later this month.

Jordan Jones from the investment team provided a market overview and a preview of the annual asset‑allocation review. He said total program AUM is just over $816,000,000 and that about 58% of assets are in enrollment‑year options. Jones described recent Q2 volatility, noted growth stocks outperformed value during the quarter and explained how fair‑value adjustments affected non‑U.S. index funds' reported performance.