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Virginia


Virginia529 inVEST


5 Cap Ratings
(Resident Rating) (Non-Resident Rating)

Summary
Virginia529 inVEST state-administered 529 savings program features a mix of different mutual funds and separately-managed accounts in its age-based and static portfolio options.

Program Details
Summary: Virginia529 inVEST state-administered 529 savings program features a mix of different mutual funds and separately-managed accounts in its age-based and static portfolio options.
Program type: Savings
Program manager: Virginia College Savings Plan Board and its CEO
State residency requirements: None
Maximum contributions: Accepts contributions until all account balances in Virginia's 529 plans for the same beneficiary reach $350,000.
Minimum contributions: The minimum initial contribution is $25. Failure to contribute at least $250 within the first 12 months may result in termination of the account.
Age-based investment options: The Age-based Evolving Portfolios option contains 8 portfolios of underlying mutual funds and separately-managed investments. Contributions may be invested in any of the portfolios. The portfolios automatically shift to a more conservative investment allocation over time.
Static investment options: Select among 9 portfolios, 8 of which invest in a Vanguard mutual fund and the ninth investing in the Parnassus Equity Income Fund.
Underlying investments: Mutual funds and separately-managed accounts from Vanguard, Rothschild Asset Management, American Funds, Aberdeen, Prudential, Stone Harbor, Morgan Stanley, Franklin Templeton, INVESCO, and Parnassus.
Enrollment or application fee: $25 non-refundable one-time fee.
Account maintenance fee: None.
Program management fees: 0.15% manager fee.
Expenses of the underlying investments: Ranges from 0.10% to 0.59% (portfolio weighted average) in the age-based and static multi-fund portfolios, and 0.04% to 0.68% in the individual-fund portfolios.
Total asset-based expense ratio: 0.19% - 0.83%
Program match on contributions: None.
State tax deduction or credit for contributions: Contributions to a Virginia 529 plan of up to $4,000 per account per year are deductible in computing Virginia taxable income, with an unlimited carryforward of excess contributions. Contributions are fully deductible in the year of contribution for taxpayers at least 70 years of age. Contributions from a non-owner are deductible by the account owner and not by the non-owner/contributor. Contribution deadline is receipt (not postmark date) by the last business day of the year based on agency calendar.
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