| • |
Summary: The Iowa Advisor 529 Plan is managed by Upromise Investments and offers 16 portfolio options utilizing mutual funds from six different fund families. Accounts can be linked to the Upromise rewards service. |
| • |
Program type: Savings |
| • |
Telephone: 1-800-774-5127 |
| • |
Web site: Click here to visit |
| • |
Twitter |
| • |
Facebook |
| • |
Program manager: Upromise Investments, Inc. |
| • |
State residency requirements: None |
| • |
Maximum contributions: Accepts contributions until all account balances in Iowa's 529 plans for the same beneficiary reach $320,000. |
| • |
Minimum contributions: With lump-sum contributions, the minimum initial and subsequent contribution is $50 per portfolio. With the automatic contribution plan, the minimum contribution level is $50 per month or $150 per quarter. |
| • |
Age-based investment options: None. |
| • |
Static investment options: Select among 3 asset allocation portfolios and 13 individual-fund portfolios representing a range of investment styles and utilizing mutual funds and ETFs from 7 fund families (American Century, Columbia Management, Delaware Investments, Franklin Templeton Investments, Harbor, Pioneer Investments, and Vanguard). |
| • |
Underlying investments: Mutual funds from American Century, Columbia Management, Delaware Investments, Franklin Templeton Investments, Harbor, and Pioneer Investments, and ETFs from Vanguard. |
| • |
Enrollment or application fee: None. |
| • |
Account maintenance fee: $25 annually for accounts with less than $25,000. |
| • |
Program management fees: 0.40% management fee (includes 0.10% fee to the state), plus distribution/marketing fee of 0.25% (Class A) or 1.00% (Class C) |
| • |
Expenses of the underlying investments: Ranges from 0.07% to 1.24%. |
| • |
Total asset-based expense ratio: Class A: 0.72% - 1.89%
Class C: 1.47% - 2.64% |
| • |
Program match on contributions: None. |
| • |
State tax deduction or credit for contributions: Contributions to an Iowa 529 plan of up to $2,865 for 2011 ($2,975 for 2012) per beneficiary by an individual, and up to $5,730 ($5,950) per beneficiary by married taxpayers filing jointly who each make their own contributions, are deductible in computing Iowa taxable income. The maximum deduction increases each year with inflation. Only contributions made by the account owner are deductible. Contribution deadline is December 31 postmark. |
