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Summary: The Arizona InvestEd Plan broker 529 savings program features three fund-of-fund mutual funds from Waddell & Reed, available as either static investment options or as part of an age-based strategy, plus 16 individual-fund portfolios invested in Ivy Funds mutual funds. |
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Program type: Savings |
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Telephone: 1-888-923-3355 |
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Web site: Click here to visit |
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Twitter |
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Facebook |
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Program manager: Waddell & Reed |
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State residency requirements: None |
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Maximum contributions: Accepts contributions until all account balances in Arizona's 529 plans for the same beneficiary reach $350,000. |
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Minimum contributions: With lump-sum contributions, the minimum initial contribution is $500. With the automatic investment plan, the minimum contribution level is $50 per portfolio per month via bank transfer or $25 per pay period via payroll deduction. |
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Age-based investment options: Contributions are placed into one of 3 portfolios?Growth (ages 0?8), Balanced (ages 9?15), or Conservative (ages 16 and up)?corresponding to the beneficiary?s age, and later reassigned to more conservative portfolios as the beneficiary approaches college age. |
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Static investment options: Select among 3 fund-of-funds portfolios (Growth, Balanced, or Conservative) and 16 individual-fund portfolios each investing in a single mutual fund from the Ivy Funds family. |
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Underlying investments: Ivy Funds and Waddell & Reed Advisors Funds. |
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Enrollment or application fee: None, but contributions may be subject to a sales charge. |
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Account maintenance fee: $20 annually for accounts with less than $25,000, waived for Arizona residents. |
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Program management fees: None for Waddell Reed investment portfolios; 0.40% - 1.00% for Ivy Funds (subject to waiver) |
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Expenses of the underlying investments: Ranges from 0.80% to 1.02% in the InvestEd Portfolios, including the 0.25% 12b-1 distribution fee; 0.72% to 1.67% in the Ivy Fund Portfolios, including the 0.25% 12b-1 distribution fee; 0.39% in the Ivy Money Market portfolio (no distribution fee). |
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Total asset-based expense ratio: 0.80% - 1.02% in the InvestEd Portfolios
1.19% - 2.52% in the Ivy Funds; 1.00% - 1.67% reflects a waiver of management fees, 12b-1 fees and/or shareholder servicing fees through July 31, 2012
0.79% in the Ivy Money Market portfolio
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Program match on contributions: None. |
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State tax deduction or credit for contributions: Contributions to Arizona AND non-Arizona 529 plans of up to $750 per year by an individual, and up to $1,500 per year by a married couple filing jointly, are deductible in computing Arizona taxable income. The original sunset date of December 31, 2012 has been removed, thus making the deduction permanent. |
