The Vermont Higher Education Investment Plan features age-based and static options from four mutual fund families and a money market portfolio.
- Summary: The Vermont Higher Education Investment Plan features age-based and static options from four mutual fund families and a money market portfolio.
- Program type: Savings
- Program manager: Intuition College Savings Solutions, LLC
- State residency requirements: None
- Maximum contributions: Accepts contributions until all account balances in Vermont's 529 plan for the same beneficiary reach $352,800.
- Minimum contributions: $25, or $15 per pay period via payroll deduction.
- Age-based investment options: The Managed Allocation Option contains 6 portfolios of underlying mutual funds. Contributions are placed into the portfolio corresponding to the beneficiary's age and later reassigned to more conservative portfolios as the beneficiary approaches college age.
- Static investment options: Choose from among 5 multi-fund options (Diversified Equity Portfolio, Equity Index Portfolio, Balanced Portfolio, and the Fixed Income Portfolio, and the Treasury Obligations Portfolio).
- Underlying investments: Mutual funds from TIAA-CREF, Vanguard. DFA, and the Federated Treasury Obligations Fund.
- Enrollment or application fee: None.
- Account maintenance fee: None.
- Program management fees: Plan management fee ranges from 0.25% - 0.28%; administrative fee of 0.05% for each portfolio.
- Expenses of the underlying investments: 0.05% to 0.09%.
- Total asset-based expense ratio: 0.39% for each portfolio.
- Program match on contributions: None.
- State tax deduction or credit for contributions: Contributions to the Vermont 529 plan of up to $2,500 per beneficiary per year by an individual, and up to $5,000 per beneficiary per year by married taxpayers who each make their own contributions, are eligible for a 10% tax credit against Vermont income tax. Only contributions made by the account owner, and by a non-account owner who files a joint return with the account owner, are eligible for the credit. The principal portion of a rollover from another 529 plan is eligible for the credit, provided the funds rema in the account for the remainder of the taxable year. Contribution deadline is December 31.
- Web site: Click here to visit
- Telephone: 1-800-637-5860