College & Career
- Program type: Savings
- Program manager: Voya (Voya Investments Distributor, LLC and Voya Funds Services, LLC)
- State residency requirements: None
- Maximum contributions: Accepts contributions until all account balances in Wisconsin's 529 plans for the same beneficiary reach $330,000.
- Minimum contributions: $250, or $25 per month with the automatic contribution plan.
- Age-based investment options: The Age-Based Option contains 9 portfolios offering a mix of underlying funds. Contributions are placed into the portfolio corresponding to the age of the beneficiary, and later reassigned to more conservative portfolios as the beneficiary approaches college age. Account owners may use the beneficiary's actual age or hypothetical age at enrollment.
- Static investment options: Select among 9 multi-fund portfolios with varying risk tolerances and 21 single fund options.
- Underlying investments: Baillie Gifford, BlackRock, Clarion, Columbia, Delaware, HCM, JP Morgan, Lazard, LSV, Northern, TIAA-CREF, T. Rowe Price, Templeton, Voya IM, and Wellington.
- Enrollment or application fee: None, but contributions may be subject to a sales charge depending on share class.
- Account maintenance fee: $25 annually per account option with $25,000 or less, waived with automatic deposits of $25 per month in each option (active for the 12 previous months without interruption or since account opening).
- Program management fees: 0.18% management fee (includes 0.10% fee to the state), plus distribution/servicing fees of 0.25% (Class A), 1.00% (Class AR for Rollovers), 1.00% (Class C), 0.50% (Class C1; TIAA-CREF portfolios), none (Class W), and 0.05% for TIAA-CREF Principal Protection Option. Class AR shares convert to Class A shares after one year at which time distribution/servicing fees are 0.25%. Class C shares convert to Class A shares after six years, at which time distribution/servicing fees are 0.25%.
- Expenses of the underlying investments: Ranges from 0.44% to 0.75% (portfolio weighted average) in the age-based and static allocation portfolios, 0.07% to 1.11% in the single fund portfolios, none for the TIAA-CREF Principal Protection portfolio.
- Total asset-based expense ratio: Class A: 0.23% - 1.54%
Class AR (for rollovers): 1.25% - 2.29%
Class C: 1.52% - 2.29%
Class C1 (TIAA-CREF portfolios): 0.75% - 0.84%
Class W: 0.25% - 1.29%
- Program match on contributions: None.
- State tax deduction or credit for contributions: Contributions to a Wisconsin 529 plan of up to $3,050 per beneficiary per year (any filing status) are deductible in computing Wisconsin taxable income. The maximum annual deductible will be increased annually to reflect inflation. Contributions in excess of the maximum annual limit may be carried forward to one or more future years and deducted up to the then annual maximum deductible amount each year until all amounts invested have been deducted from Wisconsin taxable income. Contributors do not need to be the account owner to claim the deduction. Any Wisconsin taxpayer may claim a deduction for contributions to any account. Contribution deadline is April 15 of the year following the tax year. Beginning in 2010, parents no longer need to claim their child as a dependent in order to claim the deduction; however, the maximum deduction is reduced to $1,525 for a parent who is married and filing separately or who is divorced, unless the divorce judgment specified a different division of the $3,050 combined maximum.
- Web site: Click here to visit
- Telephone: 1-866-677-6933
Copyright 2014 Savingforcollege.com, LLC. All Rights Reserved.
Show Bankrate.com's disclaimer
The information contained in this material and related materials ("Information") is based on information from sources believed to be accurate and reliable and every reasonable effort has been made to make the Information as complete and accurate as possible but such completeness and accuracy cannot and is not guaranteed. The reader and user of the Information should use the Information as a general guide and not as the ultimate source of information. The Information is not intended to include every possible bit of information regarding the Information but rather to complement and supplement information otherwise available and the reader and user should use the Information accordingly. The Information contains information about tax and other laws and these laws may change. The reader and user should realize that any investment involves risk and the assumptions and projections used in the Information may not be how the investments turn out. The reader and user should consult with their own tax, financial and legal advisors about all of the Information.