College & Career

Maine

NextGen College Investing Plan -- Client Select Series
5 Cap Ratings
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Summary

The Maine NextGen College Investing Plan -- Client Select Series advisor-sold 529 plan consists of age-based, static multi-fund, and individual-fund options from a number of money managers: Allianz/PIMCO, BlackRock, Franklin Templeton, iShares, Lord Abbett, MainStay, MFS and Neuberger Berman. In addition, the Principal Plus Portfolio and NextGen Savings Portfolio are offered. For complete details, see a Merrill Lynch Financial Advisor or, for Maine residents, a participating Maine Distribution Agent.

Program Details
  • Summary: The Maine NextGen College Investing Plan -- Client Select Series advisor-sold 529 plan consists of age-based, static multi-fund, and individual-fund options from a number of money managers: Allianz/PIMCO, BlackRock, Franklin Templeton, iShares, Lord Abbett, MainStay, MFS and Neuberger Berman. In addition, the Principal Plus Portfolio and NextGen Savings Portfolio are offered. For complete details, see a Merrill Lynch Financial Advisor or, for Maine residents, a participating Maine Distribution Agent.
  • Program type: Savings
  • Program manager: Merrill Lynch, Pierce, Fenner & Smith Incorporated
  • State residency requirements: None
  • Maximum contributions: Accepts contributions until all account balances in 529 plans for the same beneficiary reach $400,000.
  • Minimum contributions: With lump-sum contributions, the minimum initial contribution is $250 ($25 per portfolio), and the minimum subsequent contribution is $50 ($25 per portfolio), may be waived for Maine residents eligible for certain Maine grants. With the automatic investment plan, there is no initial contribution amount required but subsequent automated contributions must be at least $50 ($25 per portfolio) per month.
  • Age-based investment options: Five age-based options are offered, each using a different investment manager. The Franklin Templeton Age-Based Portfolios option contains five portfolios of underlying mutual funds. The AllianzGI Age-Based Portfolios, MFS Age-Based Portfolios, the BlackRock Age-Based Portfolios, and the iShares Age-Based Portfolios each contain 6 portfolios of underlying mutual funds. Contributions are placed into the portfolio corresponding to the beneficiary's age and desired investment manager, and later reassigned to more conservative portfolios as the beneficiary approaches college age.
  • Static investment options: Select among 3 multi-fund and 4 individual-fund portfolios using Franklin Templeton funds, 2 multi-fund and 2 individual-fund portfolios using MFS funds, 3 multi-fund and 4 individual-fund portfolios using BlackRock funds, 2 multi-fund and 3 individual-fund portfolios using Allianz/PIMCO funds, 2 multi-fund and 3 iShares individual portfolios, a MainStay large cap growth portfolio, a Thornburg international equity portfolio, the Principal Plus Portfolio, and the NextGen Savings Portfolio.
  • Underlying investments: Allianz/PIMCO, BlackRock, Franklin Templeton, MainStay, MFS and Thornburg mutual funds. The Principal Plus Portfolio consists of one or more guaranteed investment contracts issued by one or more insurance companies, deposits in an interest-bearing FDIC-insured bank account at Bank of America, N.A., and to the extent approved by FAME, corporate fixed-income investments and/or similar instruments.. The NextGen Savings Portfolio is comprised of an interest-bearing bank deposit account with Bank of America, N.A.
  • Enrollment or application fee: None, but contributions may be subject to a sales charge depending on share class.
  • Account maintenance fee: None
  • Program management fees: For the Principal Plus Portfolio:
    0.46%, includes 0.11% fee to the state

    None for the NextGen Savings Portfolio.

    For iShares Portfolios:
    0.50% distribution/servicing fee (Class A), or 1.25% distribution/servicing fee (Class C) with additional 0.09% fee to the state.

    For all other portfolios:
    None (Class A), or 0.75% distribution/servicing fee (Class C) with additional 0.11% fee to the state

  • Expenses of the underlying investments: Ranges from 0.10% to 1.29% (portfolio weighted average) in the age-based and static multi-fund portfolios and from 0.29% to 1.26% in the individual-fund portfolios. None for the Principal Plus Portfolio and NextGen Savings Portfolio.
  • Total asset-based expense ratio: Class A: 0.00% - 1.40%
    Class C: 0.00% - 2.15%
  • Program match on contributions: New Maine accounts may be eligible to receive a $200 Initial Matching Grant when the account is opened with at least $50 (one grant per eligible beneficiary, no income limitations). The NextStep Matching Grant provides a 50% match on contributions up to a $300 grant per year (one grant per eligible beneficiary, no income limitations). A $100 Automated Funding Grant is available for accounts that make six consecutive contributions, no less frequently than quarterly, through an automated funding option (one grant per account, no income limitations) Separately, if a beneficiary is eligible for the $500 Harold Alfond College Challenge Grant, the initial contribution is waived when a NextGen account is opened.
  • State tax deduction or credit for contributions: Contributions to Maine AND non-Maine 529 plans of up to $250 per beneficiary per year are deductible in computing Maine taxable income for taxpayers with federal adjusted gross income of $100,000 or less (single or married filing separate) or $200,000 or less (joint or head of household).
  • Web site: Click here to visit
  • Telephone: 1-877-463-9843
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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.

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