College & Career

Montana

Achieve Montana
5 Cap Ratings
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Summary

The Montana Family Education Savings Program -- Investment Plan was renamed Achieve Montana with a new suite of investments added in October 2015. Ascensus College Savings continues to serve as program manager for this direct-sold plan. Five investment options are offered featuring Vanguard and DFA funds as underlying investments and an FDIC-insured savings option is also available. Accounts can be linked to the Upromise rewards service.

Program Details
  • Summary: The Montana Family Education Savings Program -- Investment Plan was renamed Achieve Montana with a new suite of investments added in October 2015. Ascensus College Savings continues to serve as program manager for this direct-sold plan. Five investment options are offered featuring Vanguard and DFA funds as underlying investments and an FDIC-insured savings option is also available. Accounts can be linked to the Upromise rewards service.
  • Program type: Savings
  • Program manager: Ascensus College Savings, with The Vanguard Group and Dimensional Fund Advisors LP as investment managers.
  • State residency requirements: None
  • Maximum contributions: Accepts contributions until all account balances in Montana's 529 plans for the same beneficiary reach $396,000.
  • Minimum contributions: $25 or $15 through payroll deduction.
  • Age-based investment options: An age-based option, comprised of five portfolios, moves investments automatically from one portfolio to progressively more conservative investments as the beneficiary approaches college age.
  • Static investment options: Select among six portfolios, Aggressive, Growth, Moderate, Conservative, Income and an FDIC-insured savings option.
  • Underlying investments: Vanguard and DFA funds.
  • Enrollment or application fee: None.
  • Account maintenance fee: $25 annually, waived for accounts with a Montana resident as beneficiary and for accounts with balances of $25,000 or more and for account with automatic bank deposits or by payroll deduction.
  • Program management fees: 0.52%; 0.47% for the savings option, plus 0.20% administrative fee.
  • Expenses of the underlying investments: Ranges from 0.0% to 0.11%
  • Total asset-based expense ratio: 0.67% - 0.83%
  • Program match on contributions: None.
  • State tax deduction or credit for contributions: Contributions to Montana AND non-Montana 529 plans of up to $3,000 per year by an individual, and up to $6,000 per year by a married couple filing jointly, are deductible in computing Montana taxable income. Only contributions made by the account owner, the account owner's spouse, or the account owner's custodian/parent are deductible. Contribution deadline is December 31.
  • Web site: Click here to visit
  • Telephone: 1-800-888-2723
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