College & Career

Nevada

Putnam 529 for America
5 Cap Ratings
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Summary

Launched in October 2010, Nevada's Putnam 529 for America advisor-sold 529 savings plan offers an age-based options, 3 goal-based options, 11 individual-fund options, and 4 options consisting of the Putnam Absolute Return Funds. The 11 individual-fund options include several non-Putnam mutual funds.

Program Details
  • Summary: Launched in October 2010, Nevada's Putnam 529 for America advisor-sold 529 savings plan offers an age-based options, 3 goal-based options, 11 individual-fund options, and 4 options consisting of the Putnam Absolute Return Funds. The 11 individual-fund options include several non-Putnam mutual funds.
  • Program type: Savings
  • Program manager: Putnam Investments
  • State residency requirements: None
  • Maximum contributions: Accepts contributions until all 529 account balances in Nevada's 529 plans for the same beneficiary reach $370,000.
  • Minimum contributions: $25 minimum initial contribution, currently being waived.
  • Age-based investment options: The Age-Based Asset Allocation Investment Option contains 22 portfolios: newborn through age 21+. Contributions are allocated among 5 Putnam-managed asset-allocation portfolios based on the age of the beneficiary.
  • Static investment options: 3 goal-based options (Aggressive Growth, Growth, and Balanced), 4 Putnam Absolute Return Funds options, and 11 individual-fund options.
  • Underlying investments: Mutual funds from Putnam, MFS, Principal, Federated, Fidelity. and State Street.
  • Enrollment or application fee: None, but contributions may be subject to a sales charge depending on share class.
  • Account maintenance fee: $15 annual account maintenance fee for accounts with less than $25,000, waived for residents of Nevada, accounts in an automatic investment plan, or participants in particular corporate payroll deduction plans and affinity programs.
  • Program management fees: 0.10% administrative fee to the state, plus reimbursed expenses of up to 0.04%, plus distribution/servicing fees as follows:

    Money Market option: 0.25% (Class A), 0.25% (Class B), 0.50% (Class C)

    Absolute Return Funds 100 and 300: 0.25% (Class A), 0.45% (Class B), 1.00% (Class C)

    All other options: 0.25% (Classes A and D), 1.00% (Class B); 1.00% (Class C)

  • Expenses of the underlying investments: Ranges from 0.57% to 0.79% (portfolio weighted average) in the age-based and static multi-fund portfolios, and from 0.17% to 1.19% in the individual fund portfolios.
  • Total asset-based expense ratio: Class A: 0.56% - 1.58%
    Class B: 0.89% - 2.33%
    Class C: 1.14% - 2.33%
    Class D: 0.96% - 1.18%
  • Program match on contributions: None.
  • State tax deduction or credit for contributions: Not applicable. Nevada does not have a personal income tax.
  • Web site: Click here to visit
  • Telephone: 1-877-788-6265
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