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.
- 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