The Ohio BlackRock CollegeAdvantage 529 Plan is an advisor-sold 529 savings program offering three age-based options, three target-risk options, 11 single-fund options featuring BlackRock mutual funds, 3 single-fund options featuring iShares exchange-traded funds, and 3 single-fund options featuring other fund families.
- Summary: The Ohio BlackRock CollegeAdvantage 529 Plan is an advisor-sold 529 savings program offering three age-based options, three target-risk options, 11 single-fund options featuring BlackRock mutual funds, 3 single-fund options featuring iShares exchange-traded funds, and 3 single-fund options featuring other fund families.
- Program type: Savings
- Program manager: BlackRock Advisors, LLC
- State residency requirements: None
- Maximum contributions: Accepts contributions until all 529 account balances in Ohio's 529 plans for the same beneficiary reach $414,000.
- Minimum contributions: The minimum initial contribution is $25 per investment option and the minimum subsequent contribution is $25.
- Age-based investment options: The Age-Based Options offer a choice between 3 risk levels (Aggressive, Moderate, and Conservative). Each contains 5 age bands comprised of between 13 and 14 underlying mutual funds. Contributions are placed into the portfolio corresponding to the selected risk level and the age of the beneficiary. The portfolios shift to a more conservative investment allocation over time.
- Static investment options: Select among 3 Target-Risk Investment Options (Aggressive Growth, Growth and Moderate) and 15 Single Strategy Investment Options, including 9 equity portfolios, two balanced portfolios, 5 fixed income portfolios, and a money market portfolio.
- Underlying investments: Mutual funds from BlackRock, Rainier, Voya, Wells Fargo and iShares ETFs.
- Enrollment or application fee: None, but contributions may be subject to a sales charge depending on share class.
- Account maintenance fee: $25 annually; waived if account owner is a resident of Ohio, the balance of all accounts with the same account owner and beneficiary is $25,000 or more, or the account owner makes periodic contributions via Automatic Investment Plan or payroll deduction.
- Program management fees: 0.23% (includes 0.04% fee to the state), plus distribution/servicing fees of 0.25% (Class A) or 1.00% (Class C).
- Expenses of the underlying investments: Ranges from 0.07% to 1.21%.
- Total asset-based expense ratio: Class A: 0.55% - 1.69%
Class C: 1.30% - 2.44%
- Program match on contributions: None.
- State tax deduction or credit for contributions: Contributions, including rollover contributions, to a Ohio 529 plan of up to $2,000 per beneficiary per year (any filing status) are deductible in computing Ohio taxable income, with an unlimited carryforward of excess contributions. Contribution deadline is December 31.
- Web site: Click here to visit
- Telephone: 1-866-529-8582