Oregon's MFS 529 Savings Plan, an advisor-sold 529 savings program features age-based and static portfolio options utilizing MFS mutual funds.
- Summary: Oregon's MFS 529 Savings Plan, an advisor-sold 529 savings program features age-based and static portfolio options utilizing MFS mutual funds.
- Program type: Savings
- Program manager: MFS Fund Distributors, Inc.
- State residency requirements: None
- Maximum contributions: Accepts contributions until all account balances in the program for the same beneficiary reach $310,000.
- Minimum contributions: With lump-sum contributions, the minimum initial contribution is $250. There is no minimum for subsequent contributions or for contributions into the automatic contribution plan.
- Age-based investment options: The Age-Based Investment Option contains 5 portfolios of underlying mutual funds. Contributions are placed into the portfolio corresponding to the beneficiary's age, and later reassigned to more conservative portfolios as the beneficiary approaches college age.
- Static investment options: Select among 4 multi-fund options (Aggressive Growth, Growth, Moderate, and Conservative) and 14 individual-fund options.
- Underlying investments: MFS mutual funds.
- Enrollment or application fee: None, but contributions may be subject to a sales charge depending on share class.
- Account maintenance fee: $25 annually for accounts with less than $25,000, waived for Oregon residents.
- Program management fees: 0.10% management fee (includes state portion with 0.05% waiver in effect), plus distribution/servicing fees of 0.25% (Class 529A) or 1.00% (Classes 529B and 529C). The management fee has been waived from 0.10% to 0.05% with waiver end dates ranging from March 2015 to December 2015, depending upon the portfolio.
- Expenses of the underlying investments: Ranges from 0.40% to 0.77% in the age-based and static multi-fund portfolios (portfolio weighted averages), and from 0.33% to 0.93% in the individual-fund portfolios. Additonal waivers are in effect with end dates ranging from August 2015 to December 2015 for the Aggressive Growth Allocation Fund, International Diversification Fund, Lifetime Income Fund, Mid Cap Growth Fund, MFS Value Fund, Research International Fund, Limited Maturity Fund, Total Return Bond Fund, and Cash Reserve Fund.
- Total asset-based expense ratio: Class A: 0.70% - 1.44%
Class B: 1.53% - 2.19%
Class C: 1.55% - 2.19%
- Program match on contributions: None.
- State tax deduction or credit for contributions: Contributions to an Oregon 529 plan of up to $2,265 (for 2014) by an individual, and up to $4,530 by a married couple filing jointly, are deductible in computing Oregon taxable income, with a four-year carryforward of excess contributions. The limits are to be adjusted each year for inflation. Contribution deadline is April 15 of the following year.
- Web site: Click here to visit
- Telephone: 1-866-637-7526