Oklahoma Dream 529 Plan, an advisor-sold 529 savings plan, managed by TIAA-CREF Tuition Financing, Inc. and Allianz Global Investors Distributors LLC, features 20 mutual fund portfolios from 9 different money managers.
- Summary: Oklahoma Dream 529 Plan, an advisor-sold 529 savings plan, managed by TIAA-CREF Tuition Financing, Inc. and Allianz Global Investors Distributors LLC, features 20 mutual fund portfolios from 9 different money managers.
- Program type: Savings
- Program manager: TIAA-CREF Tuition Financing, Inc. and Allianz Global Investors Distributors LLC
- State residency requirements: None
- Maximum contributions: Accepts contributions until all account balances in Oklahoma 529 plans for the same beneficiary reach $300,000.
- Minimum contributions: With lump-sum contributions, the minimum initial contribution is $1,000 (with at least $250 per investment option), and the minimum subsequent contribution is $50 per investment option. With the automatic investment plan, the minimum initial contribution is $250 and the minimum contribution level is $50 per investment option per month.
- Age-based investment options: The Age-Based option contains 6 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 2 multi-fund portfolios (Capital Appreciation and Capital Preservation) and 12 individual-fund portfolios. The 6 portfolios in the age-based option are also available as static investments.
- Underlying investments: Mutual funds manged by Allianz-affiliated companies, PIMCO and TIAA-CREF.
- Enrollment or application fee: None, but contributions may be subject to a sales charge depending on share class.
- Account maintenance fee: $5 quarterly for accounts with less than $20,000, waived with automatic contributions, or if total of all accounts with the same account owner equals or exceeds $50,000.
- Program management fees: Program manager fee: 0.50%
Servicing and administrative fee: 0.25% (0.10% for Money Market option)
Class A distribution fee: None
Class C distribution fee: 0.75% (none for Money Market option)
- Expenses of the underlying investments: Ranges from 0.45% to 0.60% (portfolio weighted average) in the age-based, 0.47% to 0.61% in the static multi-fund portfolios, and from 0.07% to 1.01% in the individual-fund portfolios.
- Total asset-based expense ratio: Class A: 0.74% - 1.76%
Class C: 0.74% - 2.51%
- Program match on contributions: None.
- State tax deduction or credit for contributions: Contributions to Oklahoma's 529 plans, including rollover contributions, of up to $10,000 per year for an individual taxpayer, and up to $20,000 per year for a married couple filing jointly, are deductible in computing Oklahoma taxable income, with a five-year carryforward of excess contributions. Contribution deadline is April 15 of the following year.
- Web site: Click here to visit
- Telephone: 1-877-529-9299