College & Career

Pennsylvania

Pennsylvania 529 Investment Plan
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Summary

The Pennsylvania 529 Investment Plan switched to Pennsylvania Treasury Department as program manager in July 2010 but still uses Upromise Investment Advisors, which was acquired by Ascensus College Savings in 2013, as recordkeeper and Vanguard as investment manager. The program features 3 age-based investment options and 10 static investment options, including a socially responsible equity portfolio, using Vanguard-managed portfolios. Accounts can be linked to the Upromise rewards service.

Program Details
  • Summary: The Pennsylvania 529 Investment Plan switched to Pennsylvania Treasury Department as program manager in July 2010 but still uses Upromise Investment Advisors, which was acquired by Ascensus College Savings in 2013, as recordkeeper and Vanguard as investment manager. The program features 3 age-based investment options and 10 static investment options, including a socially responsible equity portfolio, using Vanguard-managed portfolios. Accounts can be linked to the Upromise rewards service.
  • Program type: Savings
  • Program manager: Pennsylvania Treasury Department, with Ascensus College Savings as record-keeper and servicing agent, and Vanguard as investment manager.
  • State residency requirements: None
  • Maximum contributions: Accepts contributions until all account balances in Pennsylvania's 529 plans for the same beneficiary reach $452,210.
  • Minimum contributions: $25 per transaction, or $15 per transaction via payroll deduction. $25 minimum contribution through Ugift.
  • Age-based investment options: The Age-Based Options offer a choice between 3 risk levels (Conservative, Moderate, and Aggressive) each containing 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 6 multi-fund portfolios (Aggressive Growth, Growth, Moderate Growth, Conservative Growth, Income, and Conservative Income) and 4 individual-fund portfolios (Total Stock Market Index, Social Index, Inflation Protected Securities, and Money Market).
  • Underlying investments: Vanguard mutual funds
  • Enrollment or application fee: None.
  • Account maintenance fee: $18 annually, waived for accounts that have elected electronic delivery of all documents.
  • Program management fees: 0.34%, consisting of 0.07% fee to the Commonwealth and 0.27% combined fee to Upromise and Vanguard
  • Expenses of the underlying investments: Ranges from 0.02% - 0.16%
  • Total asset-based expense ratio: 0.36% - 0.50%
  • Program match on contributions: None.
  • State tax deduction or credit for contributions: Contributions to Pennsylvania AND non-Pennsylvania 529 plans of up to the gift-tax annual exclusion amount ($14,000 in 2014) per beneficiary are deductible in computing Pennsylvania taxable income. Spouses filing jointly must each have at least $14,000 in income to claim the maximum $28,000 per-beneficiary deduction. Rollovers from another 529 plan or from qualified U.S. savings bonds are not eligible for the deduction.
  • Web site: Click here to visit
  • Telephone: 1-800-440-4000
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