South Dakota's CollegeAccess 529 (Direct-sold) program is available only to those who meet certain South Dakota residency requirements, this 529 savings program features an age-based option, one fixed income static portfolio and two single fund portfolios.
- Summary: South Dakota's CollegeAccess 529 (Direct-sold) program is available only to those who meet certain South Dakota residency requirements, this 529 savings program features an age-based option, one fixed income static portfolio and two single fund portfolios.
- Program type: Savings
- Telephone: 1-866-529-7462
- Web site: Click here to visit
- Program manager: Allianz Global Investors Distributors LLC
- State residency requirements: The account owner or designated beneficiary must be a South Dakota resident at the time of program enrollment.
- Maximum contributions: Accepts contributions until all account balances in South Dakota's 529 plan for the same beneficiary reach $350,000.
- Minimum contributions: With lump-sum contributions, the minimum initial contribution is $250 per investment option, and the minimum subsequent contribution is $50 per investment option. With the automatic investment plan, the minimum contribution level is $50 per investment option per month.
- Age-based investment options: The Age-Based Option consists of 5 portfolios of underlying mutual funds. Contributions are placed into the portfolio corresponding to the age of the beneficiary or the anticipated years to matriculation, and later reassigned to more conservative portfolios as the beneficiary approaches college age.
- Static investment options: A multi-fund portfolio called the Diversified Bond Portfolio and 2 individual-fund portfolios, one invested in the PIMCO Real Return Fund, and one invested in the PIMCO All Asset Fund.
- Underlying investments: Allianz, Boston Company, Franklin Templeton, ING, NFJ, PIMCO, Royce, Thornburg, and TIAA-CREF.
- Enrollment or application fee: None.
- Account maintenance fee: None.
- Program management fees: None
- Expenses of the underlying investments: Ranges from 0.45% to 0.62% (portfolio weighed average) in the age-based and static portfolios, and 0.45% to 0.88% in the individual-fund portfolios. The program manager reimburses the investment portfolio to the extent the weighted average expense of the portfolio exceeds 0.65%.
- Total asset-based expense ratio: 0.45% - 0.88%
- Program match on contributions: None.
- State tax deduction or credit for contributions: Not applicable. South Dakota does not have a personal income tax.