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Summary: At one time offering only Putnam mutual funds in its age-based and static portfolios, this 529 savings program now offers age-based and static portfolios with using a variety of money managers, as well as the FDIC insured Fifth Third 529 Savings Account and Fifth Third 529 Certificate of Deposits. The Putnam Stable Value restricted to Ohio residents while all other options are open to anyone. |
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Program type: Savings |
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Program manager: Ohio Tuition Trust Authority |
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State residency requirements: None |
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Maximum contributions: Accepts contributions until all 529 account balances in Ohio's 529 plans for the same beneficiary reach $331,000. |
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Minimum contributions: $25 ($500 for the Fifth Third CD option) |
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Age-based investment options: Two separate age-based options are offered. The Vanguard Age-Based Option offers a choice among three different risk levels (Aggressive, Moderate, and Conservative). Contributions are placed into one of five mutual-fund portfolios corresponding to the selected risk level and age of the beneficiary, and reassigned to more conservative portfolios as the beneficiary approaches college age. The Advantage Age-Based Option invests in four distinct asset class portfolios made up of existing CollegeAdvantage equity and fixed-income options with funds from Vanguard, PIMCO, OppenheimerFunds and GE Asset Management. Asset allocation is based on the age of the beneficiary and shifts toward more conservative options as the beneficiary approaches college age. |
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Static investment options: The Vanguard investment options consist of four multi-fund portfolios and eight individual-fund portfolios. The Fifth Third Bank options consist of certificates of deposit and a savings account. The remaining options include two PIMCO fixed-income funds, a small-cap option from OppenheimerFunds and an international option managed by GE Asset Management. A stable value option from Putnam is open available for Ohio residents only. |
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Underlying investments: Vanguard, PIMCO, OppenheimerFunds and GE Asset Management mutual funds; certificates of deposit and savings accounts from Fifth Third Bank. |
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Are program benefits backed by the full faith and credit of the state? No |
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Enrollment or application fee: None |
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Account maintenance fee: None |
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Program management fees: Multi-manager ("Advantage") age-based option: 0.16% - 0.17% manager fee including 0.13% - 0.15% fee to the state.
Vanguard age-based and static portfolios except Vanguard 500 Index Option: 0.19% manager fee including 0.15% fee to the state.
Vanguard 500 Index Option: 0.14% management fee including 0.10% fee to the state.
GE Asset Management option: 0.16% manager fee including 0.15% fee to the state.
PIMCO and OppenheimerFunds options: 0.15% fee to the state only.
Fifth Third options: No fees.
Putnam Stable Value Option (OH residents only): 0.15% wrapper fee and 0.01% audit fee. |
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Expenses of the underlying investments: Advantage multi-manager portfolios: Approximately 0.22% to 0.31%
Vanguard portfolios: Approximately 0.04% to 0.27%
PIMCO: Approximately 0.52% to 0.56%
OppenheimerFunds: Approximately 0.76%
GE Asset Management: Approximately 0.55%
Putnam Stable Value: 0.73%
Fifth Third options: None |
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Total asset-based expense ratio: 0.19% - 0.91%. None for Fifth Third options. |
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Program match on contributions: None |
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State tax deduction or credit for contributions: Contributions to any of Ohio's 529 plans of up to $2,000 per beneficiary per year are deductible in computing Ohio taxable income, with an unlimited carryforward of excess contributions. Contribution deadline is December 31. |
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Telephone: 1-800-233-6734 |
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Web site: Click here to visit |
