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AK John Hancock Freedom 529 |
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State Provider: Alaska; Net Assets ($mil):
$2,131.6 as of
10-31-09 |
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Alaska's broker-sold option is the John Hancock Freedom 529 Plan. John Hancock distributes the plan, but most of the funds are managed by top-notch fund families such as T. Rowe Price, American, PIMCO, and Davis. And we like that investors, including out-of-state investors, can choose from a variety of different portfolios, including age-based portfolios, static portfolios, lifestyle portfolios, and individual portfolios. All the same, we'd encourage investors to look at other options, including Alaska's direct-sold plans, before settling here. The plan's formerly hefty fees have come down to a more reasonable level, but some portfolios are still a bit pricey. For instance, the money market and short-term bond portfolios earn moderate returns, so the sizable 1% and 1.20% respective expense ratios are costly. (Information as of 02/17/2009) |
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| Availability: Sales Channel |
Resident: Broker
Non-Resident: Broker
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| Annual State Tax Deduction |
| Max Investment/Beneficiary |
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$320,000 |
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(includes appreciation)
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| Mos. to Qualified Withdrawal |
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Age-Based Portfolios
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| Static Portfolios and Self-Directed Funds |
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| US Stock
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Bond |
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| Total International Funds: 55 |
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| Underlying Funds’ Ratings |
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| Overall Morningstar Rating |
# Equity
Funds |
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# Bond
Funds |
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| Ratings as of
10-31-09 |
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| Range |
0.00
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4.4 |
| 529 Plan Avg |
0.8 |
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| Portfolio Expense Ratio Range |
| Fee to Change Beneficiary |
| Share Classes: Sales Charge |
| A:
5.25% (front-load) |
| B:
5% (deferred-load) |
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| Initial Purchase |
$1,000 |
$1,000 |
| Additional Purchase |
50 |
50 |
| Initial (AIP) |
50 |
50 |
| Additional (AIP) |
50 |
50 |
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