This deeply flawed plan is no longer available to new investors. Although no supplement to the program description has been made available, a note on the Arizona Family College Savings Program website states that the plan is no longer accepting new accounts--though current shareholders can remain with this option. This has been confirmed separately by SM&R. While we applaud the decision to close this costly and poorly constructed plan, we're also puzzled that the state would allow current shareholders to stay and would strongly urge those investors to seek out better alternatives elsewhere.(Information as of 10/20/2006)
Plan
Features
Plan Inception Date
06-29-99
Availability: Sales Channel
Resident: Both
Non-Resident: Both
Annual State Tax Deduction
None
Beneficiary Age Limit
—
Max Investment/Beneficiary
$289,000
(includes appreciation)
Mos. to Qualified Withdrawal
—
Qualified Schools
Public & Private
Available Tracks
—
Available Share Classes
Other, A, B
Plan
Diversification
Self-Directed Funds
Underlying
Funds’ Style
US Stock
Bond
2
2
4
5
Total International Funds: 0
Underlying Funds’ Ratings
Fees
& Expenses
Overall Morningstar Rating
# Equity Funds
# Bond Funds
—
—
—
—
—
—
—
—
—
—
—
—
Ratings as of
09-30-09
Management Fee
%
Range
0
529 Plan Avg
0.8
Enrollment Fee
$10
Annual Maintenance Fee
—
Portfolio Expense Ratio Range
0.5 –
2.39%
Fee to Change Beneficiary
—
Share Classes: Sales Charge
A:
4.75 – 5% (front-load)
B:
3 – 5% (deferred-load)
Minimum
Contributions
Non-Resident
Resident
Initial Purchase
$500
$500
Additional Purchase
50
50
Initial (AIP)
100
100
Additional (AIP)
20
20
Contact Information
Program Manager
Plan Address
SMR Family College Svgs 2450 S. Shore Blvd. Suite 120 League City, TX
77573 (800) 231-4639
