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ID College Savings Program (IDeal) |
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State Provider: Idaho; Net Assets ($mil):
$142.3 as of
10-31-09 |
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In December 2007, Upromise replaced TIAA-CREF as the provider for Idaho's College Savings Program (IDeal). As a result, the investment options are now comprised of Vanguard-managed index funds. Residents are eligible for the state's tax deduction on contributions of up to $4,000 per year per beneficiary ($8,000 for joint filers). The plan's annual $20 account fee is waived for residents as well. The new plan offers more flexibility, with three age-based tracks (aggressive, moderate, and conservative), five static allocation portfolios, and a money market fund. Overall, these options are well diversified, providing broad exposure to various types of securities including international stocks and inflation-protected bonds. The plan charges 0.75% in annual asset-based fees though, which is too pricy given its reliance on index strategies. The state tax deduction makes this plan a good choice for residents, however, out-of-state investors should look for cheaper alternatives, such as Utah's Educational Savings Plan Trust, which is also filled with Vanguard index funds. (Information as of 03/04/2009) |
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| Availability: Sales Channel |
Resident: Direct
Non-Resident: Direct
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| Annual State Tax Deduction |
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Up to $4,000 (S),
8,000 (J)
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| Max Investment/Beneficiary |
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$310,000 |
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(includes appreciation)
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| Mos. to Qualified Withdrawal |
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Public, Private & International
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| US Stock
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Bond |
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| Total International Funds: 4 |
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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 |
0.75 |
| 529 Plan Avg |
0.8 |
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| Portfolio Expense Ratio Range |
| Fee to Change Beneficiary |
| Share Classes: Sales Charge |
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| Initial Purchase |
$25 |
$25 |
| Additional Purchase |
25 |
25 |
| Initial (AIP) |
25 |
25 |
| Additional (AIP) |
25 |
25 |
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