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LA State Tuition Assistance and Rev |
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State Provider: Louisiana; Net Assets ($mil):
$40.2 as of
02-29-04 |
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Residents should give Louisiana's 529 plan a look. For starters, contributions are state-tax deductible up to $2,400 per beneficiary ($4,800 for married couples filing jointly) and excess contributions may be carried forward to future tax years. As an added incentive, the state will match up to 14% of the participant's contributions, depending on residency, income levels, and the account owner's relationship with the beneficiary. We're particularly pleased the state doesn't add any extra fees to the underlying fund expenses. That makes this plan's investment options, which stick with sensible Vanguard mutual funds, some of the cheapest around. Total annual asset based fees for the plan's Vanguard offerings range from a rock-bottom 0.05% to 0.24% (the plan also offers a no-fee Louisiana State Treasurer-run principal protection option). However, the plan's lack of flexibility is bothersome (investors can only select one of the seven investment options at a time) and we think some options are overly conservative; nevertheless, tax incentives, low costs, and a generous matching program give Louisiana residents good reasons to consider investing in this plan. (Information as of 03/12/2009) |
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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 $2,400 (S),
4,800 (J)
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| Max Investment/Beneficiary |
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$259,720 |
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(includes appreciation)
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| Mos. to Qualified Withdrawal |
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| US Stock
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Bond |
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| Total International Funds: |
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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 |
| 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 |
$10 |
$10 |
| Additional Purchase |
10 |
10 |
| Initial (AIP) |
10 |
10 |
| Additional (AIP) |
10 |
10 |
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