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OH CollegeAdvantage 529 Savings Pla |
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State Provider: Ohio; Net Assets ($mil):
$1,262.8 as of
10-31-09 |
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The Ohio CollegeAdvantage Savings Plan continues to improve and has evolved into a topnotch program. This direct-sold plan's structure is unique among competing 529 plans because the Ohio Tuition Trust Authority is not only the plan sponsor but also the program manager. (Most plans contract with a mutual fund firm to handle program management.) This arrangement gives the OTTA more freedom to choose virtually any mutual fund for its plan--and conversely, to jettison lackluster funds. The state replaced all of its mediocre Putnam offerings with solid actively managed funds from Vanguard, PIMCO, Oppenheimer, and GE Asset Management. The new Advantage Age-Based Option uses these much stronger underlying funds and is offered in addition to the existing all-index age-based portfolios from Vanguard. The plan also cut fees even further; investors pay 0.23% to 0.47% for the age-based options, 0.24% to 0.46% for the static options, and 0.23% to 0.91% for individual fund options. A state income-tax deduction on contributions of up to $2,000 a year for each beneficiary--with unlimited carryforward in future years until the full amount is deducted--makes the plan an especially compelling choice for residents. The strong investment options, low costs, and good flexibility make this plan tough to beat for Ohio residents and out-of-staters alike.(Information as of 03/02/2009) |
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| Availability: Sales Channel |
Resident: Both
Non-Resident: Broker
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| Annual State Tax Deduction |
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Up to $2,000 (S),
2,000 (J)
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| Max Investment/Beneficiary |
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$331,000 |
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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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| Vanguard Aggressive, Vanguard Conservative, Vanguard Moderate |
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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: 23 |
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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 |
0.05
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0.19 |
| 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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