 |
|
|
| |
OK College Savings Plan |
|
| |
State Provider: Oklahoma; Net Assets ($mil):
$314.6 as of
10-31-09 |
|
| |
|
|
|
 |
|
|
| |
Oklahoma's College Savings Plan has some worthwhile qualities. State residents can deduct up to $10,000 ($20,000 for joint filers) in contributions annually from their taxable income and excess contributions may be carried forward for as many as five years. Also, the plan doesn't charge any application or account maintenance fees. The program offers some flexibility with an age-based track, four static allocation portfolios, and a guaranteed option. The age-based offering is well-diversified, providing broad exposure to various types of securities including real estate and inflation-linked securities. It falls on the conservative side, though, with an initial 20% bond allocation (72% of assets are invested in domestic and international index funds and 8% are invested in real estate securities). The equity-only (actively-managed and index options are available with a 20% international exposure), fixed-income-only, and balanced funds allow investors to better customize their plans. Unfortunately, the plan's costs undercut its appeal. The annual asset-based fees range from 0.79% to 1.01% (a 0.65% program management fee included), which are hefty levies given that the funds rely primarily on low-cost index strategies. Residents may want to take a look at this plan since the state offers nice tax incentives. However, everyone else should shop around. Those seeking an index-oriented plan should take a look at the cheaper, more flexible Michigan Education Savings Program, which is also managed by TIAA-CREF.(Information as of 03/25/2009) |
|
|
 |
|
|
|
|
| |
| Availability: Sales Channel |
Resident: Direct
Non-Resident: Direct
|
|
| Annual State Tax Deduction |
|
Up to $10,000 (S),
20,000 (J)
|
|
| Max Investment/Beneficiary |
|
$300,000 |
|
(includes appreciation)
|
|
| Mos. to Qualified Withdrawal |
|
Public, Private & International
|
|
|
|
|
Age-Based Portfolios
|
| Static Portfolios |
|
| US Stock
|
|
Bond |
|
|
|
|
| Total International Funds: 19 |
|
|
|
|
|
|
|
|
| |
| Underlying Funds’ Ratings |
|
|
|
|
|
|
|
|
|
|
|
|
| |
| Overall Morningstar Rating |
# Equity
Funds |
|
# Bond
Funds |
|
|
| Ratings as of
10-31-09 |
|
|
|
|
|
|
|
|
| Range |
0.00
–
0.65 |
| 529 Plan Avg |
0.8 |
|
|
|
|
| Portfolio Expense Ratio Range |
| Fee to Change Beneficiary |
| Share Classes: Sales Charge |
|
|
|
|
|
| Initial Purchase |
$100 |
$100 |
| Additional Purchase |
25 |
25 |
| Initial (AIP) |
15 |
15 |
| Additional (AIP) |
15 |
15 |
|
|
|
|
|
