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RI CollegeBoundfund |
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State Provider: Rhode Island; Net Assets ($mil):
$6,887.7 as of
10-31-09 |
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AllianceBernstein manages this plan, but residents can avoid the sales charge by investing directly. They can also deduct up to $500 from annual state taxes ($1,000 for joint filers), and some may be eligible for third-party matching contributions. The plan offers plenty of flexibility with static, age-based, and individual fund portfolios, but some of the underlying funds are lackluster. Still, with total annual asset-based fees ranging 0.37% to 1.18% for in-state investors, the plan is still worth a look for residents. Unfortunately, steeper fees erode the plan's appeal for out-of-staters. Rhode Island charges a $25 annual fee for nonresident accounts with less than $25,000 that don't participate in an automatic contribution plan, and total annual asset-based fees range from 0.80% to 1.43% for A-shares, on top of broker charges. Expenses are an important consideration: Morningstar research suggests they are the best predictors of future returns. With that in mind, we suggest nonresidents consider other options instead. (Information as of 02/19/2009) |
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| Availability: Sales Channel |
Resident: Both
Non-Resident: Both
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| Annual State Tax Deduction |
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Up to $500 (S),
1,000 (J)
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| Max Investment/Beneficiary |
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$365,000 |
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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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| A, AX, B, BX, C, CX, R, RA, RZ |
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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: 17 |
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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 |
0.00
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0.94 |
| 529 Plan Avg |
0.8 |
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| Portfolio Expense Ratio Range |
| Fee to Change Beneficiary |
| Share Classes: Sales Charge |
| A:
4.25% (front-load) |
| AX:
3.25% (front-load) |
| B:
4% (redemption) |
| B:
4% (deferred-load) |
| BX:
2.5% (deferred-load) |
| C:
1% (redemption) |
| C:
1% (deferred-load) |
| CX:
1% (deferred-load) |
| RZ:
4% (front-load) |
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| Initial Purchase |
$1,000 |
$250 |
| Additional Purchase |
50 |
50 |
| Initial (AIP) |
— |
— |
| Additional (AIP) |
50 |
50 |
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