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UT Educational Savings Plan Trust |
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State Provider: Utah; Net Assets ($mil):
$2,755.9 as of
10-31-09 |
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Utah's Educational Savings Plan is quite good in many respects. Expenses are impressively low, ranging from 0.22% to 0.34% in total asset-based fees. (Non-Utah residents pay a bit more in quarterly administrative charges.) Investors can choose from several different, well-constructed age-based plans, and they also have a handful of static portfolios with which to customize. The underlying funds are outstanding Vanguard index offerings that provide reasonable amounts of diversification, at least on the equity side. Although Utah does not offer a state tax deduction for in-state residents, the state does offer up to an $87 tax credit for individuals ($174 if married and filing jointly). The tax savings don't amount to much relative to other states. Still, taken as a whole, that's a minor drawback at an otherwise well-designed plan. The plan remains a solid choice for residents and nonresidents alike.(Information as of 02/26/2009) |
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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 $1,740 (S),
3,480 (J)
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| Max Investment/Beneficiary |
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$346,500 |
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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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| Option 2, Option 3, Option 7, Option 8, Option 9 |
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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: 37 |
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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 |
0.22 |
| 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 |
— |
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| Additional Purchase |
— |
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| Initial (AIP) |
— |
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| Additional (AIP) |
— |
— |
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