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VA Educational Savings Trust |
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State Provider: Virginia; Net Assets ($mil):
$1,194.0 as of
10-31-09 |
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The Virginia Education Savings Trust plan is one of two strong choices for Virginians. For those who want predetermined age-based portfolios that shift assets automatically to become more conservative as a beneficiary approaches college age, this is the way to go. The age-based tracks provide a mix of Vanguard index funds as well as actively run funds from Capital Research (advisor to the American Funds) and fixed-income shop Western Asset Management. Investors can also choose from a diverse group of nine static portfolios, all from Vanguard, including an inflation-protected securities fund and a REITs index. Also, Virginians can now deduct up to $4,000 of contributions from their state income tax each year, with unlimited carryforward of excess amounts in future years. That doubles last year's annual deduction cap of $2,000, sweetening the pot for in-state residents. With total annual costs running from 0.30% to 0.53% (plus a $25 application fee), this is one of the cheapest plans in the country. Thus, it holds appeal for residents and nonresidents alike.(Information as of 03/13/2009) |
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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 $4,000 (S),
4,000 (J)
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| Max Investment/Beneficiary |
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$350,000 |
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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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| Alleghany, Blue Ridge, Chesapeake, Eastern Shore, Highlands, Piedmont, Potomac, Shenandoah, Southside, Tidewater |
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Age-Based Portfolios
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| Static Portfolios |
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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 |
0.25 |
| 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) |
— |
— |
| Additional (AIP) |
— |
— |
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