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WV Hartford SMART529 College Saving |
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State Provider: West Virginia; Net Assets ($mil):
$894.4 as of
10-31-09 |
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The Hartford Smart 529 Plan, available as a broker-sold option to residents and non-residents alike, is not a bad choice, but we wish costs were lower. Fees are not cheap, ranging from 1.02% to 1.31% for age-based and static options and 0.88% to 1.69% for individual fund portfolios. The underlying funds, the majority of which come from Hartford, are generally respectable and the plan has decent diversification, with international and small-cap offerings included in the portfolios. However, we wish there was more flexibility for those who want to go the age-based route. The plan's single age-based line-up allocates 25% to equity for a college-aged beneficiary, which may be too bold for some. West Virginia residents enjoy generous tax benefits (residents can deduct all their contributions from their state income taxes) and have a reasonable choice here. Non-residents should shop around for a less expensive plan. (Information as of 03/10/2009) |
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| Availability: Sales Channel |
Resident: Both
Non-Resident: Broker
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| Annual State Tax Deduction |
| Max Investment/Beneficiary |
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$265,620 |
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(includes appreciation)
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| Mos. to Qualified Withdrawal |
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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: 70 |
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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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4.25 |
| 529 Plan Avg |
0.8 |
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| Portfolio Expense Ratio Range |
| Fee to Change Beneficiary |
| Share Classes: Sales Charge |
| A:
3 – 5.5% (front-load) |
| B:
5% (deferred-load) |
| C:
1% (deferred-load) |
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| Initial Purchase |
$250 |
$50 |
| Additional Purchase |
25 |
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| Initial (AIP) |
25 |
15 |
| Additional (AIP) |
25 |
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