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WI EdVest College Savings Program |
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State Provider: Wisconsin; Net Assets ($mil):
$1,260.5 as of
10-31-09 |
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Wisconsin's EdVest 529 plan--which is available directly or through financial advisors--has made some improvement in 2008, but it's still not a standout. Most significantly, the plan now includes additional portfolios to smooth out investment transitions in its three age-based tracks (the plan's previous age-based tracks had structurally awkward transitions between stocks and bonds). The plan also recently expanded its fixed-allocation choices by incorporating two CD options. Wisconsin residents can now contribute up to $330,000 per year (up from $246,000) to the plan (Badger State residents can still deduct up to $3,000 of contributions per beneficiary, per year, on their state income-taxes). Expenses have also come down a bit lately. Today, the plan's fees for both the direct- and broker-sold options are reasonable, and the $20 annual account fee is waived for Wisconsin residents and accounts with automatic investment or a balance of at least $25,000. The addition of a SAGE Scholars Tuition Rewards program that generates program points at a 5% annualized rate for use at approximately 200 select private colleges and universities (nine in Wisconsin) may be an incentive to some. These are all welcome changes, but unfortunately the plan still relies heavily on mediocre Wells Fargo funds, especially in the age-based options. We'd also like to see more individual options for do-it-yourself investors or those working with an advisor. (Information as of 04/01/2009) |
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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 $3,000 (S),
3,000 (J)
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| Max Investment/Beneficiary |
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$330,000 |
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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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| Aggressive Growth, Conservative Growth, Moderate Growth |
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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: 24 |
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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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0.4 |
| 529 Plan Avg |
0.8 |
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| Portfolio Expense Ratio Range |
| Fee to Change Beneficiary |
| Share Classes: Sales Charge |
| A:
2 – 5.75% (front-load) |
| B:
1.5 – 2.5% (deferred-load) |
| C:
1% (front-load) |
| C:
1% (deferred-load) |
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| Initial Purchase |
$250 |
$250 |
| Additional Purchase |
15 |
15 |
| Initial (AIP) |
15 |
15 |
| Additional (AIP) |
15 |
15 |
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