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WI Tomorrows Scholar |
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State Provider: Wisconsin; Net Assets ($mil):
$798.5 as of
10-31-09 |
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Wisconsin's Tomorrow's Scholar College-Savings Plan is lackluster at best. The plan is available only through advisors and contains seven fixed-allocation offerings and three age-based tracks. The first knock against this plan is the lack of single fund options (although the fund does offer a money market option). This is a particular problem in broker-sold plans, because it limits the ability of advisors to construct personalized portfolios to suit the individualized needs of their clients. Another knock against the plan is the mediocre quality of the underlying investments, the majority of which are Wells Fargo funds. The plan is also hindered by high fees. Though Wisconsin residents can deduct up to $3,000 of contributions per beneficiary, per year, on their state income taxes, investors pay anywhere from 0.71% to 1.44% (for A-shares) on top of broker charges and a $20 annual account fee. (The annual account fee is waived, however, for those accounts with automatic investment or a balance of at least $25,000.) Residents interested in the state’s tax breaks should consider Wisconsin's EdVest Plan - while imperfect, it at least offers additional investment options with significantly lower expenses. Nonresidents using an advisor should look to other states. (Information as of 04/01/2009) |
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| Availability: Sales Channel |
Resident: Broker
Non-Resident: Broker
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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, Conservative, Moderate |
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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: 112 |
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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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0.3 |
| 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:
2.5% (deferred-load) |
| C:
1% (deferred-load) |
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| Initial Purchase |
$250 |
$250 |
| Additional Purchase |
25 |
25 |
| Initial (AIP) |
25 |
25 |
| Additional (AIP) |
25 |
25 |
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