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HI529 – Hawaii’s College Savings Pr |
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State Provider: Hawaii; Net Assets ($mil):
$41.6 as of
10-31-09 |
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In November 2007, Hawaii joined the ranks of states turning to Upromise and Vanguard to manage and administer their 529 plan, which was formerly run by Delaware Investments. The Delaware funds have been replaced by a lineup of tried and true Vanguard offerings. The hitch, though, is that at a flat rate of 0.75% in annual fees on assets (roughly 70%-90% of which goes to Upromise), the plan is more expensive than similar alternatives in Iowa and Missouri. Investors can find even cheaper and more flexible Vanguard options in Utah and Ohio, or at the firm's own Nevada plan. This plan has nothing to offer out-of-staters, and since Hawaii residents don't receive any state tax benefits by opting for this plan, they have every incentive to explore cheaper, better alternatives.(Information as of 03/09/2009) |
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| Availability: Sales Channel |
Resident: Both
Non-Resident: Both
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| Annual State Tax Deduction |
| Max Investment/Beneficiary |
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$305,000 |
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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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| US Stock
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Bond |
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| Total International Funds: 3 |
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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 |
0.51
–
0.69 |
| 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 |
$15 |
$15 |
| Additional Purchase |
15 |
15 |
| Initial (AIP) |
15 |
15 |
| Additional (AIP) |
15 |
15 |
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