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SD CollegeAccess 529 |
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State Provider: South Dakota; Net Assets ($mil):
$708.4 as of
10-31-09 |
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This Allianz-managed plan, which is available directly only to South Dakota residents, has low fees and decent, though limited, choices. Investors are charged just for the underlying funds, which in most cases are in the form of reasonable-priced institutional share classes. Plus, South Dakota is currently capping the fees of its direct-sold option at a cheap 0.65% (this fee ceiling can be removed at any time). Although dull, the fee advantage is an important consideration, since expenses come directly out of investors' returns. In terms of quality, there are some weak links in the line-up, but the majority of the underlying funds are strong performers. Our biggest issue with this plan is a lack of individual fund options for do-it-yourself investors or those wanting to augment the age-based choices. The plan only offers two individual fund options, despite the sizable number of funds utilized in the age-based options and in the advisor sold plan. South Dakota investors have decent and inexpensive options here, but if they want more flexibility, we suggest they look elsewhere. (Information as of 02/26/2009) |
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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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$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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| A, B, C, CII, SD-A, SD-C, SD-D, SDA, SDC, SDCII, SDD |
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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: 156 |
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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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4.7 |
| 529 Plan Avg |
0.8 |
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| Portfolio Expense Ratio Range |
| Fee to Change Beneficiary |
| Share Classes: Sales Charge |
| A:
3.75 – 5.5% (front-load) |
| B:
3.5 – 5% (deferred-load) |
| C:
1% (deferred-load) |
| CII:
1% (deferred-load) |
| SD-A:
5.5% (front-load) |
| SD-C:
1% (deferred-load) |
| SDA:
3.75 – 5.5% (front-load) |
| SDC:
1% (deferred-load) |
| SDCII:
1% (deferred-load) |
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| Initial Purchase |
$1,000 |
$1,000 |
| Additional Purchase |
50 |
50 |
| Initial (AIP) |
250 |
250 |
| Additional (AIP) |
50 |
50 |
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