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MT Pacific Funds 529 Coll Svgs Plan |
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State Provider: Montana; Net Assets ($mil):
$120.5 as of
10-31-09 |
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Montana's College Savings Plan is managed by Pacific Life Funds. Residents are eligible for the state's tax deduction on contributions of up to $3,000 per year per beneficiary ($6,000 if married, filing jointly), and can purchase A-shares directly, thus avoiding the broker-sold sales charge and the $25 annual account maintenance fee. The account maintenance fee is also waived for investors with account balances exceeding $25,000 and those using the automatic contribution program. However, the plan's offerings have above-average fees, which range from 0.96% to 1.47% (excluding the money market option) for the cheapest share class available. We're disappointed by the lack of flexibility as well. The majority of the plan's underlying funds are closed, which means that new investors can only choose from five static allocation portfolios and a money market fund. Residents with a short investment horizon may want to consider this plan for its tax benefits, but those with a longer investment horizon should shop around as they can likely recoup these benefits in cost savings through cheaper, more flexible plans. Non-state residents have no reason to shop here. (Information as of 03/03/2009) |
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| Availability: Sales Channel |
Resident: Both
Non-Resident: Broker
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| Annual State Tax Deduction |
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Up to $3,000 (S),
6,000 (J)
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| Max Investment/Beneficiary |
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$335,000 |
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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: 2 |
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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 |
| 529 Plan Avg |
0.8 |
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| Portfolio Expense Ratio Range |
| Fee to Change Beneficiary |
| Share Classes: Sales Charge |
| A:
5.5% (front-load) |
| B:
5% (deferred-load) |
| C:
1% (front-load) |
| C:
1% (deferred-load) |
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| Initial Purchase |
$500 |
$500 |
| Additional Purchase |
50 |
50 |
| Initial (AIP) |
50 |
50 |
| Additional (AIP) |
50 |
50 |
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