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NV USAA College Savings Plan |
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State Provider: Nevada; Net Assets ($mil):
$670.9 as of
12-31-09 |
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This USAA members-only college savings plan is a decent actively-managed option. In October 2006, USAA overhauled the cost structure at the plan, eliminating the flat 1.1% fee in favor of one that charges investors roughly the cost of the underlying funds plus a $15 annual state account maintenance fee (and a $15 minimum account fee for those who don't use an automatic investment program and have less than $5,000 in their account). The beauty here is simplicity; there's no program manager fee or state fee on top of the underlying investments that are tied to the level of assets. Investors know exactly what they're paying for, and those that merely invest the minimum required end up paying reasonable overall costs--while those that invest more can save by not paying higher administrative costs. Expense ratios range from 0.65% for the most conservative option to 0.95% for the most aggressive. The underlying funds themselves, which in the case of the equity options are subadvised by other managers, are decent though not great. Although nothing is keeping residents pinned to their home state choices, since Nevada doesn't levy a state income-tax, this plan is competitive with most direct-sold, actively-managed options available across the country.(Information as of 04/09/2009) |
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| Availability: Sales Channel |
Resident: Direct
Non-Resident: Direct
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| Annual State Tax Deduction |
| Max Investment/Beneficiary |
| Mos. to Qualified Withdrawal |
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Public, Private & International
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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: 16 |
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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
12-31-09 |
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| Range |
0.65
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0.95 |
| 529 Plan Avg |
0.41 |
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| Portfolio Expense Ratio Range |
| Fee to Change Beneficiary |
| Share Classes: Sales Charge |
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| Initial Purchase |
$250 |
$250 |
| Additional Purchase |
50 |
50 |
| Initial (AIP) |
50 |
50 |
| Additional (AIP) |
50 |
50 |
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