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OR MFS 529 Savings Plan |
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State Provider: Oregon; Net Assets ($mil):
$386.6 as of
10-31-09 |
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Investors should take a pass on this broker-sold plan. Although Oregon residents are eligible to deduct up to $2,000 per year in contributions from their state income taxes ($4,000 for married couples filing jointly), they'd be better off investing in other plans. The plan is administered and consists entirely of underlying funds from troubled fund shop MFS. Not only was MFS caught up in the fund industry market-timing scandal a few years back, but the shop has a reputation for high fees and lackluster performance. That's certainly the case here. The cost of the plan's age-based option ranges from 0.85% to 1.40% of assets in annual fees (in addition to broker sales charges), which includes a 0.35% servicing fee that's well above the industry norm. Residents and nonresidents alike can find better options elsewhere.(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 $2,085 (S),
4,170 (J)
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| Max Investment/Beneficiary |
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$310,000 |
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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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| 529C, A, B, C, EA, EB, EC |
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| US Stock
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Bond |
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| Total International Funds: 6 |
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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 |
0.10
–
0.35 |
| 529 Plan Avg |
0.8 |
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| Portfolio Expense Ratio Range |
| Fee to Change Beneficiary |
| Share Classes: Sales Charge |
| 529C:
1% (deferred-load) |
| A:
2.5 – 5.75% (front-load) |
| B:
4% (deferred-load) |
| C:
1% (redemption) |
| C:
1 – 4% (deferred-load) |
| EA:
5.75% (front-load) |
| EB:
4% (deferred-load) |
| EC:
1% (deferred-load) |
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| Initial Purchase |
$250 |
$250 |
| Additional Purchase |
— |
— |
| Initial (AIP) |
— |
— |
| Additional (AIP) |
— |
— |
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