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WV Direct SMART529 |
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State Provider: West Virginia; Net Assets ($mil):
$79.8 as of
10-31-09 |
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This plan is the direct-sold version of the Hartford Smart529 College Savings Plan and is available only to West Virginia residents. Costs are low, with total fees ranging from 0.39% (for an index option) to 1.03%. The underlying funds, most of which come from Hartford, are respectable. We also like the plan's exposure to international and small-cap offerings. The flexibility, however, could stand some improvements. The single age-based option may be too risky for some--it allocates one-quarter of assets to equities for a college-aged beneficiary. Also, investors interested in custom-making their plans have only two individual fund options to choose from (despite the sizable number of individual funds being used in the age-based options). Nevertheless, with generous tax benefits to boot (residents can deduct all their contributions from their state income taxes), we think this plan presents the Mountain State with a sensible choice. (Information as of 03/10/2009) |
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| Availability: Sales Channel |
| Annual State Tax Deduction |
| Max Investment/Beneficiary |
| Mos. to Qualified Withdrawal |
| Age Based Portfolio 0-8, Age Based Portfolio 14-18, Age Based Portfolio 19+, Age Based Portfolio 9-13 |
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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: 23 |
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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 |
0.20
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0.3 |
| 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 |
$50 |
$50 |
| Additional Purchase |
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| Initial (AIP) |
15 |
15 |
| Additional (AIP) |
15 |
15 |
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