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IN CollegeChoice 529 Inv (Adv) |
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State Provider: Indiana; Net Assets ($mil):
$650.8 as of
09-30-09 |
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In 2008 Upromise took over the plan management duties of Indiana’s CollegeChoice Advisor 529 plan. The new plan has a solid line-up of funds and is well-rounded, but costs should be much lower. The plan now offers an age-based option that relies exclusively on low-cost iShares ETFs, but the program's steep 0.70% total administration fees erode the advantage of those inexpensive investment vehicles. In fact, the plans total administration fees--composed of management, distribution, marketing and state administration fees--are more than three times the cost of the underlying ETFs. The plan's individual fund choices--particularly the actively managed offerings--aren't a bargain either. Once brokerage fees are added to the mix, the plan’s combined expenses are even more unjustifiable. While Indiana residents do receive a 20% tax credit up to a maximum of $1,000 per year on contributions, we strongly suggest that residents seeking to take advantage of the tax benefits consider the state’s direct-sold CollegeChoice plan first. Nonresidents should continue shopping around for more reasonably priced options.(Information as of 03/24/2009) |
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| Availability: Sales Channel |
Resident: Broker
Non-Resident: Broker
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| Annual State Tax Deduction |
| Max Investment/Beneficiary |
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$298,770 |
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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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| 2010 Enrollment, 2013 Enrollment, 2016 Enrollment, 2019 Enrollment, 2022 Enrollment, 2025 Enrollment, College |
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Age-Based Portfolios
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| Static Portfolios and Self-Directed Funds |
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| US Stock
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Bond |
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| Total International Funds: 1 |
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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 |
0.45 |
| 529 Plan Avg |
0.8 |
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| Portfolio Expense Ratio Range |
| Fee to Change Beneficiary |
| Share Classes: Sales Charge |
| A:
3.75 – 5.25% (front-load) |
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| Initial Purchase |
$25 |
$25 |
| Additional Purchase |
25 |
25 |
| Initial (AIP) |
25 |
25 |
| Additional (AIP) |
25 |
25 |
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