Kansas 529 Plan
From Bogleheads
- Open to Residents
- Open to non-residents
Program match on contributions:' Under a 3-year pilot program beginning in 2006, the state will match on a dollar-for-dollar basis contributions above $100 and up to $600 per year by Kansas residents with household incomes below 200% of the federal poverty income level. The program is limited to 200 participants from each of Kansas’ 4 Congressional districts in 2007 and 300 participants from each of Kansas’ 4 Congressional districts in 2008.
State tax deduction or credit for contributions: Contributions to any Kansas or non-Kansas state-sponsored 529 plan of up to $3,000 per beneficiary per year for an individual taxpayer, and $6,000 per beneficiary per year for a married couple filing jointly, are deductible in computing Kansas taxable income. Prior to 2007, the deduction was limited to contributions made only to a Kansas 529 plan. Rollover contributions are not deductible. Contribution deadline is December 31.
State tax recapture provisions: The principal portion of nonqualified withdrawals from this plan are included in Kansas taxable income to the extent of prior Kansas tax deductions. Rollovers are not subject to recapture.
Age-based investment options:
The program offers an index age-based track that invests primarily in Vanguard index funds (American Century Money Market fund is the only non-Vanguard fund). Accounts will move through one or more of three age-based portfolios and eventually end in the Short-Term portfolio.
Static investment options: Select among 14 options: four Vanguard index fund portfolios, a 100% Equity portfolio invested in American Century mutual funds, a Money Market portfolio invested in American Century funds, the six multi-fund portfolios used in the age-based tracks, and the LIVESTRONG™ 2015 and LIVESTRONG™ 2025 Portfolios. The two LIVESTRONG™ portfolios have a defined target year and as that date approaches, the asset mix of the underlying funds will change to a more conservative focus following a pre-set schedule. The underlying funds do not invest in any tobacco-related companies, and American Century Investments will make a contribution to the Lance Armstrong Foundation based on assets in the portfolios.
Single Portfolios
| Total Growth Index Portfolio (ER 0.28%) | Balanced Index Portfolio (ER 0.27%) | Stand-alone Portfolios
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Expenses: 0.25% - 1.06%
See also
529 Plan Pages
- 529 Plans
- 529 Plans Indexed Options
- 529 Plan Account Transfers
- 529 Plan Recapture Tax on Rollovers
- Collegesure 529 Tuition Indexed Programs
Links
How to Cite
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Please see [url=http://www.bogleheads.org/wiki/Kansas_529_Plan]Kansas 529 Plan[/url] on the [url=http://www.bogleheads.org/wiki/Main_Page]Bogleheads Wiki[/url].
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