Ohio 529 Plan
From Bogleheads
- Open to Residents
- Open to non-residents
Program match on contributions: None
State tax deduction or credit for contributions: Contributions to any of Ohio's 529 plans of up to $2,000 per beneficiary per year are deductible in computing Ohio taxable income, with an unlimited carryforward of excess contributions. Contribution deadline is December 31.
State tax recapture provisions: The principal portion of nonqualified withdrawals from this plan are included in Ohio taxable income to the extent of prior Ohio tax deductions. Nonqualified withdrawals for this purpose do not include withdrawals made as the result of the beneficiary's death or disability, withdrawals made on account of the beneficiary's receipt of a scholarship, or rollovers.
Age-based investment options: Both the Putnam Age-Based Option and the Vanguard Age-Based Option offer a choice among three different risk levels (Aggressive, Moderate, and Conservative). Under the Putnam Age-Based Option, contributions are allocated among eight mutual funds based on the selected risk level and the age of the beneficiary, and a reallocation occurs every three months until the beneficiary reaches age 21. Under the Vanguard Age-Based Option, contributions are placed into one of five mutual-fund portfolios corresponding to the selected risk level and age of the beneficiary, and reassigned to more conservative portfolios as the beneficiary approaches college age.
Static investment options:The Putnam investment options consist of three multi-fund portfolios (Aggressive Growth, Growth, and Balanced), a stable value investment, and 12 individual-fund portfolios. The Vanguard investment options consist of four multi-fund portfolios and seven individual-fund portfolios. The Fifth Third Bank options consist of certificates of deposit and a savings account.
Single Funds
| Aggressive Growth (ER 0.28%) | Growth (ER 0.28%) | Moderate Growth (ER 0.28%) | Conservative Growth (ER 0.29%) | Income (ER 0.31%) | Stand-alone |
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Expenses: 0.19% - 1.00%; None for Fifth Third options
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/Ohio_529_Plan]Ohio 529 Plan[/url] on the [url=http://www.bogleheads.org/wiki/Main_Page]Bogleheads Wiki[/url].
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