Oklahoma 529 Plan

From Bogleheads

Open to Residents
Open to non-residents

Program match on contributions: Contributions to accounts established for certain Oklahoma children are eligible for a 1-for-1 or .5-for-1 match (depending on income) for years 2008 through 2011. The maximum match is $250/year or $125/year. The match is part of a study funded by the Ford Foundation called SEED OK. Eligibility is restricted to children who were born in 2007 and randomly selected under the study to receive an initial $1,000 contribution to a SEED account.

State tax deduction or credit for contributions: Contributions to the Oklahoma 529 plan of up to $10,000 per contributor per year are deductible in computing Oklahoma taxable income, with a five-year carryforward of excess contributions. Contribution deadline is April 15 of the following year.

State tax recapture provisions: Beginning in 2007, the principal portion of nonqualified withdrawals from this plan, and of rollovers to another 529 plan within one year of the date of contribution, are included in Oklahoma taxable income to the extent of prior Oklahoma tax deductions. A nonqualified withdrawal or rollover in the same year as the contribution will reduce the amount eligible for the Oklahoma deduction. A nonqualified withdrawal or rollover during the five-year carryover period will reduce the amount of any carryover deduction. Nonqualified withdrawals for this purpose do not include withdrawals made as the result of the beneficiary's death or disability or withdrawals made on account of the beneficiary's receipt of a scholarship.

Age-based investment options: The Managed Allocation Option contains six portfolios of underlying mutual funds. Contributions are placed into the portfolio corresponding to the beneficiary’s age and later reassigned to more conservative portfolios as the beneficiary approaches college age.

Static investment options: Select among four multi-fund options (100% Equity, Diversified Equity, Balanced, and Fixed Income) and the Guaranteed Option.

Single Funds

Diversified Equity (ER 0.98%)

100% Equity Index Option (ER 0.79%)

Balanced Option (ER 0.98%)

100% Fixed Income Option (ER 0.99%)

TIAA Principal Plus Interest Option (100%)

TIAA-CREF Large Cap Growth Fund (6%)
TIAA-CREF Large Cap Value Fund (7%)
TIAA-CREF S&P 500 Index Fund (42.7%)
TIAA-CREF Mid Cap Growth Fund (4.0%)
TIAA-CREF Mid Cap Value Fund (4.2%)
TIAA-CREF Small Cap Equity Fund (6.1%)
TIAA-CREF Real Estate Securities Fund (10%)
TIAA-CREF International Equity Fund (20%)

TIAA-CREF Large Cap Growth Index Fund (6%)
TIAA-CREF Large Cap Value Index Fund (6%)
TIAA-CREF S&P 500 Index Fund (42.7%)
TIAA-CREF Mid Cap Growth Index Fund (4%)
TIAA-CREF Mid Cap Value Index Fund (4.2%)
TIAA-CREF Small Cap Blend Index Fund (6.1%)
TIAA-CREF Real Estate Securities Fund (10%)
TIAA-CREF International Equity Index Fund (20%)

TIAA-CREF Large Cap Growth Fund (3.60%)
TIAA-CREF Large Cap Value Fund (4.20%)
TIAA-CREF S&P 500 Index Fund (25.62%)
TIAA-CREF Mid Cap Growth Fund (2.40%)
TIAA-CREF Mid Cap Value Fund (2.52%)
TIAA-CREF Small Cap Equity Fund (3.66%)
TIAA-CREF Real Estate Securities Fund (6.00%)
TIAA-CREF International Equity Fund (12.00%)
TIAA-CREF Bond Fund (30%)
TIAA-CREF Inflation Linked Bond Fund (10%)

TIAA-CREF Bond Fund (75%)
TIAA-CREF Inflation Linked Bond Fund (25%)

TIAA Principal Plus Interest Option (100%)

Expenses: 0.79% - 0.99%; None for the Guaranteed Option.

Links

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Please see [url=http://www.bogleheads.org/wiki/Oklahoma_529_Plan]Oklahoma 529 Plan[/url] on the [url=http://www.bogleheads.org/wiki/Main_Page]Bogleheads Wiki[/url].