New Mexico 529 plan

New Mexico 529 Plan


 * Open to Residents
 * Open to non-residents

Program match on contributions: None

State tax deduction or credit for contributions: Contributions to any of New Mexico's 529 plans are fully deductible in computing New Mexico taxable income.

State tax recapture provisions: The principal portion of rollovers and nonqualified withdrawals from this plan are included in New Mexico taxable income to the extent of prior New Mexico tax deductions.

Age-based investment options: The Age-Based Approach 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 six multi-fund portfolios with varying risk tolerances and one individual-fund portfolio (the Short Term Yield Portfolio).

[No index fund portfolios are available]

Expenses: 0.35% - 0.70%


 * Plan site
 * Plan document

Links

 * Morningstar Overview
 * State Creditor Protections for 529 Plans