Indiana 529 plan

Indiana 529 Plan


 * Open to Residents
 * Open to non-residents

Program match on contributions: None

State tax deduction or credit for contributions: Beginning in 2007, a 20% tax credit on up to $5,000 per year in contributions, including rollover contributions, to the Indiana 529 plan can be claimed against Indiana income tax (maximum yearly credit is $1,000).

State tax recapture provisions: An account owner must pay with the Indiana tax return a tax equal to the 20 percent of a nonqualified withdrawal from this plan, to the extent of Indiana tax credits previously claimed. Nonqualified withdrawals for this purpose include rollovers but 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. Recapture will apply to any account terminated within 12 months from account opening date.

Age-based investment options: The Age-Based Program 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. The expense ratio for these portfolios is 0.51%.

Static investment options: The plan offers three Vanguard portfolios.

Expenses: 0.35% - 1.17%. There is a $20 annual account fee for plan balances under $25,000.

https://a248.e.akamai.net/f/248/21630/7d/im.uprinv.com/rc/sr2/indiana/enrollkit.pdf Plan document]
 * Plan site

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

 * Morningstar Overview
 * State Creditor Protections for 529 Plans