Ohio 529 plan

Ohio 529 Plan:

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

Expenses: 0.19% - 1.00%; None for Fifth Third options


 * Direct link to 529 Plan Site
 * Plan document

Links

 * Morningstar Overview
 * State Creditor Protections for 529 Plans