Kansas 529 plan

Kansas 529 Plan:


 * Open to Residents
 * Open to non-residents

Program match on contributions:' Under a 3-year pilot program beginning in 2006, the state will match on a dollar-for-dollar basis contributions above $100 and up to $600 per year by Kansas residents with household incomes below 200% of the federal poverty income level. The program is limited to 200 participants from each of Kansas’ 4 Congressional districts in 2007 and 300 participants from each of Kansas’ 4 Congressional districts in 2008.

State tax deduction or credit for contributions: Contributions to any Kansas or non-Kansas state-sponsored 529 plan of up to $3,000 per beneficiary per year for an individual taxpayer, and $6,000 per beneficiary per year for a married couple filing jointly, are deductible in computing Kansas taxable income. Prior to 2007, the deduction was limited to contributions made only to a Kansas 529 plan. Rollover contributions are not deductible. Contribution deadline is December 31.

'''State tax recapture provisions: The principal portion of nonqualified withdrawals from this plan are included in Kansas taxable income to the extent of prior Kansas tax deductions. Rollovers are not subject to recapture.'''

Age-based investment options: The program offers an index age-based track that invests primarily in Vanguard index funds (American Century Money Market fund is the only non-Vanguard fund). Accounts will move through one or more of three age-based portfolios and eventually end in the Short-Term portfolio.

Static investment options: Select among 14 options: four Vanguard index fund portfolios, a 100% Equity portfolio invested in American Century mutual funds, a Money Market portfolio invested in American Century funds, the six multi-fund portfolios used in the age-based tracks, and the LIVESTRONG™ 2015 and LIVESTRONG™ 2025 Portfolios. The two LIVESTRONG™ portfolios have a defined target year and as that date approaches, the asset mix of the underlying funds will change to a more conservative focus following a pre-set schedule. The underlying funds do not invest in any tobacco-related companies, and American Century Investments will make a contribution to the Lance Armstrong Foundation based on assets in the portfolios.

Single Portfolios

Expenses: 0.25% - 1.06%


 * Direct link to 529 Plan site
 * Plan document

Links

 * Morningstar Overview
 * State Creditor Protections for 529 Plans