New York 529 plan

New York 529 Plan:

Program match on contributions: None

State tax deduction or credit for contributions: Contributions to any of New York's 529 plans of up to $5,000 per year for an individual taxpayer, and $10,000 per year for married taxpayers filing jointly, are deductible in computing New York taxable income. Only contributions made by the account owner, or if filing jointly, by the account owner's spouse, are deductible. Contribution deadline is December 31 postmark.

State tax recapture provisions:

The principal portion of rollovers and nonqualified withdrawals from this plan are subject to New York tax to the extent of prior New York tax deductions, but only after removal of non-deducted contributions. A rollover for this purpose does not include a trustee-to-trustee transfer between two different accounts in New York's 529 plan.

Age-based investment options: The Age-Based Option offers a choice among three different risk levels (Aggressive, Moderate, or Conservative) each containing five portfolios of underlying mutual funds. Contributions are placed into the portfolio corresponding to the selected risk level and beneficiary’s age, and later reassigned to more conservative portfolios as the beneficiary approaches college age.

Static investment options: Select among four multi-fund portfolios (Growth, Moderate Growth, Conservative Growth, and Income), seven individual index-fund portfolios, and the Vanguard Short-Term Reserves Account.

Single Funds- Expense Ratios 0.55%
 * Growth Portfolio
 * Vanguard Total Stock Market Index (65%)
 * Vanguard Total Bond Market Index (35%)


 * Moderate Growth Portfolio
 * Vanguard Total Stock Market Index (50%)
 * Vanguard Total Bond Market Index (50%)


 * Conservative Growth Portfolio
 * Vanguard Total Stock Market Index (35%)
 * Vanguard Total Bond Market Index (65%)


 * Income Portfolio
 * Vanguard Total Bond Market Index (50%)
 * Vanguard Inflation Indexed Bond Fund (25%)
 * Vanguard Short Term Reserves (25%)


 * Vanguard Total Stock Market Index (100%)
 * Vanguard Growth Index (100%)
 * Vanguard Value Index (100%)
 * Vanguard Mid Cap Index (100%)
 * Vanguard Small Cap Index (100%)
 * Vanguard Total Bond Market Index (100%)
 * Vanguard Inflation Indexed Bond Fund (100%)
 * Vanguard Short Term Reserves (100%)

Expenses: 0.55%


 * Direct link to 529 Plan site
 * Plan document

Links

 * Morningstar Overview
 * State Creditor Protections for 529 Plans