Difference between revisions of "Maine 529 plan archive"

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Latest revision as of 20:35, 6 November 2017

The Maine 529 plan archive page provides information on direct-sold 529 plans and highlights indexed portfolios. All information is derived from Savingforcollege.com and from 529 plan sites and disclosure documents. If you would like to compare this plan with other direct sold plans, use these Compare by Plan Name and Compare by Feature tools.

  • Open to Residents
  • Open to non-residents
Maine 529 Plan
Program match on contributions and rebates: Several benefits, with amounts determined annually, may be available to Maine account owners or beneficiaries:

The Harold Alfond College Challenge Grant is a $500 grant given before the beneficiary's first birthday. No contributions are required, though other restrictions apply.

New accounts may be eligible for the NextStep Matching Grant. Up to $400 during the first two years may be matched.

An Automated Funding Grant may be received by initially choosing any automated funding option.

Those not eligible for the Harold Alfond College Challenge may receive an Initial Matching Grant if an account is opened with at least $50 or setup with automatic contributions by electronic funds transfer.

The Maine Administration Fee Rebate Program rebates the state administration fee (.05% on iShares portfolios) to accounts great than $1000, if the rebate amount is not less than $2.00.

State tax deduction or credit for contributions: Contributions to any Maine or non-Maine 529 plan of up to $250 per beneficiary are deductible in computing Maine taxable income for taxpayers with federal adjusted gross income of $100,000 or less (single or married filing separate) or $200,000 or less (joint or head of household).
State tax recapture provisions: none
Age-based investment options: There are two The Age-Based Portfolios, each having 6 portfolios. One invests in up to 14 underlying BlackRock mutual funds and the other invests in 8 underlying index-based iShares exchange-traded funds (ETFs) (ER 0.41-0.49%). 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: MFS Fixed-Income Portfolio, iShares Diversified Fixed-income Portfolio, Franklin Templeton Balanced Portfolio, iShares Diversified Equity Portfolio, BlackRock 100% Equity Portfolio, BlackRock Equity Index Portfolio, Principal Plus Portfolio.
Single funds: BlackRock Equity Index Portfolio [BlackRock S&P 500® Index Fund] (ER 0.37%)

Principle Protection Account (ER 0.20%)

Expenses: 0.20% - 0.95%
Policy Regarding Ownership Changes: Accepts requests to transfer account ownership.

Investment options

The Maine 529 savings plan offers indexed Age-based portfolios through iShares exchange traded funds. The funds are listed in the following table.

iShares Age-Based Portfolios – Underlying ETFs
iShares Russell 1000® Index Fund
iShares Russell 2000® Index Fund
iShares MSCI EAFE Index Fund
iShares MSCI Emerging Markets Index Fund
iShares Cohen & Steers Realty Majors Index Fund
iShares Barclays Aggregate Bond Fund
iShares Barclays Short Treasury Bond Fund
iShares Barclays 1-3 Year Treasury Bond Fund



The Maine 529 savings plan offers investors two diversified multi-fund portfolios of iShares exchange traded funds.

iShares Static Multi-Fund Portfolios – Underlying ETFs
Underlying ETFs Diversified Equity
(ER 0.48%)

M-ishares equity.png

Diversified Fixed Income
(ER 0.51%)

M-ishares Fixed.png

iShares Russell 1000 Index Fund 60% 0%
iShares Russell 2000 Index Fund 13% 0%
iShares MSCI EAFE Index Fund 16% 0%
iShares MSCI Emerging Markets Index Fund 4% 0%
iShares Cohen & Steers Realty Majors Index Fund 7% 0%
iShares Barclays Aggregate Bond Fund 0% 40%
iShares Barclays Short Treasury Bond Fund 0% 1%
iShares Barclays 1-3 Year Treasury Bond Fund 0% 39%
iShares iBoxx $ High Yield Corporate Bond Fund 0% 20%

External links