Difference between revisions of "South Carolina 529 plan archive"
Latest revision as of 02:03, 7 November 2017
|This page has been superseded by 529 plans by state. The information shown here is for historical purposes only and may be inaccurate.|
The South Carolina 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
- Not open to non-residents
|Program match on contributions:||none|
|State tax deduction or credit for contributions:||Contributions to any of South Carolina's 529 plans are fully deductible in computing South Carolina taxable income. Contribution deadline: April 15 of the following year.|
|State tax recapture provisions:||The principal portion of nonqualified withdrawals from this plan are included in South Carolina taxable income to the extent of prior South Carolina tax deductions. Rollovers apparently are not subject to recapture.|
|Age-based investment options:||The Automatic Allocation Choice contains seven portfolios of underlying mutual funds. Contributions are placed into the portfolio corresponding to the track choice (Aggressive, Moderate, Conservative) and the beneficiary’s age, and later reassigned to more conservative portfolios as the beneficiary approaches college age.|
|Static investment options:||Select among seven multi-fund portfolios (Aggressive Growth, Growth, Moderate Growth, Moderate, Moderately Conservative, Conservative, and College), and seven individual-fund index portfolios.|
|Expenses:||0.05% - 0.25%|
|Policy Regarding Ownership Changes:||Accepts requests to transfer account ownership.|
The South Carolina 529 savings plan provides an age-based option based on the following funds (detailed allocations for these funds is provided in the second table below). These funds are mostly indexed.
The South Carolina 529 plan offers the following static multi-fund indexed offerings along with seven standalone index funds.
|Aggressive Growth Portfolio
|Moderate Growth Portfolio
|Moderately Conservative Portfolio
|College Portfolio |
|Stand Alone Funds||Cost|
|Large Cap Index||.20%|
|Mid Cap Index||.21%|
|Small Cap Index||.22%|
|International Equity Index||.13%|
|Short Term Bond Index||.07%|
|TIPS Bond Index||.20%|