Difference between revisions of "Utah 529 plan archive"

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The Utah 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
Utah 529 Plan:[1]
Program match on contributions: Fast Forward Matching Program matches contributions of low-income Utah participants.
State tax deduction or credit for contributions: For 2014, Utah individual taxpayers/residents and trusts may claim a 5 percent state income tax credit on contributions up to $1,860 per qualified beneficiary, equaling up to $93. For taxpayers married filing jointly, the 5 percent credit may be claimed for contributions up to $3,720 per qualified beneficiary, equaling up to $186. It is not required that married couples taking the tax benefit have separate UESP accounts to claim the joint tax benefit. Utah corporations are eligible for a tax deduction up to $1,860 in contributions per qualified beneficiary. A joint tax benefit is not allowed for institutional (trusts and corporations) accounts. To qualify for the credit or deduction, the beneficiary on the account must be designated as such before age 19.
State tax recapture provisions: The principal portion of rollovers and nonqualified withdrawals from this plan are included in Utah taxable income to the extent of prior Utah tax deductions or Utah tax credits.
Age-based investment options: Four age-based options, with different underlying investments and risk levels (Age-Based Aggressive Global, Age-Based Aggressive Domestic, Age-Based Moderate, and Age-Based Conservative) are offered. Contributions are allocated among the underlying investments according to the option selected and the age of the beneficiary, and are reallocated to become more conservative as the beneficiary approaches college age. A fifth option, the Customized Age-Based investment option, allows for a customized account asset allocation from as many as 22 underlying investments, and automatically reallocates to a new customized underlying investment allocation each time the beneficiary's age qualifies for the next of seven possible age brackets.
Static investment options: Select among FDIC-Insured Savings, two equity-index, multi-fund, two balanced multi-fund, one fixed income fund, and a Customized allocation portfolio. A stand-alone S&P 500 index portfolio is also available. Refer to Static Investment Options.
Customized Allocation option: The Utah 529 plan allows one to select custom allocation from a choice of 22 funds. Use the calculator to estimate the fees for the custom allocation.
Expenses: 0.16% - 0.603%; The Administrative Mail Delivery Fee is an annual fee of $2 per $1,000 of an account balance and is capped at $12 per year. It is assessed on an account’s balance on the last business day of each month that both UESP and the New York Stock Exchange are open. The Administrative Mail Delivery Fee is waived for Utah residents. It is also waived for non-Utah residents who elect to view their quarterly account statements, Program Description, Program Description Supplements, newsletters, and all other UESP communications online rather than receive them in the U.S. mail.

From a monthly perspective, the Administrative Mail Delivery Fee breaks down as follows:

  • Account balances under $6,000. If the account balance is less than $6,000 at the end of a month, the fee will be 0.0167% of the account balance for that month.
  • Account balances of $6,000 or more. If an account balance at the end of a month is at least $6,000, the account will be charged a maximum of $1.00 for that month.
Policy Regarding Ownership Changes: Accepts requests to transfer account ownership.

Investment options

Age-based

The Utah 529 savings plan's age-based portfolios and constituent funds are indicated in the tables below. The plan also provides a customized age-based option (click on individual images to enlarge).


Age-Based Index Portfolios
Underlying Funds
Age Age-Based Aggressive Global[2] Age-Based Aggressive Domestic[3] Age-Based Moderate [4] Age-Based Conservative [5]
0-3 UtahAggGlobal0-3.png UtahDomGrowth0-3.png UtahModerate0-3.png UtahConservative0-3.png


4-7 UtahAggGlobal4-6.png UtahDomGrowth0-3.png UtahModerate4-6.png UtahConservative4-6.png


7-9 UtahAggGlobal7-9.png UtahDomAgg7-9.png UtahModerate7-9.png UtahConservative7-9.png


10-12 UtahAggGlobal10-12.png UtahDomAgg10-12.png UtahModerate10-12.png UtahConservative10-12.png
13-15 UtahAggGlobal13-15.png UtahDomAgg13-15.png UtahModerate13-15.png UtahConservative13-15.png


16-18 UtahAggGlobal16-18.png UtahDomAgg16-18.png UtahModerate16-18.png UtahConservative13-15.png
19+ UtahAggGlobal19+.png Utah AggDom19+.png UtahAgg19+.png UtahConservative19.png

Static

The Utah 529 savings plan offers six static indexed multi-fund portfolios: two equity portfolios, two balanced portfolios, a fixed income, and a customizable portfolio (click on individual images to enlarge).

Multifund Options
Equity
Equities 30% International
[6]

UtahEquity-30-Percent.png

Equity
Equities 10% International
[7]

UtahIntlEquity-10-Percent.png

Balanced
Equities 70%/30% Fixed
[8]

Utah70-30.png

Balanced
Equities 20%/Fixed 80%
[9]

Utah20-80.png

Fixed
100% Fixed
[10]

UtahFixed-Income.png


The customized option allows investors to select a desired asset allocation from a menu of fund offerings from Vanguard and Dimensional Fund Advisors (DFA). An asterisk following a fund entry indicates a fund that is limited to a maximum 25% weighting in a customized portfolio.

Customized Option [11]
Equity Fixed
  • DFA Global Equity Portfolio
  • VG Inst Total Stock Mkt Index Fund
  • VG Institutional Index Fund
  • VG Value Index Fund
  • DFA U.S. Large Cap Value Portfolio
  • VG Growth Index Fund
  • VG Mid-Cap Index Fund
  • VG Small-Cap Index Fund
  • VG Small-Cap Value Index Fund*
  • DFA U.S. Small Cap Value Portfolio*
  • VG Small-Cap Growth Index Fund*
  • DFA Real Estate Securities Portfolio*
  • VG Total Int'l Stock Index Fund
  • VG Developed Markets Index Fund
  • DFA International Value Portfolio*
  • VG International Growth Fund*
  • VG Emerging Mkts. Stock Index Fund*
  • VG Total Bond Market Index Fund
  • VG Short-Term Inv.-Grade Fund
  • VG Short-Term Bond Index Fund
  • DFA One-Year Fixed Income Portfolio
  • VG Short-Term Inflation-Protected Securities Index Fund
  • VG Total International Bond Index Fund
  • FDIC-insured accounts

Standalone

The Utah 529 savings plan also offers the following standalone, single options.

Standalone Single Options
Option Link
Vanguard Institutional 500 Index Fund link
Public Treasurers Investment Fund (PTIF) link
FDIC-Insured Savings Account link

References

  1. Utah 529 Plan. SavingforCollege.com, viewed 19 December, 2014.
  2. Utah Age-Based Aggressive Global, viewed 19 December 2014
  3. Utah Age-Based Aggressive Domestic, viewed 19 December 2014
  4. Utah Age-Based Moderate, viewed 19 December 2014
  5. Utah Age-Based Conservative, viewed 19 December 2014
  6. Utah Equities 30% International, viewed 19 December 2014.
  7. Utah Equities 10% International, viewed 19 December 2014.
  8. Utah 70% Equities/30% Fixed, viewed 19 December, 2014.
  9. Utah 20% Equities/80% Fixed, viewed 19 December, 2014.
  10. Utah Fixed, viewed 19 December, 2014.
  11. Utah Customized Static, viewed 19 December, 2014.

External links