Difference between revisions of "Utah 529 plan archive"
Latest revision as of 21:08, 6 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|This page has been superseded by 529 plans by state.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 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
|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:
|Policy Regarding Ownership Changes:||Accepts requests to transfer account ownership.|
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||Age-Based Aggressive Global||Age-Based Aggressive Domestic||Age-Based Moderate ||Age-Based Conservative |
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).
Equities 30% International
Equities 10% International
Equities 70%/30% Fixed
Equities 20%/Fixed 80%
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.
The Utah 529 savings plan also offers the following standalone, single options.
|Vanguard Institutional 500 Index Fund||link|
|Public Treasurers Investment Fund (PTIF)||link|
|FDIC-Insured Savings Account||link|
- Utah 529 Plan. SavingforCollege.com, viewed 19 December, 2014.
- Utah Age-Based Aggressive Global, viewed 19 December 2014
- Utah Age-Based Aggressive Domestic, viewed 19 December 2014
- Utah Age-Based Moderate, viewed 19 December 2014
- Utah Age-Based Conservative, viewed 19 December 2014
- Utah Equities 30% International, viewed 19 December 2014.
- Utah Equities 10% International, viewed 19 December 2014.
- Utah 70% Equities/30% Fixed, viewed 19 December, 2014.
- Utah 20% Equities/80% Fixed, viewed 19 December, 2014.
- Utah Fixed, viewed 19 December, 2014.
- Utah Customized Static, viewed 19 December, 2014.