Iowa 529 plan
The Iowa 529 plan 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:||none|
|State tax deduction or credit for contributions:||Iowa taxpayers can deduct up to $2,975 in contributions per beneficiary account from their adjusted gross income for 2012. The maximum deduction increases each year with inflation. Only contributions made by the account owner are deductible. Contribution deadline is December 31 postmark.|
|State tax recapture provisions:||The principal portion of rollovers and nonqualified withdrawals from this plan are included in Iowa taxable income to the extent of prior Iowa tax deductions.|
|Age-based investment options:||The Age-Based option is offered in four different risk levels (Tracks A, B, C, and D) each containing four or five portfolios of underlying mutual funds. Contributions are placed into the portfolio corresponding to the risk level selected and the age of the beneficiary, and later reassigned to more conservative portfolios as the beneficiary approaches college age.|
|Static investment options:||Select among six multi-fund portfolios (Aggressive Growth, Growth, Moderate Growth, Conservative Growth, Income, and Conservative Income) and four individual-fund portfolios (Vanguard Institutional Total Stock Market Index Fund , Vanguard Total International Index Fund, Vanguard Total Bond Market II Index Fund, and Vanguard Institutional Prime Money Market Fund)|
|Policy Regarding Ownership Changes:||Accepts requests to transfer account ownership.|
The age-based plan utilizes the portfolios listed below. The portfolios have the same allocations as the namesake multi-fund portfolios.
The table below shows the underlying fund allocations for the Iowa savings plan's Static multi-fund portfolios.
|Aggressive Growth||Growth||Moderate Growth||Conservative Growth||Income||Conservative Income|
Standalone single funds
The standalone index portfolios available to investors in the Iowa 529 savings plan are included in the table below.
- Direct link to 529 Plan site
- Plan document
- Morningstar Overview
- State Creditor Protections for 529 Plans