Virginia 529 plan

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The Virginia 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
Virginia 529 Plan:[1]
Program match on contributions: none
State tax deduction or credit for contributions: Contributions to any of Virginia's 529 plans of up to $4,000 per account per year are deductible in computing Virginia taxable income, with an unlimited carryforward of excess contributions. Contributions are fully deductible in the year of contribution for taxapayers at least 70 years of age. Contributions from a non-owner are deductible by the account owner and not by the non-owner/contributor. Contribution deadline is receipt (not postmark date) by the last business day of the year based on agency calendar.
State tax recapture provisions: The principal portion of rollovers and nonqualified withdrawals from this plan are included in Virginia taxable income to the extent of prior Virginia tax deductions. Nonqualified withdrawals for this purpose do not include withdrawals made as the result of the beneficiary's death or disability or withdrawals made on account of the beneficiary's receipt of a scholarship.
Age-based investment options: The Age-based Evolving Portfolios option contains seven portfolios of underlying mutual funds and separately-managed investments. Contributions may be invested in any of the portfolios. The portfolios automatically shift to a more conservative investment allocation over time. The portfolios are a mixture of Vanguard Index funds and other providers' active funds.
Static investment options: Select among nine portfolios each of which invests in a different Vanguard mutual fund.
Expenses: 0.12% - 0.25%. $25 nonrefundable application processing fee.
Policy Regarding Ownership Changes: Accepts requests to transfer account ownership.


Investment options

The Virginia 529 savings plan offers an age-based plan that contains a mixture of index and active funds. The plan's indexed static-multi fund offerings consist of three Vanguard LifeStrategy funds. The plan also offers the standalone index portfolios listed in the table below.

Static Funds[2]
Vanguard Funds Expense ratio
Life Strategy Aggressive Growth 0.25%
Life Strategy Moderate Growth 0.24%
Life Strategy Conservative Income 0.22%
Total Stock Market Index 0.12%
Total International Index 0.20%
REIT Index 0.20%
Total Bond Market Index 0.14%
Inflation Indexed Bond 0.17%

References

  1. Virginia: 529 Plan, viewed 20 December, 2014.
  2. Savings Program Performance, viewed 20 December, 2014.

External links