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OPTIONS

529 PLANS

Stable Value Plus College Savings Program

Colorado

The Colorado Stable Value Plus College Savings Program offers a single option: a stable-value investment under a funding agreement with MetLife that declares a new interest rate each year.

5-Cap Rating

Resident:
Non-Resident:

Savingforcollege.com's 5-Cap Ratings provides an evaluation and comparison of 529 plans, utilizing a formula that examines dozens of factors grouped into the following categories. (Scale 0 to 5; 5 is highest)

Performance Costs Features Reliability Resident Upgrade
4.00 N/A 2.57 3.60 0.70

General

Program type:

Savings

How to enroll:

Enroll directly with the program.

Initial year of operation:

2003

State agency(ies):

CollegeInvest, a division of the Colorado Department of Higher Education

Program manager:

Metropolitan Insurance Company of Connecticut (MetLife)

Program distributor:

MetLife Insurance Company

Manager contract term:

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Eligibility

State residency requirements:

None

Who can be a participant/owner in the program?

U.S. citizens and resident aliens, UGMA/UTMA custodians, and legal entities.

Significant time or age restrictions imposed by the program:

None

Contributions

Maximum contributions:

Accepts contributions until all account balances in Colorado's 529 plans for the same beneficiary reach $350,000.

Minimum contributions:

$25

Investment Options

Age-based investment options:

None.

Static investment options:

Funds are invested in a stable value investment under a funding agreement with MetLife Insurance Company. The interest rate is declared annually, with a minimum rate of 2% before fees. The 2014 rate of return is 2.64% per year, assuming the the 0.71% administrative fee remains in effect for calendar year 2014. MetLife resets the annual rate of return for the plan each January 1, and CollegeInvest makes the upcoming year's rate of return available the December before the rate is reset.

Underlying investments:

A funding agreement issued by MetLife Insurance Company.

Underlying fund allocations:

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Investment performance link:

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Portfolio Fees & Performance Lookup

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Fees & Expenses

Enrollment or application fee:

None.

Account maintenance fee:

None.

Program management fees:

0.99% administrative fee to the state (0.28% of this fee waived as of September 1, 2011).

Expenses of the underlying investments:

Not applicable, included in the program management fee.

Total asset-based expense ratio:

0.99% (0.71% as of September 1, 2011)

Taxes and other Benefits

Program match on contributions:

The Matching Grant Program provides a dollar-for-dollar match of up to $500 in contributions for lower- to middle-income Colorado residents to accounts with an eligible beneficiary (a dependent under age 13 at the time of initial application). Applications are accepted each year between September 1 and December 31. The match can extend for a maximum five years. Matching grants for future years are subject to continued funding by the sponsor. The CollegeInvest 529 Scholarship provides a $2,000 scholarship to any full-time student who is a Colorado resident, has maintained or has had a parent/guardian maintain a CollegeInvest account for at least two years, and can substantiate an expected family contribution (EFC) of $25,000 or less. The scholarship is renewable each year up to a total of four years or $8,000. Applications are accepted January 1 through July 31.

State tax deduction or credit for contributions:

Contributions to a Colorado 529 plan, to the extent of the contributor's Colorado taxable income, are deductible in computing Colorado taxable income. Rollover contributions are not eligible for the deduction.

Value of in-state tax benefits:

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State tax recapture provisions:

The principal portion of rollovers and nonqualified withdrawals from this plan are included in Colorado taxable income to the extent of prior Colorado 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.

State tax treatment of qualified distributions:

Qualified distributions from Colorado and non-Colorado 529 plans are exempt.

State tax treatment of rollovers:

Colorado follows federal tax-free treatment except that outbound rollovers are subject to the recapture of prior state tax deductions.

Does the sponsoring state exclude the value of an account for state financial aid purposes?

No

Does participation in the program provide beneficiaries with any advantages in qualifying for resident tuition status at state institutions?

No

Does the program have a formal agreement with a rewards program or outside scholarship program?

No

Statutory protection of an account from creditors:

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Distributions & Terminations

To whom are distributions made payable:

Eligible educational institution, beneficiary, or account owner, as directed by the account owner.

Account Changes

Policy regarding participant/owner changes:

Accepts requests to transfer account ownership.

Documents, Access & Reporting

Does participant have online password-protected access to account?

Yes

Can the complete enrollment process including funding be done online?

No

Documents and other services accessible or downloadable on the program's public Web site:

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Contact

Web site:

Click here to visit

Telephone:

1-800-478-5651

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