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Learning Quest Advisor

Kansas

Kansas Learning Quest Advisor version of Learning Quest was overhauled in May 2007 and now offers multi-manager age-based portfolios and static portfolios in addition to a menu of individual funds. Accounts can be linked to the Upromise rewards service. To find a financial advisor in your area, use the Find a 529 Pro Directory.

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
2.11 3.21 4.13 3.80 0.23

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General

Program type:

Savings

How to enroll:

Enroll through a financial advisor. Find a Professional

Initial year of operation:

2002

State agency(ies):

Kansas State Treasurer

Program manager:

American Century Investment Management, Inc.

Program distributor:

American Century Investment Services, Inc.

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 Kansas' 529 plans for the same beneficiary reach $345,000.

Minimum contributions:

With lump-sum contributions, the minimum initial contribution is $25. With the automatic investment plan, the minimum contribution level is $25 per month.

Investment Options

Age-based investment options:

The age-based portfolios are offered in 3 different risk levels: Aggressive, Moderate and Conservative. Contributions are placed into the portfolio corresponding to the selected risk level and the beneficiary's age. Over time, accounts move between one or more of the 6 portfolios that make up these tracks, eventually ending in the Short-Term portfolio.

Static investment options:

Select among 7 multi-fund portfolios and 12 American Century individual-fund options.

Underlying investments:

Mutual funds from American Century, T. Rowe Price, Principal Financial Group, and American Beacon

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, but contributions may be subject to a sales charge depending on share class.

Account maintenance fee:

None.

Program management fees:

0.20% manager fee (waived for the Money Market portfolio) plus distribution/servicing fees of 0.25% (Class A); 1% (0.75% for the Money Market portfolio)(Class C).

Expenses of the underlying investments:

Ranges from 0.35% to 0.97% in the age-based and static portfolios and 0.17% to 1.42% in the individual fund portfolios (portfolio weighted averages).

Total asset-based expense ratio:

Class A: 0.42% - 1.87%
Class C: 0.92% - 2.62%

Broker loads and commissions:

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Breakpoint pricing:

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Does breakpoint pricing include non-529 assets under rights of accumulation policies

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Taxes and other Benefits

Program match on contributions:

The state will match on a dollar-for-dollar basis contributions above $100 and up to $600 per year by Kansas residents with household incomes below 200% of the federal poverty income level. The program is limited to 300 participants from each of Kansas' four Congressional districts per year. Applications and contributions must be received by December 31 each year.

State tax deduction or credit for contributions:

Contributions to Kansas AND non-Kansas state-sponsored 529 plans of up to $3,000 per beneficiary per year by an individual, and up to $6,000 per beneficiary per year by a married couple filing jointly, are deductible in computing Kansas taxable income. Rollover contributions are not deductible. Contribution deadline is December 31.

Value of in-state tax benefits:

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State tax recapture provisions:

The principal portion of nonqualified withdrawals from this plan are included in Kansas taxable income to the extent of prior Kansas tax deductions. Rollovers are not subject to recapture.

State tax treatment of qualified distributions:

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

State tax treatment of rollovers:

Kansas follows federal tax-free treatment.

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?

Yes, with the Upromise rewards service.

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:

1-877-882-6236

Telephone for broker use:

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