SHORTCUTS

529 Plan Details:

Enter your state:

World's Simplest College Calculator:

How old is your child?

Find a 529 Pro:

Enter your zip code:

Enroll In a 529 Plan:

View a list of participating plans

OPTIONS

529 PLANS

NextGen College Investing Plan -- Client Select Series

Maine

The Maine NextGen College Investing Plan -- Client Select Series broker-sold 529 plan consists of age-based, static multi-fund, and individual-fund options from a number of money managers: Allianz/PIMCO, BlackRock, Franklin Templeton, MainStay, MFS, and Thornburg. In addition, the Principal Plus Portfolio and NextGen Savings Portfolio are offered. For complete details, see a Merrill Lynch Financial Advisor or, for Maine residents, a participating Maine Distribution Agent. 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
4.37 3.45 3.97 4.70 0.28

Find an advisor

Enroll in NextGen College Investing Plan -- Client Select Series through a financial advisor. Search our directory of qualified 529 professionals to find one near you.

Find a 529 Pro Now Become a 529 Pro

General

Program type:

Savings

How to enroll:

Enroll through a Merrill Lynch Financial Advisor or certain other Maine distribution agents. Find a Professional

Initial year of operation:

1999

State agency(ies):

Finance Authority of Maine (FAME) with investment oversight provided by the State Treasurer

Program manager:

Merrill Lynch, Pierce, Fenner & Smith Incorporated

Program distributor:

Merrill Lynch

Manager contract term:

Premium subscription required for this data.

Eligibility

State residency requirements:

None

Who can be a participant/owner in the program?

U.S. citizens and resident aliens at least 18 years old, 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 529 plans for the same beneficiary reach $380,000.

Minimum contributions:

With lump-sum contributions, the minimum initial contribution is $250 ($25 per portfolio), and the minimum subsequent contribution is $50 ($25 per portfolio), may be waived for Maine residents eligible for certain Maine grants. With the automatic investment plan, there is no initial contribution amount required but subsequent automated contributions must be at least $50 ($25 per portfolio) per month.

Investment Options

Age-based investment options:

5 age-based options are offered, each using a different investment manager. The Franklin Templeton Age-Based Portfolios option contains five portfolios of underlying mutual funds. The AllianzGI Age-Based Portfolios, MFS Age-Based Portfolios, the BlackRock Age-Based Portfolios, and the iShares Age-Based Portfolios each contain 6 portfolios of underlying mutual funds. Contributions are placed into the portfolio corresponding to the beneficiary’s age and desired investment manager, and later reassigned to more conservative portfolios as the beneficiary approaches college age.

Static investment options:

Select among 3 multi-fund and 4 individual-fund portfolios using Franklin Templeton funds, 2 multi-fund and 2 individual-fund portfolios using MFS funds, 3 multi-fund and 4 individual-fund portfolios using BlackRock funds, 2 multi-fund and 3 individual-fund portfolios using Allianz/PIMCO funds, 2 multi-fund and 3 iShares individual portfolios, a MainStay large cap growth portfolio, a Thornburg international equity portfolio, the Principal Plus Portfolio, and the NextGen Savings Portfolio.

Underlying investments:

Allianz/PIMCO, BlackRock, Franklin Templeton, MainStay, MFS and Thornburg mutual funds. The Principal Plus Portfolio consists of one or more guaranteed investment contracts issued by one or more insurance companies, deposits in an interest-bearing FDIC-insured bank account at Bank of America, N.A., and to the extent approved by FAME, corporate fixed-income investments and/or similar instruments.. The NextGen Savings Portfolio is comprised of an interest-bearing bank deposit account with Bank of America, N.A.

Underlying fund allocations:

Premium subscription required for this data.

Investment performance link:

Premium subscription required for this data.

Portfolio Fees & Performance Lookup

Premium subscription required for this data.

Fees & Expenses

Enrollment or application fee:

None, but contributions may be subject to a sales charge depending on share class.

Account maintenance fee:

$50 annually on accounts less than $20,000, waived when the account owner or beneficiary is a Maine resident, for employees of the program manager, for anyone making at least $2,500 in contributions during the year, and for Merrill Lynch employees. The annual account maintenance fee is reduced to $25 if an employer has arranged for an employee payroll direct deposit relationship with the program manager.

Program management fees:

For the Principal Plus Portfolio:
0.46%, includes 0.11% fee to the state

None for the NextGen Savings Portfolio.

For iShares Portfolios:
0.50% distribution/servicing fee (Class A), or 1.25% distribution/servicing fee (Class C) with additional 0.09% fee to the state.

For all other portfolios:
None (Class A), or 0.75% distribution/servicing fee (Class C) with additional 0.11% fee to the state

Expenses of the underlying investments:

Ranges from 0.10% to 1.04% (portfolio weighted average) in the age-based and static multi-fund portfolios and from 0.30% to 1.02% in the individual-fund portfolios. None for the Principal Plus Portfolio and NextGen Savings Portfolio.

Total asset-based expense ratio:

Class A: 0.00% - 1.40%
Class C: 0.00% - 2.15%

Broker loads and commissions:

Premium subscription required for this data.

Breakpoint pricing:

Premium subscription required for this data.

Taxes and other Benefits

Program match on contributions:

New accounts opened for Maine residents are eligible for three one-time grants: a NextGen Initial Matching Grant of $200 if the account is opened since January 1, 2011 with at least $50; a NextStep Matching Grant which provides a 50% match on contributions up to $100 per year with a lifetime maximum of $1,000; and a NextGen Automated Funding Grant of $50 by choosing the automated funding option and making six consecutive contributions no less frequently than quarterly, and no less than $50 monthly.

Separately, the Harold Alfond College Challenge makes a one-time $500 grant available to all Maine babies to start a NextGen account, regardless of family income.

State tax deduction or credit for contributions:

Contributions to Maine AND non-Maine 529 plans of up to $250 per beneficiary per year are deductible in computing Maine taxable income for taxpayers with federal adjusted gross income of $100,000 or less (single or married filing separate) or $200,000 or less (joint or head of household).

Value of in-state tax benefits:

Premium subscription required for this data.

State tax recapture provisions:

None.

State tax treatment of qualified distributions:

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

State tax treatment of rollovers:

Maine 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?

No

Statutory protection of an account from creditors:

Premium subscription required for this data.

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:

Premium subscription required for this data.

Contact

Web site:

Click here to visit

Telephone:

1-877-463-9843

Telephone for broker use:

Premium subscription required for this data.

Plan News

Search our directory of qualified 529 professionals to find one near you!

Find a 529 Pro Now Become a 529 Pro