State Farm College Savings Plan


Nebraska's State Farm College Savings Plan utilizes OppenheimerFunds, Federated, and State Farm mutual funds in its age-based and static portfolios. For complete details, see a State Farm financial advisor. To find a financial advisor in your area, use the Directory of Financial Professionals.

5-Cap Rating


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
2.96 3.42 2.77 3.40 0.40

Find an advisor

Enroll in State Farm College Savings Plan through a financial advisor. Search our directory of qualified financial professionals to find one near you.


Program type:


How to enroll:

Enroll through a State Farm VP Management Corp. Registered Representative. Find a Professional

Initial year of operation:


State agency(ies):

Nebraska State Treasurer

Program manager:

First National Bank of Omaha, with OFI Private Investments Inc. as investment manager and servicing agent.

Program distributor:

OppenheimerFunds Distributor, Inc.

Manager contract term:

Through December 17, 2017.


State residency requirements:


Who can be a participant/owner in the program?

Individuals of legal age, UGMA/UTMA custodians, trusts, state/local governments and 501(c)(3) organizations.

Significant time or age restrictions imposed by the program:



Maximum contributions:

Accepts contributions until all account balances in Nebraska's 529 plans for the same beneficiary reach $360,000.

Minimum contributions:

With lump-sum contributions, the minimum initial contribution is $250 per account, and the minimum subsequent contribution is $50 per portfolio. With the automatic investment plan, the minimum contribution level is $50 per portfolio.

Investment Options

Age-based investment options:

The Enrollment-Based Portfolios contain 5 portfolios. Contributions are placed into the portfolio corresponding to the number of years to expected enrollment, and later reassigned to more conservative investment allocations as the beneficiary approaches college age.

Static investment options:

Select among 4 portfolios: Growth, Moderate Growth, Balanced, and Money Market.

Underlying investments:

OppenheimerFunds mutual funds, Federated U.S. Government Securities Fund, and State Farm Bond Fund.

Underlying fund allocations:

Click here, you need Microsoft Excel to open this document.

Investment performance link:

Click here to visit, link to the program website containing most current performance data.

Portfolio Fees & Performance Lookup

Click here to visit, pricing and performance details for each portfolio in each share class. Data can be plugged into FINRA's 529 Expense Analyzer.

Fees & Expenses

Enrollment or application fee:

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

Account maintenance fee:


Program management fees:

0.22% (including 0.05% state fee), plus distribution/servicing fee of 0.25% (Class A) or 1.00% (Class B), except the Money Market Portfolio has no distribution/servicing fee.

Expenses of the underlying investments:

Ranges from 0.16% to 0.81%.

Total asset-based expense ratio:

Class A: 0.38% - 1.28%
Class B: 0.38% - 2.03%

Broker loads and commissions:

Class A, except Money Market Portfolio:
Maximum initial sales charge: 5.50%
Dealer: 4.75% commission and 0.25% annual trail beginning immediately

Class B, except Money Market Portfolio:
Additional annual fee: $25
CDSC: 5.0% in year one declining to 1.0% in year six (none thereafter)
Dealer: 4.0% commission and 0.25% annual trail beginning immediately
NOTE: Only account owners who owned Class B shares prior to November 3, 2008 are eligible to purchase Class B shares.

Money Market Portfolio: None

Breakpoint pricing:

A shares sales load (dealer commission):
Less than $25,000 - 5.50% (4.75%)
$25,000 - $49,999 - 5.25% (4.50%)
$50,000 - $99,999 - 4.75% (4.00%)
$100,000 - $249,999 - 3.75% (3.00%)
$250,000 - $499,999 - 3.00% (2.50%)
$500,000 - $999,999 - 2.00% (1.60%)
$1 million and over - 0%

Taxes and other Benefits

Program match on contributions:


State tax deduction or credit for contributions:

Contributions to a Nebraska 529 plan of up to $10,000 per year for single taxpayers and married taxpayers filing jointly, and up to $5,000 per year for married taxpayers filing separately, are deductible in computing Nebraska taxable income. Contributions made by the account owner or parents or guardians of UTMA/UGMA accounts are deductible. Contribution deadline is December 31 postmark.

Value of in-state tax benefits:

Investment time horizon:
18 yrs (i.e. newborn): 0.30% annualized
10 yrs (i.e. 8-yr old): 0.53% annualized
2 yrs (i.e. 16-yr old): 2.68% annualized
Based on 6.84% NE tax rate. (For assumptions see 529 State Tax Calculator.)

State tax recapture provisions:

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

State tax treatment of qualified distributions:

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

State tax treatment of rollovers:

Nebraska 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?


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


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


Statutory protection of an account from creditors:

Under Nebraska law, an account in a Nebraska 529 plan is not susceptible to any levy, execution, judgment, or other operation of law, garnishment, or other judicial enforcement, and the amount is not an asset or property of either the participant or the beneficiary for purposes of any state insolvency laws.

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?


Can the complete enrollment process including funding be done online?


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

Enrollment Handbook


Web site:

Click here to visit



Telephone for broker use:


State News

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

Find a Financial Professional Now Become a Financial Professional

Continue to SavingForCollege.com

...in a few seconds you will be forwarded automatically.