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Nebraska Education Savings Trust -- Advisor College Savings Plan
Nebraska Education Savings Trust -- Advisor College Savings Plan switched program managers in December 2010 from Union Bank and Trust Company of Lincoln, Nebraska to First National Bank of Omaha. Accounts can be linked to the Upromise rewards service. To find a financial advisor in your area, use the Directory of Financial Professionals.
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)
Find an advisor
Enroll in Nebraska Education Savings Trust -- Advisor College Savings Plan through a financial advisor. Search our directory of qualified financial professionals to find one near you.
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Residents are not limited to investing in their own state's plan. Another state may offer a plan that performs better and has lower fees. If there is no tax break offered for in-state investors ... shop around!
Also, the plan chosen does not affect which state the student enrolls in. An investor can live in NY, invest in a plan from NV and send a student to college in FL.
SavingsFind a Professional
2001, but substantially changed December 2010
Nebraska State Treasurer and Nebraska Investment Council
First National Bank of Omaha
First National Capital Markets, Inc
Through 2017. May be extended for and additional three one-year terms through mutual agreement.
U.S. resident individuals with a valid Social Security number or taxpayer ID number, UGMA/UTMA custodians, legal entities.
Accepts contributions until all account balances in Nebraska's 529 plans for the same beneficiary reach $360,000.
The Age-Based Portfolios option offers a choice among 4 different risk levels (Aggressive, Growth, Index, and Conservative).
Select among 3 multi-fund portfolios with varying risk tolerances and 20 individual-fund portfolios including a savings account option.
American Funds, Federated, State Street, iShares, DFA, Dodge & Cox, MetWest, Tributary, T. Rowe Price, Vanguard, and Goldman Sachs
Click here, you need Microsoft Excel to open this document.
Click here to visit, link to the program website containing most current performance data.
Fees & Expenses
All portfolios except Age-Based Conservative 19+, Goldman Sachs Financial Square Government Money Market, and Bank Savings option:
0.27% and a state fee of 0.03%, plus distribution fees of 0.25% (Class A) or 1.00% (Class C).
Age-Based Conservative 19+ and Goldman Sachs Financial Square Government Money Market Portfolio:
0.27% and a state fee of 0.03%.
Bank Savings Option:
0.18% and a state fee of 0.02%
Ranges from 0.07% to 0.257% (portfolio weighted average) in the age-based and static multi-fund portfolios, from 0.0175% to 0.99% in the individual-fund portfolios, none for the Bank Savings option.
Class A: 0.20% - 1.54%
Class C: 0.20% - 2.29%
Maximum initial sales charge: 4.75%, except none for Age-Based Conservative 19+, Goldman Sachs Financial Square Government Money Market, and Bank Savings Portfolios
Dealer: 4% commission and 0.25% annual trail, except none for Age-Based Conservative 19+ and Goldman Sachs Financial Square Government Money Market Portfolios
Note: Accounts established prior to the 2010 conversion may have a different sales charge schedule.
CDSC: 1% within the first 12 months only
Dealer: 1% commission and 1% annual trail beginning in month 13
Class A sales load (dealer commission):
Less than $50,000 - 4.75% (4.00%)
$50,000 - $99,999 - 4.00% (3.50%)
$100,000 - $249,999 - 3.50% (3.00%)
$250,000 - $499,999 - 3.00% (2.50%)
$500,000 - $999,999 - 2.00% (1.75%)
$1,000,000 or more - 0.00% (0.00%)
Taxes and other Benefits
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.
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.)
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.
Qualified distributions from Nebraska and non-Nebraska 529 plans are exempt.
Nebraska follows federal tax-free treatment except that outbound rollovers are subject to the recapture of prior state tax deductions.
Does participation in the program provide beneficiaries with any advantages in qualifying for resident tuition status at state institutions?
Yes, with the Upromise rewards service.
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
Eligible educational institution, beneficiary, or account owner, as directed by the account owner
Accepts requests to transfer account ownership.
Documents, Access & Reporting