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529 PLANS

START Saving Program

Louisiana

The START Saving Program requires Louisiana residency to participate. It is subsidized by the state, resulting in no costs to the participant above the underlying fund costs. Vanguard funds and the State Treasurer's fixed income fund are utilized in the age-based and static portfolio options.

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
3.04 5.01 3.30 2.30 0.60

General

Program type:

Savings

How to enroll:

Enroll directly with the program.

Initial year of operation:

1997

State agency(ies):

Louisiana Tuition Trust Authority (LATTA)

Program manager:

Louisiana State Treasurer

Program distributor:

Not applicable

Manager contract term:

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Eligibility

State residency requirements:

The account owner or beneficiary must be a Louisiana resident at the time of program enrollment.

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:

Refunds requested from the Fixed Earnings fund within 12 months of opening the account will not return any interest.

Contributions

Maximum contributions:

Accepts contributions until all account balances in Louisiana's 529 plan for the same beneficiary reach $289,900.

Minimum contributions:

$10

Investment Options

Age-based investment options:

Three Age-Based Options contain 4 portfolios of underlying mutual funds. Contributions are placed into the portfolio corresponding to the beneficiary's age, and later reassigned to more conservative portfolios as the beneficiary approaches college age.

Static investment options:

Select between the Louisiana Principal Protection Option (100% invested in the state-managed Fixed Earnings Fund), and 6 Vanguard individual fund options.

Underlying investments:

Vanguard LifeStrategy funds (in the Age-Based Option), the Louisiana State Treasurer's fund, and Vanguard Index Funds.

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:

None

Expenses of the underlying investments:

None for the Principal Protection fund. Ranges from 0.14% - 0.17% for the Vanguard LifeStrategy funds (Age-Based options; none for Ages 16+), and from 0.04% to 0.35% for the Vanguard individual fund options.

Total asset-based expense ratio:

0.04% - 0.35%. None for the Principal Protection option.

Taxes and other Benefits

Program match on contributions:

The state provides an earnings enhancement equal to 2% to 14% (depending on income) of a Louisiana participant's contributions when the account is used for qualifying expenses.

State tax deduction or credit for contributions:

Contributions to the Louisiana 529 plan of up to $2,400 per account per year by an individual taxpayer, and up to $4,800 per beneficiary per year by a married couple filing jointly, are deductible in computing Louisiana taxable income. Any unused cap amount with an active account may be carried forward to increase the cap in subsequent tax years. Double deductions of up to $4,800 per year may be claimed for an account opened for an eligible needy, non-related beneficiary. 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 Louisiana taxable income to the extent of prior Louisiana tax deductions. Rollovers are not subject to recapture.

State tax treatment of qualified distributions:

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

State tax treatment of rollovers:

Louisiana 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:

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Distributions & Terminations

To whom are distributions made payable:

Qualified withdrawals are made payable to the educational institution, beneficiary, or account owner; nonqualified withdrawals (refunds) are made payable to the account owner.

Account Changes

Policy regarding participant/owner changes:

Account ownership may not be transferred prior to the owner's death or incapacity.

Documents, Access & Reporting

Does participant have online password-protected access to account?

Yes

Can the complete enrollment process including funding be done online?

Yes

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:

1-800-259-5626