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Ohio CollegeAdvantage 529 Savings Plan

Ohio

The investment menu in the Ohio CollegeAdvantage 529 Savings Plan
features a set of 3 age-based and 14 static investment options using Vanguard funds, another set of 1 age-based and 3 static investment options using multiple fund families, and 2 types of FDIC-insured deposit accounts through Fifth-Third Bank.

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
3.62 4.21 4.57 4.20 0.40

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General

Program type:

Savings

How to enroll:

Enroll directly with the program. Enroll Now

Initial year of operation:

2000

State agency(ies):

Ohio Tuition Trust Authority, part of the Office of the Chancellor, Ohio Board of Regents

Program manager:

Ohio Tuition Trust Authority

Program distributor:

Ohio Tuition Trust Authority

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, trusts, and 501(c)(3) organizations.

Significant time or age restrictions imposed by the program:

None

Contributions

Maximum contributions:

Accepts contributions until all 529 account balances in Ohio's 529 plans for the same beneficiary reach $394,000.

Minimum contributions:

$25 ($500 for the Fifth Third CD option).

Investment Options

Age-based investment options:

2 separate age-based options are offered. The Vanguard Age-Based Option offers a choice among 3 different risk levels (Aggressive, Moderate, and Conservative). Contributions are placed into one of 5 mutual-fund portfolios corresponding to the selected risk level and age of the beneficiary, and reassigned to more conservative portfolios as the beneficiary approaches college age. The Advantage Age-Based Option invests in 4 distinct asset class portfolios made up of existing CollegeAdvantage equity and fixed-income options with funds from Vanguard, PIMCO, and GE Asset Management. Asset allocation is based on the age of the beneficiary and shifts toward more conservative options as the beneficiary approaches college age.

Static investment options:

The Vanguard investment options consist of 5 multi-fund portfolios and 9 individual-fund portfolios. The Fifth Third Bank options consist of certificates of deposit and a savings account. The remaining options include 2 PIMCO fixed-income funds, and an international option managed by GE Asset Management.

Underlying investments:

Vanguard, PIMCO, and GE Asset Management mutual funds; certificates of deposit and savings accounts from Fifth Third Bank.

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:

0.155% manager fee plus 0.04% fee to the state.

Fifth Third options: No fees.

Expenses of the underlying investments:

Advantage multi-manager portfolios: Ranges from 0.19% to 0.31%
Vanguard portfolios: Ranges from 0.02% to 0.27%
PIMCO: Ranges from 0.46% to 0.55%
GE Asset Management: 0.55%
Fifth Third options: None

Total asset-based expense ratio:

0.22% - 0.75%. None for Fifth Third options.

Taxes and other Benefits

Program match on contributions:

None.

State tax deduction or credit for contributions:

Contributions, including rollover contributions, to a Ohio 529 plan of up to $2,000 per beneficiary per year (any filing status) are deductible in computing Ohio taxable income, with an unlimited carryforward of excess contributions. 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 Ohio taxable income to the extent of prior Ohio tax deductions. Nonqualified withdrawals for this purpose do not include withdrawals made as the result of the beneficiary's death or disability, withdrawals made on account of the beneficiary's receipt of a scholarship. Offering materials indicate that distributions subsequently rolled over to another 529 plan are subject to Ohio tax recapture; whether or not "trustee to trustee" rollovers are subject to recapture appears unclear.

State tax treatment of qualified distributions:

Qualified distributions from Ohio and non-Ohio 529 plans are exempt. Ohio also exempts distributions from a Ohio 529 plan attributable to the beneficiary's death, disability, or receipt of a scholarship.

State tax treatment of rollovers:

Ohio follows federal tax-free treatment except that outbound rollovers appear subject to the recapture of prior state tax deductions.

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?

Yes

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

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Contact

Web site:

visit Enroll Now

Telephone:

1-800-233-6734

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