529 PLANS

CollegeAccess 529 (Direct-sold)

South Dakota

South Dakota's CollegeAccess 529 (Direct-sold) program is available only to those who meet certain South Dakota residency requirements, this 529 savings program features an age-based option, one fixed income static portfolio and two single fund portfolios.

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
1.95 4.33 2.97 3.80 0.00

General

Program type:

Savings

How to enroll:

Enroll directly with the program.

Initial year of operation:

2002

State agency(ies):

South Dakota Investment Council

Program manager:

Allianz Global Investors Distributors LLC

Program distributor:

Allianz Global Investors Distributors LLC

Manager contract term:

Through December 1, 2021.

Eligibility

State residency requirements:

The account owner or designated beneficiary must be a South Dakota 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 (individually or as joint owners), 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 South Dakota's 529 plan for the same beneficiary reach $350,000.

Minimum contributions:

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

Investment Options

Age-based investment options:

The Age-Based Option consists of 5 portfolios of underlying mutual funds. Contributions are placed into the portfolio corresponding to the age of the beneficiary or the anticipated years to matriculation, and later reassigned to more conservative portfolios as the beneficiary approaches college age.

Static investment options:

A multi-fund portfolio called the Diversified Bond Portfolio and 2 individual-fund portfolios, one invested in the PIMCO Real Return Fund, and one invested in the PIMCO All Asset Fund.

Underlying investments:

Allianz, Boston Company, Franklin Templeton, Voya, NFJ, PIMCO, Royce, Thornburg, and TIAA-CREF.

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. Data can be plugged into FINRA's 529 Expense Analyzer.

Fees & Expenses

Enrollment or application fee:

None.

Account maintenance fee:

None.

Program management fees:

None

Expenses of the underlying investments:

Ranges from 0.43% to 0.54% (portfolio weighed average) in the age-based and static portfolios, and 0.50% to 0.88% in the individual-fund portfolios. The program manager reimburses the investment portfolio to the extent the weighted average expense of the portfolio exceeds 0.65%.

Total asset-based expense ratio:

0.43% - 0.88%

Taxes and other Benefits

Program match on contributions:

None.

State tax deduction or credit for contributions:

Not applicable. South Dakota does not have a personal income tax.

State tax treatment of qualified distributions:

Not applicable. South Dakota does not have a personal income tax.

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:

Under South Dakota law, except for funds contributed within one year of a Chapter 11 bankruptcy filing by the account owner or contributor, amounts in a South Dakota 529 account are not an asset or property of the account owner, contributor, or beneficiary for purposes of paying any debt or liability, and the account is exempt from any levy, execution or judgment, or other operation of law, garnishment, or other judicial enforcement.

Distributions & Terminations

To whom are distributions made payable:

Account owner, beneficiary, eligible educational institution, or third-party, 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:

Plan Disclosure Statment and Participation Agreement

Contact

Web site:

Click here to visit

Telephone:

1-866-529-7462

 

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