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TIAA-CREF succeeded Wells Fargo as manager of Wisconsin's Edvest 529 savings program in October 2012. The revised program features two age-based options, eight static portfolio options, and five individual fund options utilizing mutual funds from TIAA-CREF, DFA and PIMCO. A CD option and a principal plus interest option are also available.
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)
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Did you know?
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.
1997, but substantially changed in 2012
Wisconsin Department of Administration
TIAA-CREF Tuition Financing, Inc.
TIAA-CREF Individual & Institutional Services, LLC
Through October 29, 2017.
U.S. citizens and resident aliens of legal age, UGMA/UTMA custodians, and legal entities.
Accepts contributions until all account balances in Wisconsin's 529 plans for the same beneficiary reach $440,300.
$25 per investment option, or $15 per investment option with the automatic contribution plan.
The Age-Based Option is offered in 2 different risk levels, each containing 9 portfolios of underlying mutual funds. Contributions are placed into the portfolio corresponding to the number of years to expected enrollment, and later reassigned to more conservative portfolios as the beneficiary approaches college enrollment.
Select among 3 index-based multi-fund portfolios (Aggressive, Moderate, Conservative), 3 active-based multi-fund portfolios (Aggressive, Moderate, Conservative), two additional multi-fund portfolios, 5 individual-fund portfolios, a bank CD Portfolio and a principal plus interest portfolio that guarantees an annual interest rate of 1% - 3%.
Mutual funds managed by TIAA-CREF, DFA, MetWest, T. Rowe Price and Franklin Templeton.
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
0.08% management fee, none for the Principal Plus Interest Portfolio. These figures do not include the state administrative fee (0.10%) which is currently being waived.
Ranges from 0.07% to 0.35% (portfolio weighted average) in the age-based and static multi-fund portfolios, 0.06% to 0.19% in the individual-fund portfolios, none in the Principal Plus Interest portfolio. The CD option has no underlying expense beyond the management and state administration fee.
0.08% - 0.43%
Taxes and other Benefits
Contributions to a Wisconsin 529 plan of up to $3,100 per beneficiary per year (any filing status) are deductible in computing Wisconsin taxable income. The maximum annual deductible will be increased annually to reflect inflation. Contributions in excess of the maximum annual limit may be carried forward to one or more future years and deducted up to the then annual maximum deductible amount each year until all amounts invested have been deducted from Wisconsin taxable income. Incoming rollovers from other states' 529 plans are accepted. Beginning with the 2015 tax year, the portion that is principal or contributions may qualify for reducing Wisconsin taxable income, including carry-forward for subsequent years; the portion attributed to growth is not eligible. Amounts that received an earlier Wisconsin reduction are not eligible. Contributors do not need to be the account owner to claim the deduction. Any Wisconsin taxpayer may claim a deduction for contributions to any account. Contribution deadline is April 15 of the year following the tax year. Parents no longer need to claim their child as a dependent in order to claim the deduction; however, the maximum deduction is reduced to $1,550 for a parent who is married and filing separately or who is divorced, unless the divorce judgment specified a different division of the $3,100 combined maximum.
Investment time horizon:
18 yrs (i.e. newborn): 0.33% annualized
10 yrs (i.e. 8-yr old): 0.59% annualized
2 yrs (i.e. 16-yr old): 3.00% annualized
Based on 7.65% WI tax rate. (For assumptions see 529 State Tax Calculator.)
Non-qualified withdrawals & rollovers to other 529 plans must be added back to Wisconsin taxable income unless eligible for the federal non-qualified withdrawal penalty waiver: death or disability of the beneficiary or withdrawals equal to the amount of a scholarship award in such period of such award. Withdrawals taken within 365 days of a contribution must be added back to WI taxable income if previously deducted and the account balance was less than the withdrawal amount prior to the contribution.
Qualified distributions from Wisconsin and non-Wisconsin 529 plans are exempt. Under Wisconsin law, a beneficiary's right to qualified withdrawals from a Wisconsin 529 plan is not subject to garnishment, attachment, execution, or other process of law.
Wisconsin follows federal tax-free treatment.
Does participation in the program provide beneficiaries with any advantages in qualifying for resident tuition status at state institutions?
Under Wisconsin law, accounts are not subject to levy, lien, garnishment, attachment, execution, or other process of law.
Distributions & Terminations
Account owner, beneficiary, eligible educational institution, or other third party, as directed by account owner.
Accepts requests to transfer account ownership.
Documents, Access & Reporting
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