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529 PLANS

Tomorrow's Scholar 529 Plan

Wisconsin

Voya (formerly ING), under contract with TIAA-CREF Tuition Financing, Inc., manages Wisconsin's Tomorrow's Scholar® 529 savings program. ING succeeded Wells Fargo as program manager in late October 2012. The revised program features nine age-based options, nine static allocation options, and 21 single fund options utilizing mutual funds managed by Voya, TIAA-CREF, BlackRock, Columbia, Lazard, Wells Fargo, CBRE Clarion, RBC, Wellington, Thornburg, Ballie Gifford, T. Rowe, Templeton, JP Morgan, Delaware, and PIMCO. To find a financial advisor in your area, use the Find a 529 Pro Directory. To find a financial advisor in your area, use the Find a 529 Pro Directory.

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
3.87 3.39 3.33 4.60 0.46

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General

Program type:

Savings

How to enroll:

Enroll through a financial advisor. Find a Professional

Initial year of operation:

2001, but substantially changed in 2012

State agency(ies):

Wisconsin Department of Administration

Program manager:

Voya (Voya Investments Distributor, LLC and Voya Funds Services, LLC)

Program distributor:

Voya Investments Distributor, LLC

Manager contract term:

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Eligibility

State residency requirements:

None

Who can be a participant/owner in the program?

Individuals and Joint Owners of legal age, 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 Wisconsin's 529 plans for the same beneficiary reach $330,000.

Minimum contributions:

$250, or $25 per month with the automatic contribution plan.

Investment Options

Age-based investment options:

The Age-Based Option contains 9 portfolios offering a mix of underlying funds. Contributions are placed into the portfolio corresponding to the age of the beneficiary, and later reassigned to more conservative portfolios as the beneficiary approaches college age. Account owners may use the beneficiary's actual age or hypothetical age at enrollment.

Static investment options:

Select among 9 multi-fund portfolios with varying risk tolerances and 21 single fund options.

Underlying investments:

Baillie Gifford, BlackRock, Clarion, Columbia, Delaware, HCM, JP Morgan, Lazard, LSV, Northern, TIAA-CREF, T. Rowe Price, Templeton, Voya IM, and Wellington.

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, but contributions may be subject to a sales charge depending on share class.

Account maintenance fee:

$25 annually per account option with $25,000 or less, waived with automatic deposits of $25 per month in each option (active for the 12 previous months without interruption or since account opening).

Program management fees:

0.18% management fee (includes 0.10% fee to the state), plus distribution/servicing fees of 0.25% (Class A), 1.00% (Class AR for Rollovers), 1.00% (Class C), 0.50% (Class C1; TIAA-CREF portfolios), none (Class W), and 0.05% for TIAA-CREF Principal Protection Option. Class AR shares convert to Class A shares after one year at which time distribution/servicing fees are 0.25%. Class C shares convert to Class A shares after six years, at which time distribution/servicing fees are 0.25%.

Expenses of the underlying investments:

Ranges from 0.44% to 0.75% (portfolio weighted average) in the age-based and static allocation portfolios, 0.07% to 1.11% in the single fund portfolios, none for the TIAA-CREF Principal Protection portfolio.

Total asset-based expense ratio:

Class A: 0.23% - 1.54%
Class AR (for rollovers): 1.25% - 2.29%
Class C: 1.62% - 2.29%
Class C1 (TIAA-CREF portfolios): 0.75% - 0.83%
Class W: 0.25% - 1.29%

Broker loads and commissions:

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Breakpoint pricing:

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Does breakpoint pricing include non-529 assets under rights of accumulation policies

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Taxes and other Benefits

Program match on contributions:

None.

State tax deduction or credit for contributions:

Contributions to a Wisconsin 529 plan of up to $3,050 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. 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. Beginning in 2010, parents no longer need to claim their child as a dependent in order to claim the deduction; however, the maximum deduction is reduced to $1,525 for a parent who is married and filing separately or who is divorced, unless the divorce judgment specified a different division of the $3,050 combined maximum.

Value of in-state tax benefits:

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State tax recapture provisions:

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.

State tax treatment of rollovers:

Wisconsin follows federal tax-free treatment.

Does the sponsoring state exclude the value of an account for state financial aid purposes?

Yes

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:

Account owner, beneficiary, eligible educational institution, or other third party, as directed by 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:

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Contact

Web site:

Click here to visit

Telephone:

1-866-677-6933

Telephone for broker use:

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State News

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