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John Hancock Freedom 529

Alaska

T. Rowe Price and John Hancock have teamed up with Alaska to offer the John Hancock Freedom 529 broker-sold 529 savings program. It features enrollment-based and static portfolios utilizing mutual funds from T. Rowe Price and a number of other fund companies. 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
4.06 2.39 3.47 4.80 0.00

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General

Program type:

Savings

How to enroll:

Enroll through a financial advisor. Find a Professional

Initial year of operation:

2001

State agency(ies):

Education Trust of Alaska

Program manager:

T. Rowe Price Associates, Inc.

Program distributor:

John Hancock Distributors LLC

Manager contract term:

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Eligibility

State residency requirements:

None

Who can be a participant/owner in the program?

U.S. resident individuals of legal age, UGMA/UTMA custodians, and legal entities organized in the U.S.

Significant time or age restrictions imposed by the program:

None

Contributions

Maximum contributions:

Accepts contributions until all account balances in Alaska's 529 plans for the same beneficiary reach $400,000.

Minimum contributions:

With lump-sum contributions, the minimum initial contribution is $1,000 per portfolio, and the minimum subsequent contribution is $50 per portfolio. With the automatic investment plan, the minimum contribution level is $50 per month.

Investment Options

Age-based investment options:

The Enrollment-Based Portfolios contain 6 multi-managed portfolios of underlying mutual funds, ranging from 100% equity to 20% equity. Contributions are placed into the portfolio corresponding to the number of years to expected enrollment based on the age of the beneficiary or as selected by the account owner. 5 portfolios shift to a more conservative investment allocation over time, eventually transferring to the College portfolio.

Static investment options:

Select among 3 multi-fund portfolios (Future Trends Portfolio, Equity Portfolio, and Fixed Income Portfolio), a money market portfolio, a short-term bond portfolio, 3 lifestyle portfolios (Lifestyle Growth 529 Portfolio, Lifestyle Balanced 529 Portfolio, Lifestyle Moderate 529 Portfolio) and 8 individual-fund portfolios. A dollar-cost averaging option provides for automatic monthly reallocations.

Underlying investments:

Mutual funds from American Century Investments, American Funds, BlackRock, Columbia Management, Davis Advisors, Declaration, Deutsche Asset Management, Dimensional Fund Advisors, Epoch, Franklin Templeton Investments, Frontier Capital Management, GMO, Invesco AIM, Jennison Associates, John Hancock, Lord Abbett, Marsico Capital Management LLC, MFC Global Investment Management, Oppenheimer Funds, Perimeter Capital Management, PIMCO, Rainier, RiverSource Investments, Robeco, State Street Global Advisors, Stone Harbor Investment Partners, T. Rowe Price, UBS Global Asset Management, Van Kampen Investments, Wellington Management, Wells Capital Management, and Western Asset Management Company.

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 charges depending on share class.

Account maintenance fee:

$25 charged in November of each year. Waived for account balances of $25,000 or more, for account balances of $75,000 or more when combined with other beneficiary accounts, and for accounts in an automatic contribution plan.

Program management fees:

All portfolios except Money Market:
0.40% (includes state fee of 0.05%) plus distribution fees of 0.25% (Class A) or 1.00% (Class C2).

Money Market Portfolio:
0.30% (no state fee)

Expenses of the underlying investments:

Ranges from 0.53% to 0.94% (portfolio weighted average) in the age-based and static multi-fund portfolios, 0.68% to 0.92% in the individual-fund portfolios, and 0.28% in the money market portfolio.

Total asset-based expense ratio:

Class A: 1.18% - 1.59%
Class C2: 1.93% - 2.34%
Money Market: 0.58%

Broker loads and commissions:

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Breakpoint pricing:

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Taxes and other Benefits

Program match on contributions:

None.

State tax deduction or credit for contributions:

Not applicable. Alaska does not have a personal income tax.

State tax treatment of qualified distributions:

Not applicable. Alaska 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:

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Distributions & Terminations

To whom are distributions made payable:

Beneficiary and an eligible educational institution jointly, an eligible educational institution for the benefit of the beneficiary (FBO), beneficiary, estate of the 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?

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:

1-866-222-7498

Telephone for broker use:

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