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New Mexico's Scholar'sEdge, an advisor-sold 529 savings program, managed by OppenheimerFunds, features age-based and static portfolio options utilizing OppenheimerFunds, American Century, Dreyfus, Monetta, and MainStay mutual funds along with a stable value option. To find a financial advisor in your area, use the Directory of Financial Professionals.
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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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.
Education Trust Board of New Mexico
OFI Private Investments, Inc., a subsidiary of OppenheimerFunds, Inc.
OppenheimerFunds Distributor, Inc.
Through June 30, 2020.
U.S. citizens and resident aliens at least 18 years old, emancipated minors, UGMA/UTMA custodians, and legal entities.
Accepts contributions until all account balances in New Mexico's 529 plans for the same beneficiary reach $400,000.
With lump-sum contributions, the minimum initial contribution is $250 ($25 per portfolio), and the minimum subsequent contribution is $25. With the automatic investment plan, the minimum contribution level is $25.
The Age-Based Option contains 8 portfolios invested in mutual funds. Contributions are placed into six of the portfolios corresponding to the age of the beneficiary and later reassigned to more conservative portfolios as the beneficiary approaches college. Two fixed income options are also available within the age-based approach.
Select among 8 multi-fund portfolios with varying risk tolerances, 28 individual-fund portfolios, and the Capital Preservation Portfolio.
OppenheimerFunds, American Century, Dreyfus, Monetta and MainStay mutual funds; the Capital Preservation Portfolio invests primarily in investment contracts issued by New York Life Insurance Company.
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
None, but contributions may be subject to a sales charge depending on share class.
$25 annually for accounts with less than $25,000, waived if either the designated beneficiary or account owner is a New Mexico resident and for accounts in an automatic contribution plan.
0.20% management fee (includes 0.10% fee to the state), plus distribution/servicing fees of 0.25% for Class A and 1.00% for Class C (0.50% for class C of the Capital Preservation Portfolio). The Institutional Money Market Portfolio has no distribution/servicing fees
Ranges from 0.40% to 0.67% (portfolio weighted average) in the age-based and static multi-fund portfolios, from 0.15% to 1.29% in the individual-fund portfolios, and 0.01% in the Capital Preservation Portfolio.
Class A: 0.35% - 1.74%
Class C: 0.35% - 2.49%
Maximum initial sales charge: 4.75%
Dealer: 4% commission and 0.25% annual trail beginning immediately
Class B: Closed to new accounts and additional purchases by existing Participants as of October 28, 2011
CDSC: 1% within the first 12 months only (0.50% on Capital Preservation Portfolio)
Dealer: 1% commission and 1% annual trail beginning in month 13
A share sales load (dealer commission):
Less than $50,000 - 4.75% (4.00%)
$50,000 - $99,999 - 4.50% (3.75%)
$100,000 - $249,999 - 3.50% (2.75%)
$250,000 - $499,999 - 2.50% (2.00%)
$500,000 - $999,999 - 2.00% (1.60%)
$1 million and over - 0.00% (1.00%), 1% CDSC imposed when redeemed within 18 months
Taxes and other Benefits
Contributions to a New Mexico 529 plan are fully deductible in computing New Mexico taxable income.
Investment time horizon:
18 yrs (i.e. newborn): 0.21% annualized
10 yrs (i.e. 8-yr old): 0.38% annualized
2 yrs (i.e. 16-yr old): 1.93% annualized
Based on 4.9% NM tax rate. (For assumptions see 529 State Tax Calculator.)
The principal portion of rollovers and nonqualified withdrawals from this plan are included in New Mexico taxable income to the extent of prior New Mexico tax deductions.
Qualified distributions from New Mexico and non-New Mexico 529 plans are exempt.
New Mexico follows federal tax-free treatment except that outbound rollovers are subject to the recapture of prior state tax deductions.
Does participation in the program provide beneficiaries with any advantages in qualifying for resident tuition status at state institutions?
Distributions & Terminations
Eligible educational institution, beneficiary, or account owner, as directed by the account owner
Accepts requests to transfer account ownership.
Documents, Access & Reporting
Contactvisit Enroll Now