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Delaware College Investment Plan
Delaware
Delaware College Investment Plan, a Fidelity-managed 529 plan follows the same approach as other Fidelity plans in Arizona, Massachusetts and New Hampshire. It features three age-based options; one using Fidelity mutual funds; one using Fidelity index mutual funds; and a third multi-firm option with portfolios that invest in funds offered by several different companies. The plans also offer 11 static options, and one option that invests in an interest-bearing deposit account.
5-Cap Rating
| Resident: |  |
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| Non-Resident: |
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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 |
|---|---|---|---|---|
| 2.27 | 3.56 | 4.20 | 3.60 | 0.00 |
General
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.
Program type:
Savings
Telephone:
1-800-544-1655
Web site:
How to enroll:
Enroll directly with the program.
Initial year of operation:
1998
State agency(ies):
Delaware College Investment Board
Program manager:
Fidelity Investments
Program distributor:
Fidelity Brokerage Services, LLC
Manager contract term:
Premium subscription required for this data.
Eligibility
State residency requirements:
None
Who can be a participant/owner in the program?
U.S. citizens and resident aliens at least 18 years old, 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 Delaware's 529 plan for the same beneficiary reach $350,000.
Minimum contributions:
With lump-sum contributions, the minimum initial contribution is $50, and the minimum subsequent contribution is $25. With the automatic investment plan, the minimum contribution level is $15 per month or $45 per quarter.
Investment Options
Age-based investment options:
Choose between 3 age-based options, one invested in Fidelity mutual funds, another invested in Fidelity index mutual funds, and a third multi-firm option with portfolios that invest in funds offered by several different companies. Contributions are placed into the portfolio corresponding to the beneficiary’s age. The portfolios automatically shift to a more conservative investment allocation over time.
Static investment options:
Select from 6 multi-fund portfolios, 5 individual-fund portfolios and the Bank Deposit Portfolio.
Underlying investments:
Fidelity Investments, Aston, BlackRock, Credit Suisse, Harbor, JPMorgan, Royce, Acadian Funds, Causeway, MFS, William Blair, Western Asset, Natixis, Invesco, Eaton Vance, and PIMCO mutual funds. For the Bank Deposit Portfolio only, a deposit in a FDIC-insured interest-bearing account.
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.
Account maintenance fee:
None.
Program management fees:
0.15% for the Fidelity index fund options (includes 0.025% state fee); 0.20% for the Fidelity fund options (includes 0.05% state fee); 0.35% for the multi-firm fund options (includes 0.05% state fee). For the Bank Deposit Portfolio, there is a 0.10% Program Management Fee (includes 0.05% state fee) and is based on the Federal Funds Target Rate.
Expenses of the underlying investments:
Ranges from 0.10% to 0.20% annualized in the Fidelity index fund portfolios, from 0.36% to 0.81% annualized in the Fidelity funds portfolios, and 0.59% to 1.05% in the multi-firm portfolios. For the Bank Deposit Portfolio, there is no underlying fund expense. There is, however, a Bank Administration Fee, which ranges from 0.00%-0.40% and is based on the Federal Funds Target Rate.
Total asset-based expense ratio:
0.25% - 1.40%
Taxes and other Benefits
Program match on contributions:
None.
State tax deduction or credit for contributions:
None.
State tax treatment of qualified distributions:
Qualified distributions from Delaware and non-Delaware 529 plans are exempt.
State tax treatment of rollovers:
Delaware follows federal tax-free treatment.
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?
Yes, Fidelity Investments 529 College Rewards American Express Card rebates 2% of purchases.
Statutory protection of an account from creditors:
Premium subscription required for this data.
Distributions & Terminations
To whom are distributions made payable:
To whomever the account owner specifies - the account owner, the beneficiary, a school, or anyone else.
Account Changes
Policy regarding participant/owner changes:
Account ownership may not be transferred prior to the owner's death or incapacity.
Documents, Access & Reporting
Does participant have online password-protected access to account?
Yes
Can the complete enrollment process including funding be done online?
Yes
Documents and other services accessible or downloadable on the program's public Web site:
Premium subscription required for this data.
Plan News
- Fidelity adds multi-manager option in DE 529 plan (10/04/2011)
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