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Idaho College Savings Program (IDeal)
Idaho
Upromise Investments, Inc. replaced TIAA-CREF as program manager of this 529 plan in December 2007. It now offers 9 investment options: three age-based options and six fixed portfolios using Vanguard mutual funds.
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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
How to enroll:
Enroll directly with the program.
Initial year of operation:
2001, but substantially changed in December 2007
State agency(ies):
Idaho College Savings Program Board
Program manager:
Upromise Investments, Inc.
Program distributor:
Upromise Investments, Inc.
Manager contract term:
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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 Idaho's 529 plan for the same beneficiary reach $310,000.
Minimum contributions:
$25, or $15 per pay period via payroll deduction
Investment Options
Age-based investment options:
The Age-Based option is offered in three different risk levels (Aggressive, Moderate, and Conservative) each containing four or five portfolios of underlying mutual funds. Contributions are placed into the portfolio corresponding to the risk level selected and the number of years to expected enrollment, and later reassigned to more conservative portfolios as the beneficiary approaches college age.
Static investment options:
Select among five multi-fund portfolios, with varying risk tolerances, and a money-market portfolio.
Underlying investments:
Vanguard mutual funds
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:
$20 annually unless either the account owner or beneficiary is a resident of Idaho
Program management fees:
0.75% program manager fee; fee includes underlying fund expenses and the 0.05% administrative fee to the state
Expenses of the underlying investments:
Not applicable, included in the program manager fee.
Total asset-based expense ratio:
0.75%
Taxes and other Benefits
Program match on contributions:
None
State tax deduction or credit for contributions:
Contributions to the Idaho 529 plan of up to $4,000 per contributor per year are deductible in computing Idaho taxable income. Contribution deadline is December 31.
Value of in-state tax benefits:
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State tax recapture provisions:
The entire amount of non-qualfied distributions must be included in Idaho taxable income. Outbound rollovers by Idaho taxpayers must be included in Idaho taxable income to the extent of amounts deducted on the Idaho return for the current year and for the prior year, effective January 1, 2008.
State tax treatment of qualified distributions:
Idaho law exempts qualified distributions from Idaho and non-Idaho 529 plans via conformity to the federal tax exclusion.
State tax treatment of rollovers:
Outbound rollovers by Idaho taxpayers must be included in Idaho taxable income to the extent of contributions made during the 12 months prior to the rollover, effective January 1, 2008.
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, Upromise Rewards Service
Statutory protection of an account from creditors:
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Distributions & Terminations
To whom are distributions made payable:
Eligible educational institution, 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?
Yes
Documents and other services accessible or downloadable on the program's public Web site:
Premium subscription required for this data.
Contact
Telephone:
1-866-433-2533
Web site:
Plan News
- Upromise and Vanguard to take over Idaho 529 (03/29/2007)
State News
- Idaho changes recapture provision on rollovers (03/18/2010)
- Idaho changes law to require recapture on rollover (04/03/2007)
- Governor signs fixes to Idaho 529 plan (02/17/2003)
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