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IAdvisor 529 Plan

Iowa

The IAdvisor 529 Plan is managed by Voya Investment Management Co. LLC (formerly ING Investment Management, LLC). ING succeeded Upromise Investments as program manager in March 2013. The revised program features an age-based option, five static allocation options, and 12 single fund options utilizing mutual funds managed by Voya, BlackRock, Clarion, Delaware, JP Morgan, PIMCO, RBC, and Wellington. 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

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General

Program type:

Savings

How to enroll:

Enroll through a financial advisor. Find a Professional

Initial year of operation:

2006, but subtantially changed in 2013

State agency(ies):

State Treasurer of Iowa

Program manager:

Voya Investment Management Co. 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?

U.S. citizens and resident aliens at least 18 years old, and UGMA/UTMA custodians.

Significant time or age restrictions imposed by the program:

None

Contributions

Maximum contributions:

Accepts contributions until all account balances in Iowa's 529 plans for the same beneficiary reach $320,000.

Minimum contributions:

With lump-sum contributions, the minimum initial and subsequent contribution is $250 per investment option ($50 per month per option with the automatic investment plan, $25 per pay period per option with payroll direct deposit).

Investment Options

Age-based investment options:

The Age-Based Option contains 5 portfolios of underlying funds. Contributions are placed into the portfolio corresponding to the beneficiary's age or as selected by the account owner, and later reassigned to more conservative portfolios as the beneficiary approaches college.

Static investment options:

Select among 5 static allocation portfolios and 12 individual-fund portfolios investing in Voya funds managed by BlackRock, Clarion, Delaware, Voya, JPMorgan, PIMCO, RBC, and Wellington.

Underlying investments:

Mutual funds from Voya, Baillie Gifford, BlackRock, Clarion, Delaware, JPMorgan, RBC, Lazard, PIMCO, T. Rowe Price, 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.

Account maintenance fee:

$25 annually, waived if the account balance in each investment option is greater than $25,000; waived for accounts with an automatic investment plan or payroll direct deposit of $100 per month in each investment option running on a monthly basis for 12 consecutive months.

Program management fees:

0.50% (0.40% for Money Market) management fee includes 0.075% fee to the state, plus distribution/marketing fee of 0.25% (Class A) or 1.00% (Class C, except Money Market is 0.25%).

Expenses of the underlying investments:

Ranges from 0.27% to 1.05%.

Total asset-based expense ratio:

Class A: 0.99% - 1.80%
Class C: 0.99% - 2.55%

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:

Contributions to an Iowa 529 plan of up to $3,098 for 2014 per beneficiary by an individual, and up to $6,196 per beneficiary by married taxpayers filing jointly who each make their own contributions, are deductible in computing Iowa taxable income. The maximum deduction increases each year with inflation. Only contributions made by the account owner are deductible. Contribution deadline is December 31 postmark.

Value of in-state tax benefits:

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State tax recapture provisions:

The principal portion of rollovers and nonqualified withdrawals from this plan are included in Iowa taxable income to the extent of prior Iowa tax deductions.

State tax treatment of qualified distributions:

Qualified distributions from Iowa and non-Iowa 529 plans are exempt.

State tax treatment of rollovers:

Iowa follows federal tax-free treatment except that outbound rollovers are subject to the recapture of prior state tax deductions.

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:

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?

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:

1-800-774-5127

Telephone for broker use:

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