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Direct Portfolio College Savings Plan WY
Wyoming
This 529 college savings program is authorized by the state of Wyoming in affiliation with CollegeInvest Colorado. It features age-based and static portfolio options utilizing Vanguard mutual funds, and accounts can be linked to the Upromise Rewards Service.
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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:
2006
State agency(ies):
Wyoming Treasurer's Office in affiliation with CollegeInvest, a division of the Colorado Department of Higher Education
Program manager:
Upromise Investments, Inc. and The Vanguard Group, Inc.
Program distributor:
Vanguard Marketing Corporation
Manager contract term:
Premium subscription required for this data.
Eligibility
State residency requirements:
None, but this is the Wyoming-branded version of Colorado's 529 plan.
Who can be a participant/owner in the program?
U.S. citizens or resident aliens, trusts, 501(c)(3) organizations, and local governments
Significant time or age restrictions imposed by the program:
None
Contributions
Maximum contributions:
Accepts contributions until all account balances in Colorado's 529 plans for the same beneficiary reach $280,000.
Minimum contributions:
The minimum initial contribution is $25, and the minimum subsequent contribution is $15.
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 three individual-fund portfolios.
Underlying investments:
Vanguard mutual funds
Underlying fund allocations:
Premium subscription required for this data.
Investment performance link:
Premium subscription required for this data.
Portfolio Fees & Performance Lookup
Premium subscription required for this data.
Fees & Expenses
Enrollment or application fee:
None
Account maintenance fee:
$20 for accounts with $10,000 or less, waived for Colorado and Wyoming residents and for accounts opting to receive all documents electronically.
Program management fees:
0.52% manager fee; fee includes underlying fund expenses and the 0.10% to the state of Colorado.
Expenses of the underlying investments:
Not applicable, included in the program management fee.
Total asset-based expense ratio:
0.52%
Taxes and other Benefits
Program match on contributions:
None
State tax deduction or credit for contributions:
Not applicable. Wyoming does not have a personal income tax.
State tax treatment of qualified distributions:
Not applicable. Wyoming 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?
Yes, with the Upromise rewards service
Statutory protection of an account from creditors:
Premium subscription required for this data.
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 change 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:
1-800-448-2424
Web site:
State News
- Article: Wyoming ends college savings plan (07/12/2006)
- Wyoming to close its 529 plan, encourages rollovers to Colorado (07/11/2006)
- State officials mulling closure of Wyoming 529 (02/17/2004)
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