Putnam 529 for America (nevada 529 College Savings Plan)

529 PLANS

Putnam 529 for America

Nevada

Launched in October 2010, Nevada's Putnam 529 for America advisor-sold 529 savings plan offers an age-based option, 3 goal-based options, 10 individual-fund options, and 4 options consisting of the Putnam Absolute Return Funds. The 10 individual-fund options include several non-Putnam mutual funds. To find a financial advisor in your area, use the Directory of Financial Professionals.

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
4.08 3.59 3.80 3.80 0.00

Find an advisor

Enroll in Putnam 529 for America through a financial advisor. Search our directory of qualified financial professionals to find one near you.

General

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Program type:

Savings

How to enroll:

Enroll through a financial advisor. Find a Professional

Initial year of operation:

2010

State agency(ies):

Board of Trustees of the College Savings Plans of Nevada

Program manager:

Putnam Investments

Program distributor:

Putnam Retail Management

Manager contract term:

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Eligibility

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State residency requirements:

None

Who can be a participant/owner in the program?

U.S. citizens and resident aliens, UGMA/UTMA custodians, trusts, and 501(c)(3) organizations.

Significant time or age restrictions imposed by the program:

None

Contributions

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Maximum contributions:

Accepts contributions until all 529 account balances in Nevada's 529 plans for the same beneficiary reach $370,000.

Minimum contributions:

$25 minimum initial contribution, currently being waived.

Investment Options

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Age-based investment options:

The Age-Based Asset Allocation Investment Option contains 22 portfolios: newborn through age 21+. Contributions are allocated among 5 Putnam-managed asset-allocation portfolios based on the age of the beneficiary.

Static investment options:

3 goal-based options (Aggressive Growth, Growth, and Balanced), 4 Putnam Absolute Return Funds options, and 10 individual-fund options.

Underlying investments:

Mutual funds from Putnam, MFS, Principal, Federated, and State Street.

Underlying fund allocations:

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Portfolio Fees & Performance Lookup

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See Investment Options

Fees & Expenses

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Enrollment or application fee:

None, but contributions may be subject to a sales charge depending on share class.

Account maintenance fee:

$15 annual account maintenance fee for accounts with less than $25,000, waived for residents of Nevada, accounts in an automatic investment plan, or participants in particular corporate payroll deduction plans and affinity programs.

Program management fees:

0.10% administrative fee to the state, plus reimbursed expenses of up to 0.04%, plus distribution/servicing fees as follows:

Money Market option: 0.25% (Class A), 0.25% (Class B), 0.50% (Class C)

Absolute Return Funds 100 and 300: 0.25% (Class A), 0.45% (Class B), 1.00% (Class C)

All other options: 0.25% (Classes A and D), 1.00% (Class B); 1.00% (Class C)

Expenses of the underlying investments:

Ranges from 0.57% to 0.79% (portfolio weighted average) in the age-based and static multi-fund portfolios, and from 0.16% to 0.94% in the individual fund portfolios.

Total asset-based expense ratio:

Class A: 0.55% - 1.33%
Class B: 0.95% - 2.08%
Class C: 1.30% - 2.08%
Class D: 0.96% - 1.18%

Broker loads and commissions:

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Breakpoint pricing:

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Taxes and other Benefits

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Program match on contributions:

None.

State tax deduction or credit for contributions:

Not applicable. Nevada does not have a personal income tax.

State tax treatment of qualified distributions:

Not applicable. Nevada 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?

The Nevada Putnam Scholarship Program was established in 2014 and provides one-time awards of up to $100 to eligible Accounts. To be eligible for an award under the scholarship, an account must meet each of the following requirements: (i) it must be owned by a Nevada resident, (ii) the account must have been open for at least 12 months and (iii) the account balance, excluding award amounts, must be at least $1,000.

Statutory protection of an account from creditors:

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Distributions & Terminations

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To whom are distributions made payable:

Eligible educational institution, beneficiary, or account owner, as directed by the account owner.

Account Changes

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Documents, Access & Reporting

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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

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Web site:

Click here to visit

Telephone:

1-877-788-6265

State News

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