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Nebraska Education Savings Trust -- Direct College Savings Plan
Nebraska Education Savings Trust -- Direct College Savings Plan switched program managers in December 2010 from Union Bank and Trust Company of Lincoln, Nebraska to First National Bank of Omaha. Accounts can be linked to the Upromise rewards service.
In Savingforcollege.com's latest quarterly rankings, this plan ranked in the top 10 for 1-year, 3-year, 5-year and/or 10-year performance.
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)
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Access enrollment materials and open an account with Nebraska Education Savings Trust -- Direct College Savings Plan in just a few easy steps.Enroll Now
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.
2001, but substantially changed December 2010
Nebraska State Treasurer and Nebraska Investment Council
First National Bank of Omaha
First National Bank of Omaha
Through 2017. May be extended for and additional three one-year terms through mutual agreement.
U.S. resident individuals with a valid Social Security number or taxpayer ID number, UGMA/UTMA custodians, legal entities.
Accepts contributions until all account balances in Nebraska's 529 plans for the same beneficiary reach $360,000.
The Age-Based Portfolios option offers a choice among 4 different risk levels (Aggressive, Growth, Index, and Conservative).
Select among 3 multi-fund portfolios--Growth, Balanced/Index, and Conservative--and 16 individual-fund portfolios including a savings account option.
State Street, DFA, MetWest, Tributary, T. Rowe Price, iShares, Vanguard, Goldman Sachs
Click here, you need Microsoft Excel to open this document.
Click here to visit, link to the program website containing most current performance data.
Fees & Expenses
0.27% manager fee and a 0.03% fee to the state; 0.18% manager fee and 0.02% state fee for the Bank Savings option.
Ranges from 0.05% to 0.18% (portfolio weighted average) in the age-based and static multi-fund portfolios, and from 0.0175% to 0.99% in the individual-fund portfolios. None for the Bank Savings option.
0.20% - 1.29%
Taxes and other Benefits
Contributions to a Nebraska 529 plan of up to $10,000 per year for single taxpayers and married taxpayers filing jointly, and up to $5,000 per year for married taxpayers filing separately, are deductible in computing Nebraska taxable income. Contributions made by the account owner or parents or guardians of UTMA/UGMA accounts are deductible. Contribution deadline is December 31 postmark.
Investment time horizon:
18 yrs (i.e. newborn): 0.30% annualized
10 yrs (i.e. 8-yr old): 0.53% annualized
2 yrs (i.e. 16-yr old): 2.68% annualized
Based on 6.84% NE tax rate. (For assumptions see 529 State Tax Calculator.)
The principal portion of rollovers and nonqualified withdrawals from this plan are included in Nebraska taxable income to the extent of prior Nebraska tax deductions.
Qualified distributions from Nebraska and non-Nebraska 529 plans are exempt.
Nebraska follows federal tax-free treatment except that outbound rollovers are subject to the recapture of prior state tax deductions.
Does participation in the program provide beneficiaries with any advantages in qualifying for resident tuition status at state institutions?
Yes, with the Upromise rewards service.
Under Nebraska law, an account in a Nebraska 529 plan is not susceptible to any levy, execution, judgment, or other operation of law, garnishment, or other judicial enforcement, and the amount is not an asset or property of either the participant or the beneficiary for purposes of any state insolvency laws.
Distributions & Terminations
Eligible educational institution, beneficiary, or account owner, as directed by the account owner
Accepts requests to transfer account ownership.
Documents, Access & Reporting
Contactvisit Enroll Now
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