529 PLANS

Nebraska Education Savings Trust -- Advisor College Savings Plan

Nebraska

Nebraska Education Savings Trust -- Advisor 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. 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
3.08 4.00 4.90 4.20 0.40

Find an advisor

Enroll in Nebraska Education Savings Trust -- Advisor College Savings Plan 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:

2001, but substantially changed December 2010

State agency(ies):

Nebraska State Treasurer and Nebraska Investment Council

Program manager:

First National Bank of Omaha

Program distributor:

First National Capital Markets, Inc

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. resident individuals with a valid Social Security number or taxpayer ID number, UGMA/UTMA custodians, legal entities.

Significant time or age restrictions imposed by the program:

None

Contributions

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Maximum contributions:

Accepts contributions until all account balances in Nebraska's 529 plans for the same beneficiary reach $360,000.

Minimum contributions:

No minimum.

Investment Options

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Age-based investment options:

The Age-Based Portfolios option offers a choice among 4 different risk levels (Aggressive, Growth, Index, and Conservative).

Static investment options:

Select among 3 multi-fund portfolios with varying risk tolerances and 20 individual-fund portfolios including a savings account option.

Underlying investments:

American Funds, Federated, State Street, iShares, DFA, Dodge & Cox, MetWest, Tributary, T. Rowe Price, Vanguard, and Goldman Sachs

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.

Account maintenance fee:

None.

Program management fees:

All portfolios except Age-Based Conservative 19+, Goldman Sachs Financial Square Government Money Market, and Bank Savings option:
0.27% and a state fee of 0.03%, plus distribution fees of 0.25% (Class A) or 1.00% (Class C).

Age-Based Conservative 19+ and Goldman Sachs Financial Square Government Money Market Portfolio:
0.27% and a state fee of 0.03%.

Bank Savings Option:
0.18% and a state fee of 0.02%

Expenses of the underlying investments:

Ranges from 0.07% to 0.257% (portfolio weighted average) in the age-based and static multi-fund portfolios, from 0.0175% to 0.99% in the individual-fund portfolios, none for the Bank Savings option.

Total asset-based expense ratio:

Class A: 0.20% - 1.54%
Class C: 0.20% - 2.29%

Broker loads and commissions:

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Breakpoint pricing:

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Does breakpoint pricing include non-529 assets under rights of accumulation policies

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Taxes and other Benefits

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Program match on contributions:

None.

State tax deduction or credit for contributions:

Contributions by an account owner who files a Nebraska state income tax return, including the principal and earnings portions of rollovers from another qualified college savings plan not issued by the State of Nebraska, are deductible in computing the account owner’s Nebraska taxable income for Nebraska income tax purposes in an amount not to exceed $10,000 ($5,000 for married taxpayers filing separate returns) in the aggregate for all contributions to all accounts within the Trust in any taxable year. Contributions by a custodian of an UGMA or UTMA account who is also the parent or guardian of the Beneficiary of an UGMA or UTMA account may claim this deduction. Contribution deadline is December 31 postmark.

State tax recapture provisions:

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.

State tax treatment of qualified distributions:

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

State tax treatment of rollovers:

Nebraska 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?

Yes, with Upromise. The Upromise Rewards service is free to join and offers cash back for college. Plus, members can earn additional cash back with the Upromise MasterCard®.

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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Policy regarding participant/owner changes:

Accepts requests to transfer account ownership.

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:

888-659-6378

Plan News

State News

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