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College Savings Iowa
College Savings Iowa, a Vanguard-managed 529 savings program features four different tracks in its age-based option along with ten static portfolios, all utilizing Vanguard funds. 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)
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.
Enroll directly with the program.
State Treasurer of Iowa
State Treasurer of Iowa, Ascensus College Savings, and The Vanguard Group
State Treasurer of Iowa and Vanguard Marketing Group
Through May 12, 2017.
U.S. citizens and resident aliens at least 18 years old, and UGMA/UTMA custodians.
Accepts contributions until all account balances in Iowa's 529 plans for the same beneficiary reach $320,000.
$25, or $15 per pay period via payroll deduction.
The Age-Based option is offered in 4 different risk levels (Tracks A, B, C, and D) each containing 4 or 5 portfolios of underlying mutual funds. Contributions are placed into the portfolio corresponding to the risk level selected and the age of the beneficiary, and later reassigned to more conservative portfolios as the beneficiary approaches college age.
Select among 6 multi-fund portfolios (Aggressive Growth, Growth, Moderate Growth, Conservative Growth, Income, and Conservative Income) and 4 individual-fund portfolios (Vanguard Total Bond Market Index Fund, Vanguard Institutional Total Stock Market Index Fund, Vanguard Total International Stock Index Fund and Vanguard Prime Money Market Fund)
Vanguard mutual funds.
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
0.26% manager fee; fee includes underlying fund expenses.
Not applicable, included in the program management fee.
Taxes and other Benefits
Contributions to an Iowa 529 plan of up to $3,188 for 2016 per beneficiary by an individual, and up to $6,376 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. Iowa residents may elect to treat contributions made through the deadline (excluding extensions) for filing an individual Iowa state income tax return (generally April 30) as having been made in the prior year in order to claim the allowable annual deduction on their Iowa state tax return for the prior year.
Investment time horizon:
18 yrs (i.e. newborn): 0.38% annualized
10 yrs (i.e. 8-yr old): 0.69% annualized
2 yrs (i.e. 16-yr old): 3.51% annualized
Based on 8.98% IA tax rate. (For assumptions see 529 State Tax Calculator.)
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.
Qualified distributions from Iowa and non-Iowa 529 plans are exempt.
Iowa 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?
Distributions & Terminations
Eligible educational institution, beneficiary, or account owner, as directed by the account owner.
Accepts requests to transfer account ownership.
Documents, Access & Reporting