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Louisiana

Requiring Louisiana residency to participate, this 529 savings program is subsidized by the state, resulting in no costs to the participant above the underlying fund costs. Vanguard funds and the State Treasurer's fixed income fund are utilized in the age-based and static portfolio options.

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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.

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Program type:

Savings

How to enroll:

Enroll directly with the program.

Initial year of operation:

1997

State agency(ies):

Louisiana Tuition Trust Authority (LATTA)

Program manager:

Louisiana State Treasurer

Program distributor:

Not applicable

Manager contract term:

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Eligibility

State residency requirements:

The account owner or beneficiary must be a Louisiana resident at the time of program enrollment.

Who can be a participant/owner in the program?

U.S. citizens and resident aliens at least 18 years old, UGMA/UTMA custodians, and legal entities

Significant time or age restrictions imposed by the program:

Refunds requested from the Fixed Earnings fund within 12 months of opening the account will not return any interest.

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Contributions

Maximum contributions:

Accepts contributions until all account balances in Louisiana's 529 plan for the same beneficiary reach $259,720.

Minimum contributions:

$10

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Investment Options

Age-based investment options:

The Age-Based Option contains four portfolios of underlying mutual funds. Contributions are placed into the portfolio corresponding to the beneficiary’s age, and later reassigned to more conservative portfolios as the beneficiary approaches college age.

Static investment options:

Select between the Louisiana Principal Protection Option (100% invested in the state-managed Fixed Earnings Fund), the Total Equity Option (100% invested in the Vanguard Total Stock Market Index Fund), the Equity Plus International Option (80% in Vanguard Total Stock Market Index Fund and 20% in Vanguard Total International Stock Index Fund), and three additional options offering a blend of the Fixed Earnings Fund and the Vanguard Total Stock Market Index Fund (Balanced Option, Equity-Plus Option, and Principal Preservation-Plus Option).

Underlying investments:

Vanguard LifeStrategy funds (in the Age-Based Option), the Louisiana State Treasurer's fund, the Vanguard Total Stock Market Index Fund Institutional Shares, and the Vanguard Total International Stock Index Fund.

Underlying fund allocations:

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Investment performance link:

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Portfolio Fees & Performance Lookup

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Fees & Expenses

Enrollment or application fee:

None

Account maintenance fee:

None

Program management fees:

None

Expenses of the underlying investments:

None for the Fixed Earnings fund; approximately 0.23% - 0.24% for the Vanguard LifeStrategy funds; approximately 0.05% for the Vanguard Total Stock Market Index Fund Institutional Shares and 0.27% for the Vanguard Total International Stock Index Fund.

Total asset-based expense ratio:

0.0125% - 0.24%; None for Fixed Earnings Fund option

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Taxes and other Benefits

Program match on contributions:

The state provides an earnings enhancement equal to 2% to 14% (depending on income) of a Louisiana participant's contributions when the account is used for qualifying expenses

State tax deduction or credit for contributions:

Contributions to the Lousiana 529 plan of up to $2,400 per account per year for an individual taxpayer, and $4,800 per beneficiary per year for married taxpayers filing jointly, are deductible in computing Louisiana taxable income. Any unused cap amount with an active account may be carried forward to increase the cap in subsequent tax years. Double deductions of up to $4,800 per year ($9,600 married file jointly) may be claimed for an account opened for an eligible needy, non-related beneficiary. Contribution deadline is December 31.

Value of in-state tax benefits:

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Does participation in the program provide beneficiaries with any advantages in qualifying for resident tuition status at state institutions?

Does the program have a formal agreement with a rewards program or outside scholarship program?

Statutory protection of an account from creditors:

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Distributions & Terminations

To whom are distributions made payable:

Qualified withdrawals are made payable to the educational institution, beneficiary, or account owner; nonqualified withdrawals (refunds) are made payable to the account owner.

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