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NextGen College Investing Plan -- Client Direct Series

Maine

Merrill Lynch manages the Maine NextGen College Investing Plan -- Client Direct Series 529 program utilizing BlackRock (including iShares), Franklin Templeton and MFS funds in its age-based and static options. In addition, the Principal Plus Portfolio and NextGen Savings Portfolio are offered.

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
3.28	3.69	3.63	4.60	0.25

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

Telephone:

1-877-463-9843

Web site:

Click here to visit

How to enroll:

Enroll directly with the program.

Initial year of operation:

1999

State agency(ies):

Finance Authority of Maine (FAME) with investment oversight provided by the State Treasurer

Program manager:

Merrill Lynch, Pierce, Fenner & Smith Incorporated

Program distributor:

Merrill Lynch, Pierce, Fenner & Smith Incorporated

Manager contract term:

Premium subscription required for this data.

Eligibility

State residency requirements:

None

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:

None

Contributions

Maximum contributions:

Accepts contributions until all account balances in 529 plans for the same beneficiary reach $380,000.

Minimum contributions:

With lump-sum contributions, the minimum initial contribution is $250 ($25 per portfolio); may be waived for Maine residents eligible for certain grants and the minimum subsequent contribution is $50 ($25 per portfolio). With the automatic investment plan, the minimum contribution level is $50 per month.

Investment Options

Age-based investment options:

The Age-Based Portfolios come in 2 series, one investing in BlackRock mutual funds and the other investing in iShare exchange-traded funds (ETF). Each contains 6 portfolios of underlying 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 from an MFS fixed-income portfolio, an iShares fixed-income portfolio, a Franklin Templeton balanced portfolio, an iShares Diversified Equity Portfolio, two BlackRock equity portfolios, the Principal Plus Portfolio or NextGen Savings Portfolio.

Underlying investments:

BlackRock, Franklin Templeton, iShares, and MFS. The Principal Plus Portfolio consists of one or more guaranteed investment contracts issued by one or more insurance companies, corporate fixed income investments, cash equivalents and/or similar instruments. The NextGen Savings Portfolio is comprised of an interest-bearing bank deposit account with Bank of America, N.A.

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 for the NextGen Savings Portfolio; 0.07% for the BlackRock Equity Index Portfolio (no state fee), 0.20% for the iShares portfolios (plus 0.05% state administrative fee), and 0.10% for all other portfolios (no state fee)

Expenses of the underlying investments:

Ranges from 0.16% to 0.81% (portfolio weighted average) in the age-based and static multi-fund portfolios, and 0.30% in the BlackRock Equity Index Portfolio. None for the Principal Plus Portfolio and NextGen Savings Portfolio.

Total asset-based expense ratio:

0.00% - 0.91%

Taxes and other Benefits

Program match on contributions:

New accounts opened for Maine residents after January 1, 2011 are eligible for three one-time grants: a NextGen Initial Matching Grant of $200 if the account is opened with at least $50; a NextStep Matching Grant which provides a one-third match on contributions made in the first two years after opening an account up to a maximum of $400; and a NextGen Automated Funding Grant of $50 by choosing the automated funding option.

Separately, the Harold Alfond College Challenge makes a one-time $500 grant available to all Maine babies to start a NextGen account before their first birthday, regardless of family income.

State tax deduction or credit for contributions:

Contributions to Maine AND non-Maine 529 plans of up to $250 per beneficiary per year are deductible in computing Maine taxable income for taxpayers with federal adjusted gross income of $100,000 or less (single or married filing separate) or $200,000 or less (joint or head of household).