SHORTCUTS

529 Plan Details:

Enter your state:

World's Simplest College Calculator:

How old is your child?

Find a 529 Pro:

Enter your zip code:

Enroll In a 529 Plan:

View a list of participating plans

OPTIONS

529 PLANS

The Education Plan's College Savings Program

New Mexico

The Education Plan College Savings Program is managed by OppenheimerFunds and features age-based and static portfolio options, some of which are a blend of active-managed funds and index funds, and others are entirely composed of index funds.

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
1.88	3.85	2.57	4.20	0.63

Start saving today

Access enrollment materials and open an account with The Education Plan's College Savings Program in just a few easy steps.

Enroll Now

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.

Research other state plans
or
Compare between state plans

Program type:

Savings

Telephone:

1-877-337-5268

Web site:

Click here to visit

How to enroll:

Enroll directly with the program.

Initial year of operation:

2000

State agency(ies):

Education Trust Board of New Mexico

Program manager:

OFI Private Investments, Inc., a subsidiary of OppenheimerFunds, Inc.

Program distributor:

OppenheimerFunds Distributor, Inc.

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, emancipated minors, 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 New Mexico's 529 plans for the same beneficiary reach $294,000.

Minimum contributions:

With lump-sum contributions, the minimum initial contribution is $250, and the minimum subsequent contribution is $25. With the automatic investment plan, the minimum contribution level is $25 per month or $75 per quarter.

Investment Options

Age-based investment options:

Choose between 2 age-based approaches, one containing 6 portfolios of underlying mutual funds invested in a blend of actively-managed and index funds and the other containing 6 portfolios of underlying index funds. Contributions in the age-based approaches 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 among 6 multi-fund portfolios invested in a blend of actively-managed and index funds, 6 multi-fund portfolios invested only in index funds, and 1 individual-fund portfolio (the Short Term Yield Portfolio).

Underlying investments:

Investments managed by OppenheimerFunds Inc. and its affiliates along with Vanguard and Dreyfus.

Underlying fund allocations:

Premium subscription required for this data.

Investment performance link:

Premium subscription required for this data.

Portfolio Fees & Performance Lookup

Premium subscription required for this data.

Fees & Expenses

Enrollment or application fee:

None.

Account maintenance fee:

$25 annually for accounts with less than $10,000, waived if either the designated beneficiary or account owner is a New Mexico resident, for accounts in an automatic contribution plan, and for accounts with all assets invested in index options.

Program management fees:

0.15% management fee (includes 0.05% fee to the state) for index-only options; 0.20% management fee (includes 0.10% fee to the state) for all other options.

Expenses of the underlying investments:

Ranges from 0.14% to 0.23% (portfolio weighted average) for index-only options, and from 0.17% to 0.57% (portfolio weighted average) for all other options.