2009-2010 EDITION

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529 PLANS

EdVest (Direct-sold)

Wisconsin

Wells Fargo is manager of this 529 savings program, featuring a money market option, age-based and static portfolio options utilizing Wells Fargo Advantage Funds, and CD options invested in certificates of deposit issued by Wisconsin-based banks and credit unions.

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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):

Wisconsin Office of the State Treasurer

Program manager:

Wells Fargo Funds Management, LLC

Program distributor:

Wells Fargo Funds Distributor, LLC

Manager contract term:

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Eligibility

State residency requirements:

None

Who can be a participant/owner in the program?

U.S. citizens and resident aliens of legal age, UGMA/UTMA custodians, and legal entities

Significant time or age restrictions imposed by the program:

None

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Contributions

Maximum contributions:

Accepts contributions until all account balances in Wisconsin's 529 plans for the same beneficiary reach $330,000.

Minimum contributions:

$250, or $15 per month with the automatic contribution plan

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Investment Options

Age-based investment options:

The Enrollment-Based Option is offered in three different risk levels (Aggressive Growth, Moderate Growth, and Conservative Growth), each containing four or five portfolios of underlying mutual funds. Contributions are placed into the portfolio corresponding to the number of years to expected enrollment, and later reassigned to more conservative portfolios as the beneficiary approaches college enrollment.

Static investment options:

Select among five multi-fund portfolios (Aggressive, Moderate, Balanced, Bond, and Conservative), five individual-fund portfolios, and two CD Portfolios.

Underlying investments:

Mutual funds managed by Wells Fargo Funds Management LLC, Legg Mason Capital Management Inc, Robert W. Baird & Co. Inc, and The Vanguard Group.

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:

$20 annually on accounts with less than $25,000, waived for Wisconsin residents and for automatic deposits

Program management fees:

0.20% manager fee for the Wells Fargo age-based and static portfolios, and 0.30% manager fee for the non-Wells Fargo portfolios. These figures do not include the state administrative fee (0.10% or 0.05% depending on option) which is currently being waived. The manager fee is to be reduced in 0.02% increments as plan assets reach specified breakpoints.

Expenses of the underlying investments:

Approximate range is 0.46% to 0.84% (portfolio weighted average) in the Wells Fargo age-based and static multi-fund portfolios, 0.05% to 0.79% in the individual-fund portfolios, and 0.20% in the money market portfolio. The CD options have no underlying expense beyond the management and state administration fee.

Total asset-based expense ratio:

0.30% - 1.09%

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Taxes and other Benefits

Program match on contributions:

None

State tax deduction or credit for contributions:

Contributions to any of Wisconsin's 529 plans of up to $3,000 per beneficiary per tax return are deductible in computing Wisconsin taxable income. Only contributions to an account naming the contributor or the contributor's child, grandchild, great-grandchild, nephew, or niece as beneficiary are eligible for the deduction. Contribution deadline is December 31. Beginning in 2010, parents no longer need to claim their child as a dependent in order to claim the deduction; however, the maximum deduction is reduced to $1,500 for a parent who is married and filing separately or who is divorced, unless the divorce judgment specified a different division of the $3,000 combined maximum.

Value of in-state tax benefits:

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State tax recapture provisions:

None

State tax treatment of qualified distributions:

Wisconsin law exempts qualified distributions from a Wisconsin 529 plan (via specific exclusion) and from non-Wisconsin 529 plans (via conformity to the federal tax exclusion).

State tax treatment of rollovers:

Wisconsin follows federal tax-free treatment.

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?

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

Yes, eligible for earning "Tuition Rewards" - guaranteed tuition discounts at over 200 colleges participating in the privately-run SAGE Scholars program