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Texas College Savings Plan
Texas
The Texas College Savings plan, managed by an OppenheimerFunds affiliate, offers two age-based investment options and eight static options using underlying investments managed by OppenheimerFunds, Dreyfus, Thornburg, TIAA-CREF, and Vanguard.
5-Cap Rating
| Resident: |  |
|---|---|
| Non-Resident: |
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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 |
|---|---|---|---|---|
| 2.50 | 3.69 | 3.40 | 3.60 | 0.00 |
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Access enrollment materials and open an account with Texas College Savings Plan in just a few easy steps.
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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.
Program type:
Savings
Telephone:
1-800-445-4723, option 3
Web site:
How to enroll:
Enroll directly with the program.
Initial year of operation:
2002, but substantially changed in November 2007
State agency(ies):
Texas Prepaid Higher Education Tuition Board
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?
Individuals, 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 Texas' 529 plans for the same beneficiary reach $370,000.
Minimum contributions:
$25 per portfolio, or $15 per portfolio with the automatic contribution plan.
Investment Options
Age-based investment options:
Select either the Blended Age-based Portfolios, which offers underlying investments that are both actively and passively managed, or the Index Age-Based Portfolios, which offers passively managed investments. Each option consists of 6 portfolios of underlying investments. Contributions are placed into the portfolio that corresponds to the age of the beneficiary. The portfolios automatically shift to a more conservative investment allocation over time.
Static investment options:
Select among 4 multi-fund portfolios (two of which use only index funds), 2 individual-fund bond portfolios, and the Money Market and U.S. Government Money Market Portfolios.
Underlying investments:
Mutual funds and investment strategies managed by OppenheimerFunds, The Dreyfus Corporation, TIAA-CREF, Thornburg Investments and Vanguard.
Underlying fund allocations:
Premium subscription required for this data.
Investment performance link:
Premium subscription required for this data.
Portfolio Fees & Performance Lookup
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Fees & Expenses
Enrollment or application fee:
None.
Account maintenance fee:
None.
Program management fees:
0.15% manager fee for the Index Portfolios and 0.25% manager fee (including 0.10% state administrative fee) for the Blended Portfolios and Individual Fund Portfolios.
Expenses of the underlying investments:
0.36% to 0.40% in the Index portfolios; 0.38% to 0.58% in the Blended Portfolios; and 0.17% to 0.45% in the Individual Fund Portfolios.
Total asset-based expense ratio:
0.42% - 0.83%
Taxes and other Benefits
Program match on contributions:
None.
State tax deduction or credit for contributions:
Not applicable. Texas does not have a personal income tax.
State tax treatment of qualified distributions:
Not applicable. Texas does not have a personal income tax.
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?
No
Does the program have a formal agreement with a rewards program or outside scholarship program?
No
Statutory protection of an account from creditors:
Premium subscription required for this data.
Distributions & Terminations
To whom are distributions made payable:
Eligible educational institution, beneficiary, or account owner, as directed by the account owner.
Account Changes
Policy regarding participant/owner changes:
Accepts requests to transfer account ownership.
Documents, Access & Reporting
Does participant have online password-protected access to account?
Yes
Can the complete enrollment process including funding be done online?
Yes
Documents and other services accessible or downloadable on the program's public Web site:
Premium subscription required for this data.
Plan News
- Texas College Savings Plan will add new money market portfolio (02/29/2012)
- Texas College Savings Plan adds new investment options (06/21/2010)
State News
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