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T. Rowe Price College Savings Plan
Alaska
This nationally-branded version of Alaska's direct-sold 529 savings program mirrors the University of Alaska College Savings Plan but lacks the ACT Portfolio found in the UA program. The enrollment-based and static portfolios available in this program utilize T. Rowe Price mutual funds.
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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.
Program type:
Savings
How to enroll:
Enroll directly with the program.
Initial year of operation:
2001
State agency(ies):
Education Trust of Alaska
Program manager:
T. Rowe Price Associates, Inc.
Program distributor:
T. Rowe Price Investment Services, 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 of legal age residing in the U.S., UGMA/UTMA custodians, and legal entities organized in the U.S.
Significant time or age restrictions imposed by the program:
None
Contributions
Maximum contributions:
Accepts contributions until all account balances in Alaska's 529 plans for the same beneficiary reach $320,000.
Minimum contributions:
With lump-sum contributions, the minimum initial contribution is $250, and the minimum subsequent contribution is $50. With the automatic investment plan, the minimum contribution level is $50 per portfolio per month.
Investment Options
Age-based investment options:
The Enrollment-Based Portfolios contain eight portfolios of underlying mutual funds, ranging from 100% equity to 20% equity. Contributions are placed into the portfolio corresponding to the number of years to expected enrollment based on the age of the beneficiary or as selected by the account owner. Seven portfolios shift to a more conservative investment allocation over time, eventually transferring to the College portfolio.
Static investment options:
Select among three multi-fund portfolios (Equity Portfolio, Fixed-Income Portfolio, and Balanced Portfolio), an individual-fund portfolio (Total Equity Market Index Portfolio), and the Money Market Portfolio.
Underlying investments:
T. Rowe Price mutual funds
Underlying fund allocations:
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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:
$25 annually for accounts with less than $25,000 (fee is prorated across all accounts for the same account owner and beneficiary if the total balance of all accounts is less than $25,000); the fee is waived with automatic bank account investments or payroll deductions or if the total balance of all accounts owned by the same account owner, regardless of the beneficiary, is at least $75,000.
Program management fees:
0.28% manager fee, including 0.04% fee to the state
Expenses of the underlying investments:
Approximate range is 0.55% to 0.71% in the age-based portfolios and 0.40% to 0.72% in the static portfolios (portfolio weighted averages).
Total asset-based expense ratio:
0.68% - 1.00%
Taxes and other Benefits
Program match on contributions:
None
State tax deduction or credit for contributions:
Not applicable. Alaska does not have a personal income tax.
State tax treatment of qualified distributions:
Not applicable. Alaska does not have a personal income tax.
Does the sponsoring state exclude the value of an account for state financial aid purposes?
No
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:
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Distributions & Terminations
To whom are distributions made payable:
Beneficiary and an eligible educational institution jointly, beneficiary, estate of the 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.
Contact
Telephone:
1-800-369-3641
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