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CollegeAmerica

Virginia

Virginia's CollegeAmerica is an advisor-sold 529 plan that makes available a line-up of 25 individual funds, 6 multi-fund portfolios, and seven target date fund portfolios from American Funds through Class 529-A, 529-C, 529-E and 529-F-1 shares. To find a financial advisor in your area, use the Find a 529 Pro Directory.

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
3.17	3.92	3.10	4.80	0.30

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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

Telephone:

1-800-421-4225

How to enroll:

Enroll through a financial advisor.

Initial year of operation:

2002

State agency(ies):

Virginia College Savings Plan

Program manager:

American Funds Service Company, American Funds Distributors, and Capital Research and Management Company

Program distributor:

American Funds Distributors

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, UGMA/UTMA custodians, and legal entities.

Significant time or age restrictions imposed by the program:

The account must be used within 30 years after the beneficiary graduates from high school or within 30 years after opening the account, whichever is later.

Contributions

Maximum contributions:

Accepts contributions until all account balances in Virginia's 529 plans for the same beneficiary reach $350,000.

Minimum contributions:

The minimum initial contribution is $250 per fund ($1,000 for American Funds Money Market Fund), and the minimum subsequent contribution is $50 per fund. For an employer-sponsored program, the minimum contributions are $25 per fund.

Investment Options

Age-based investment options:

The Target-Based Portfolios contain 7 portfolios of underlying mutual funds. 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. As each fund approaches its target date, it will increasingly emphasize income and preservation of capital by investing a greater portion of its assets in bond, equity-income and balanced funds, eventually investing principally in fixed-income funds and merging into the College Enrollment portfolio.

Static investment options:

Select among 25 individual mutual funds and 6 multi-fund portfolios from American Funds.

Underlying investments:

American Funds mutual funds.

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:

$10. Contributions may also be subject to a sales charge depending on share class.

Account maintenance fee:

$10 annually.

Program management fees:

None (0.10% state administrative fee is included in the underlying fund expenses).

Expenses of the underlying investments:

Ranges from 0.51% to 1.19% for Class 529-A, 0.51% to 2.00% for Class 529-C, 0.50% to 1.45% for Class 529-E, and 0.46% to 0.99% for Class 529-F-1.

Total asset-based expense ratio:

Class 529-A: 0.51% - 1.19%
Class 529-C: 0.51% - 2.00%
Class 529-E: 0.50% - 1.465%
Class 529-F-1: 0.46% - 0.99%

Broker loads and commissions:

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Breakpoint pricing:

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Does breakpoint pricing include non-529 assets under rights of accumulation policies

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Taxes and other Benefits

Program match on contributions:

None.

State tax deduction or credit for contributions:

Contributions to a Virginia 529 plan of up to $4,000 per account per year are deductible in computing Virginia taxable income, with an unlimited carryforward of excess contributions. Contributions are fully deductible in the year of contribution for taxpayers at least 70 years of age. Contributions from a non-owner are deductible by the account owner and not by the non-owner/contributor. Contribution deadline is receipt (not postmark date) by the last business day of the year based on agency calendar.

Value of in-state tax benefits:

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State tax recapture provisions:

The principal portion of rollovers and nonqualified withdrawals from this plan are included in Virginia taxable income to the extent of prior Virginia tax deductions. Nonqualified withdrawals for this purpose do not include withdrawals made as the result of the beneficiary's death or disability or withdrawals made on account of the beneficiary's receipt of a scholarship.