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MFS 529 Savings Plan

Oregon

Oregon's MFS 529 Savings Plan, an advisor-sold 529 savings program features age-based and static portfolio options utilizing MFS mutual funds. 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
3.76 3.28 3.40 4.40 0.35

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General

Program type:

Savings

How to enroll:

Enroll through a financial advisor. Find a Professional

Initial year of operation:

2002

State agency(ies):

Oregon 529 College Savings Board, chaired by State Treasurer

Program manager:

MFS Fund Distributors, Inc.

Program distributor:

MFS Fund Distributors, Inc.

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. An account owner must be a U.S. resident with a U.S. address.

Significant time or age restrictions imposed by the program:

None.

Contributions

Maximum contributions:

Accepts contributions until all account balances in the program for the same beneficiary reach $310,000.

Minimum contributions:

With lump-sum contributions, the minimum initial contribution is $250. There is no minimum for subsequent contributions or for contributions into the automatic contribution plan.

Investment Options

Age-based investment options:

The Age-Based Investment Option contains 5 portfolios of underlying mutual funds. Contributions 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 4 multi-fund options (Aggressive Growth, Growth, Moderate, and Conservative) and 14 individual-fund options.

Underlying investments:

MFS 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:

None, but contributions may be subject to a sales charge depending on share class.

Account maintenance fee:

$25 annually for accounts with less than $25,000, waived for Oregon residents.

Program management fees:

0.10% management fee (includes state portion with 0.05% waiver in effect), plus distribution/servicing fees of 0.25% (Class 529A) or 1.00% (Classes 529B and 529C). The management fee has been waived from 0.10% to 0.05% with waiver end dates ranging from December 2013 to August 2014, depending upon the portfolio.

Expenses of the underlying investments:

Ranges from 0.40% to 0.93% in the age-based and static multi-fund portfolios (portfolio weighted averages), and from 0.33% to 0.93% in the individual-fund portfolios. Additonal waivers are in effect with end dates ranging from December 2013 to August 2014 for the Mid Cap Growth Fund, Mid Cap Value Fund, New Discovery Fund, Limited Maturity Fund, Research Bond Fund, and Cash Reserve Fund.

Total asset-based expense ratio:

Class A: 0.73% - 1.44%
Class B: 1.56% - 2.19%
Class C: 1.57% - 2.19%

Broker loads and commissions:

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Breakpoint pricing:

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Taxes and other Benefits

Program match on contributions:

None.

State tax deduction or credit for contributions:

Contributions to an Oregon 529 plan of up to $2,225 (for 2013) by an individual, and up to $4,455 by a married couple filing jointly, are deductible in computing Oregon taxable income, with a four-year carryforward of excess contributions. The limits are to be adjusted each year for inflation. Contribution deadline is April 15 of the following year.

Value of in-state tax benefits:

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State tax recapture provisions:

The principal portion of nonqualified withdrawals from this plan are included in Oregon taxable income to the extent of prior Oregon tax deductions. Rollovers apparently are not subject to recapture.

State tax treatment of qualified distributions:

Qualified distributions from Oregon and non-Oregon 529 plans are exempt.

State tax treatment of rollovers:

Oregon follows federal tax-free treatment.

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:

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?

No

Can the complete enrollment process including funding be done online?

No

Documents and other services accessible or downloadable on the program's public Web site:

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Contact

Web site:

Click here to visit

Telephone:

1-866-637-7526

State News

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