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529 PLANS

College Savings Plan of Nebraska (Direct-sold)

Nebraska

Union Bank & Trust Company as manager of this 529 savings program has assembled a large assortment of age-based and static portfolio options utilizing mutual funds from a number of different fund companies.

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Obtain this plan's official enrollment materials by completing our form. It's free and we will forward your details to the program manager. Enroll Today!

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:

2001

State agency(ies):

Nebraska State Treasurer

Program manager:

Union Bank and Trust Company of Lincoln, Nebraska

Program distributor:

Union Bank & Trust Company

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:

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Contributions

Maximum contributions:

Accepts contributions until all account balances in Nebraska's 529 plans for the same beneficiary reach $360,000.

Minimum contributions:

No minimum

Investment Options

Age-based investment options:

The Age-Based Portfolios option offers a choice among four different risk levels (Aggressive, Growth, Balanced, and Conservative) each containing five portfolios of underlying mutual funds. Contributions are placed into the portfolio corresponding to the selected risk level and beneficiary’s age, and later reassigned to more conservative portfolios as the beneficiary approaches college age.

Static investment options:

Select among six multi-fund Target portfolios with varying risk tolerances and 20 individual-fund portfolios.

Underlying investments:

Vanguard, American Century, Fidelity, State Street, Goldman Sachs, and PIMCO 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

Account maintenance fee:

$5 quarterly. There is a one-time fee credit of $10 on accounts enrolled in an automatic investment plan of $25 or more per month.

Program management fees:

0.60% manager fee

Expenses of the underlying investments:

Approximate range is 0.08% to 0.40% (portfolio weighted average) in the age-based and static multi-fund portfolios, and 0.05% to 1.04% in the individual-fund portfolios.

Total asset-based expense ratio:

0.65% - 1.64%

Taxes and other Benefits

Program match on contributions:

Nebraska and non-Nebraska plan beneficiaries attending a Nebraska higher education institution are eligible to receive additional contributions from a privately-funded endowment fund

State tax deduction or credit for contributions:

Contributions to any of Nebraska's 529 plans of up to $5,000 per year for single taxpayers and married taxpayers filing jointly, and $2,500 per year for married taxpayers filing separately, are deductible in computing Nebraska taxable income. Only contributions made by the account owner are deductible. Contribution deadline is December 31 postmark.

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 Nebraska taxable income to the extent of prior Nebraska tax deductions.

State tax treatment of qualified distributions:

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

State tax treatment of rollovers:

Nebraska follows federal tax-free treatment except that outbound rollovers are subject to the recapture of prior state tax deductions.

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:

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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?

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:

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Contact

Telephone:

1-888-993-3746

Web site:

Click here to visit

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