Checklist for the Edvest 529

The Savingforcollege.com 529 Selection Checklist is a simple tool designed to assist you in your research and selection of a 529 college savings plan. Before investing in a 529 plan, be sure to read the official program offering materials.

Steps:

1. Use a separate checklist for each 529 plan you are considering.
2. Use the "Notes" line to add any notes or thoughts you feel are relevant to that particular question. Information about the 529 plan being evaluated can be gathered from its official program disclosures, the plan web site, and third-party sources like Savingforcollege.com.
3. Use the "Acceptable, Unacceptable, or Not Important" checkboxes to indicate your conclusions as to how well the 529 plan you are evaluating meets the various criteria. Some criteria will not make any difference in your selection of your plan and should be noted as Not Important. In lieu of simply indicating acceptable or unacceptable you may want to develop a rating scale, e.g. 1 through 5.
4. Compare the checklists for the various 529 plans being considered and use the results to help you select the appropriate 529 plan.

Enrollment Issues:

Who is eligible to use this particular 529 plan?

U.S. citizens and resident aliens of legal age, UGMA/UTMA custodians, and legal entities.

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Notes: _______________________________________________________________________

How do I enroll: through a financial advisor (generally higher expense) or directly with the program (generally lower expenses)?

Enroll directly with the program.

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Notes: _______________________________________________________________________

What, if any, age or time limits are imposed by this 529 plan that may restrict how long I can hold the plan?

None

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Notes: _______________________________________________________________________

Can I complete the enrollment process for this 529 plan online (including funding the account)?

Yes

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Can I meet the plan's minimum contribution requirements either with a lump-sum contribution or by signing up for automatic contributions?

The minimum initial and subsequent contribution to an account is $25. There is no minimum if you contribute by payroll direct deposit.

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Notes: _______________________________________________________________________

Is the plan's maximum contribution limit high enough to accommodate my college funding desires?

Accepts contributions until all account balances in Wisconsin's 529 plans for the same beneficiary reach $545,500.

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Notes: _______________________________________________________________________

Will this 529 plan allow my other relatives and friends to make contributions directly to my account?

Yes

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Notes: _______________________________________________________________________

Program benefits:

If I live in the state offering this 529 plan, what are the state income tax deductions or credits I can claim for my contributions to it? (Note: If you live in Arizona, Kansas, Missouri, Maine, and Pennsylvania you do not have to use the in-state 529 plan to claim a deduction).

Contributions to a Wisconsin 529 plan of up to $3,860 per beneficiary per year (any filing status) are deductible in computing Wisconsin taxable income. The maximum annual deductible will be increased annually to reflect inflation. Contributions in excess of the maximum annual limit may be carried forward to one or more future years and deducted up to the then annual maximum deductible amount each year until all amounts invested have been deducted from Wisconsin taxable income. Incoming rollovers from other states' 529 plans are accepted. Beginning with the 2015 tax year, the portion that is principal or contributions may qualify for reducing Wisconsin taxable income, including carry-forward for subsequent years; the portion attributed to growth is not eligible. Amounts that received an earlier Wisconsin reduction are not eligible. Contributors do not need to be the account owner to claim the deduction. Any Wisconsin taxpayer may claim a deduction for contributions to any account. Contribution deadline is April 15 of the year following the tax year. Parents no longer need to claim their child as a dependent in order to claim the deduction; however, the maximum deduction is reduced to $1,930 for a parent who is married and filing separately or who is divorced, unless the divorce judgment specified a different division of the $3,860 combined maximum.

Effective January 1, 2018, employers may receive a tax credit equal to 25% of the total contributions that the employer makes to a Wisconsin Trust account for its employee up to a maximum amount across all accounts that is equal to 25% of the maximum contribution amount that an individual contributor may deduct per tax year. (25% credit for 25% of maximum contribution allowed employee).

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Notes: _______________________________________________________________________

If I live in the state offering this 529 plan, what matching contributions might I be eligible for?

None.

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Notes: _______________________________________________________________________

If the state offering this 529 plan administers its own student financial aid programs, will my account in this plan be excluded for purposes of determining eligibility?

Yes

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Notes: _______________________________________________________________________

If I prefer an investment that automatically changes to a more conservative asset mix as my child approaches college age, what "age-based" options are offered in this 529 plan?

The Enrollment Year Investment Portfolios contain 10 portfolios that invest in multiple mutual funds and a funding agreement based on a target enrollment year. 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. The risk level for the selected portfolio becomes increasingly conservative over time as the beneficiary approaches expected enrollment.

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Notes: _______________________________________________________________________

If I prefer one or more investments that do not adjust over time, what "static" options are offered in this 529 plan?

Select among 3 index-based multi-fund portfolios (Aggressive, Moderate, Conservative), 3 active-based multi-fund portfolios (Aggressive, Moderate, Conservative), two additional multi-fund portfolios, 5 individual-fund portfolios, a bank CD Portfolio and a principal plus interest portfolio that guarantees an annual interest rate of 1% - 3%.

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Notes: _______________________________________________________________________

Which mutual fund families, or other investment managers, are utilized in this 529 plan? Do the investment options consist of a single fund family or a mix of fund families?

Mutual funds managed by TIAA-CREF, DFA, MetWest, and T. Rowe Price

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Notes: _______________________________________________________________________

Does my preferred investment option in this program include foreign stocks, real estate, inflation-adjusted securities, or other sectors that I feel are desirable?

Mutual funds managed by TIAA-CREF, DFA, MetWest, and T. Rowe Price

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Notes: _______________________________________________________________________

Which type of mutual funds does my preferred investment option use: actively managed funds or passively managed index funds?

Both passive index and actively managed funds.

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Notes: _______________________________________________________________________

What is my assessment of the quality of the particular investment options in this 529 plan?

Both passive index and actively managed funds.

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Notes: _______________________________________________________________________

How acceptable is the range of investment options in this 529 plan in the event I wish to change investment options in the future?

Both passive index and actively managed funds.

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Notes: _______________________________________________________________________

Fees and expenses:

How much is the enrollment fee in this 529 plan? Do I qualify for a waiver?

None.

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Notes: _______________________________________________________________________

How much is the account maintenance fee in this 529 plan? Do I qualify for a waiver?

None.

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Notes: _______________________________________________________________________

What is the total asset-based expense ratio (or range of ratios) for the investment options in this plan?

0.10% - 0.33%; none for Principal Plus Interest Portfolio

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Notes: _______________________________________________________________________

How do the fees and expenses of this program compare to other 529 plans that offer investment options very similar to my preferred investment option in this program?

The underlying investments are not substantially similar to those in any other direct-sold 529 plans.

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Notes: _______________________________________________________________________

Other issues:

What are the special creditor protections for this 529 plan under the laws of the sponsoring state?

Under Wisconsin law, accounts are not subject to levy, lien, garnishment, attachment, execution, or other process of law.

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Notes: _______________________________________________________________________

Is this 529 plan linked into my favorite rewards service (e.g. Fidelity 529 College Rewards Card, Futuretrust, Upromise)?

Yes, the Upromise Rewards program can be linked to any 529 college savings plan. Upromise Rewards is free to join and offers members cash back for college.

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Notes: _______________________________________________________________________

Will I have online access to my account for looking up my account values, etc?

Yes

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Notes: _______________________________________________________________________

Who can I name as "payee" on distributions from this 529 plan? How easy is the process of requesting distributions?

Account owner, beneficiary, eligible educational institution, or other third party, as directed by account owner.

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Notes: _______________________________________________________________________

Will this 529 plan accept my request to transfer the account owenership to someone else?

Accepts requests to transfer account ownership.

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Notes: _______________________________________________________________________

How thorough and understandable are the program's official disclosure materials, and how much help is available through the programs web site, call center, etc.?

Accepts requests to transfer account ownership.

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Notes: _______________________________________________________________________

Are there any other considerations unique to this program that can be considered advantages or disadvantages?

Accepts requests to transfer account ownership.

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Notes: _______________________________________________________________________

Before investing, be sure to read and understand the official program materials provided on the 529 plan's website.

Click here to visit

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Notes: _______________________________________________________________________