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CollegeCounts 529 Fund Advisor Plan

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AL resident benefits

The manager for Alabama CollegeCounts 529 Fund Advisor Plan changed from Van Kampen to Union Bank and Trust Company in August 2010. It features age-based, static and individual fund portfolio options using mutual funds from multiple fund firms. To find a financial advisor in your area, use the Directory of Financial Professionals.

CollegeCounts 529 Fund Advisor PlanHigh Honors

KEY METRICS

OVERVIEW

Program type

Savings

Inception

2002, but substantially changed in August 2010.

State agency

Board of Trustees of College Counts 529 Fund, chaired by the State Treasurer

Tax deduction

For single filers: $5,000/yr per beneficiary

For joint filers: $10,000/yr per beneficiary

Program manager

UBT 529 Services, a division of Union Bank & Trust Company

Program distributor

Northern Trust Securities, Inc.

Manager contract term

MORE INFORMATION

Eligibility

State residency requirements:

None

Who can be a participant/owner in the program?

U.S. citizens and resident aliens at least 19 years old, 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 Alabama 529 plans for the same beneficiary reach $475,000.

Minimum contributions:

No minimum.

Does the program offer an e-gifting platform for receiving gift contributions?

This plan offers an online tool to share a gift contribution link with family and friends.

Investment Options

Investors in CollegeCounts 529 Fund Advisor Plan can select from the following investment options. Click on a portfolio name for more information.

The Age-Based Portfolios option is offered in 3 different risk levels (Aggressive, Moderate, and Conservative) each containing 9 portfolios of underlying mutual funds. Contributions are placed into the portfolio corresponding to the risk level selected and based on the age of the beneficiary, and later reassigned to more conservative portfolios as the beneficiary approaches college age.
PortfolioE.R. % Equity1yr performance
Age-Based Conservative: Ages 0-20.93%78%5.32%
Age-Based Conservative: Ages 3-50.94%68%5.32%
Age-Based Conservative: Ages 6-80.94%58.5%5.3%
Age-Based Conservative: Ages 9-100.95%48.5%5.36%
Age-Based Conservative: Ages 11-120.95%39%5.37%
Age-Based Conservative: Ages 13-140.95%29%5.3%
Age-Based Conservative: Ages 15-160.92%19%5.33%
Age-Based Conservative: Ages 17-180.88%10%5.22%
Age-Based Conservative: Ages 19+0.8%0%4.97%
Age-Based Moderate: Ages 0-20.93%87.5%5.41%
Age-Based Moderate: Ages 3-50.93%78%5.32%
Age-Based Moderate: Ages 6-80.94%68%5.32%
Age-Based Moderate: Ages 9-100.94%58.5%5.3%
Age-Based Moderate: Ages 11-120.95%48.5%5.36%
Age-Based Moderate: Ages 13-140.95%39%5.37%
Age-Based Moderate: Ages 15-160.95%29%5.3%
Age-Based Moderate: Ages 17-180.92%19%5.33%
Age-Based Moderate: Ages 19+0.88%10%5.22%
Age-Based Aggressive: Ages 0-20.93%97%5.37%
Age-Based Aggressive: Ages 3-50.93%87.5%5.41%
Age-Based Aggressive: Ages 6-80.93%78%5.32%
Age-Based Aggressive: Ages 9-100.94%68%5.32%
Age-Based Aggressive: Ages 11-120.94%58.5%5.3%
Age-Based Aggressive: Ages 13-140.95%48.5%5.36%
Age-Based Aggressive: Ages 15-160.95%39%5.37%
Age-Based Aggressive: Ages 17-180.95%29%5.3%
Age-Based Aggressive: Ages 19+0.92%19%5.33%

Age-based/Enrollment Year investment options:

The Age-Based Portfolios option is offered in 3 different risk levels (Aggressive, Moderate, and Conservative) each containing 9 portfolios of underlying mutual funds. Contributions are placed into the portfolio corresponding to the risk level selected and based on the age of the beneficiary, and later reassigned to more conservative portfolios as the beneficiary approaches college age.

Static investment options:

Select among 6 multi-fund Target portfolios and 24 Individual-fund portfolios.

Underlying investments:

T. Rowe Price, DFA, Northern Funds, PGIM Investments, Fidelity, American Century, Vanguard, Neuberger Berman, Templeton, Touchstone, Principal, Credit Suisse, PIMCO, AllianceBernstein, BlackRock, and State Street.

Underlying fund allocations:

Portfolio Fees & Performance Lookup

Fees & Expenses

Enrollment or application fee:

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

Account maintenance fee:

$12 annually, waived if either the account owner or designated beneficiary is an Alabama resident.

Program management fees:

0.21% (includes 0.07% state administrative fee), plus distribution/servicing fee of 0.25% (Class A), 0.50% (Class C), 0.00% (Class F). The State Street U.S. Government Money Market option and the Bank Savings 529 Portoflio have no state administrative or distribution/servicing fee.

Expenses of the underlying investments:

Ranges from 0.27% to 0.42% (portfolio weighted average) in the age-based and static multi-fund portfolios, and 0.05% to 0.88% in the individual-fund portfolios, none for the Bank Savings 529 Portfolio.

Total asset-based expense ratio:

Class A: 0.21% - 1.41%
Class C: 0.21% - 1.66%
Class F: 0.21% - 1.16%

Broker loads and commissions:

Breakpoint pricing:

Taxes and other Benefits

Tax deduction for single filers:

$5,000/yr per beneficiary

Tax deduction for joint filers:

$10,000/yr per beneficiary

Program match on contributions:

None.

State tax deduction or credit for contributions:

Contributions, including rollover contributions, to an Alabama 529 plan of up to $5,000 per year by an individual, and up to $10,000 per year by married taxpayers filing jointly who each make their own contributions, are deductible in computing Alabama taxable income.

Calculate your Alabama 529 tax benefit

Find out how much you can save on state taxes this year by contributing to a Alabama 529 plan.

Your tax savings per year
$0

Household income

$100,000

Monthly Contribution

$100

State tax recapture provisions:

If the Designated Beneficiary stays the same, the transfer will be treated as an income tax-free Qualified Rollover Distribution as long as the transfer does not occur within 12 months from the date of a previous rollover to another 529 qualified tuition program for the Designated Beneficiary.

State definition of qualified expenses

The state conforms with the federal definition of qualified education expenses, which includes expenses for higher education, apprenticeship programs, interest and/or principal on qualified education loans up to a $10,000 lifetime cap, and up to $10,000 per year in tuition in connection with enrollment or attendance at an elementary or secondary public, private, or religious school. Distributions from a 529 account directly to a Roth IRA are considered a qualified expense for state income tax purposes.

State tax treatment of qualified distributions:

Alabama law exempts qualified distributions from an Alabama 529 plan but does not exempt distributions from a non-Alabama 529 plan.

State tax treatment of rollovers:

Inbound rollovers are not subject to Alabama tax. The full amount rolled over can be deducted subject to the $5,000 or $10,000 annual maximum. Outbound rollovers are treated as nonqualified withdrawals.

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

Is there a rewards program or outside scholarship program that works with this program?

Yes, CollegeCounts 529 Rewards Visa Card, you can earn 1.529% on your everyday purchases.

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.

Statutory protection of an account from creditors:

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?

No

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

Contact

Website:

http://www.collegecounts529advisor.com/

Telephone:

1-866-529-2228

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