Alaska 529 College Savings Plans
Alaska has three 529 college savings plans to offer; two direct-sold 529 plans and an advisor-sold program. Each direct-sold Alaska 529 plan is managed by T. Rowe Price: The T. Rowe Price College Savings Plan is a nationally-marketed 529 plan utilizing T. Rowe Price mutual funds. The University of Alaska College Savings Plan does not receive national attention, but it does offer equivalent investment options as well as a unique, cost-saving option called the ACT Portfolio that provides special benefits to future University of Alaska students. The advisor-sold John Hancock Freedom 529 program utilizes a multi-manager approach in its investment portfolios.
The links below provide more information on each Alaska 529 plan.
- Tax deduction for single filersNone
- Tax deduction for joint filersNone
The University of Alaska College Savings Plan is a direct-sold 529 savings plan. The Program features both enrollment-based and static portfolios, along with an additional portfolio called the ACT Portfolio providing special benefits to future University of Alaska students along with a very low expense ratio. Alaska residency is not required to participate in this T. Rowe Price-managed program....
T. Rowe Price College Savings Plan, the nationally-branded version of Alaska's direct-sold 529 savings program mirrors the University of Alaska College Savings Plan but lacks the ACT Portfolio found in the UA program. The enrollment-based and static portfolios available in this program utilize T. Rowe Price mutual funds....
Advisor Sold Plans
T. Rowe Price and John Hancock have teamed up with Alaska to offer the John Hancock Freedom 529 advisor-sold 529 savings program. It features enrollment-based and static portfolios utilizing mutual funds from over 20 asset managers.
The Alaska ABLE Plan is offered through the National ABLE Alliance. The plan is established under the Alaska ABLE Savings Program Act and Section 529A to provide financial accounts for individuals with disabilities. The Alaska ABLE Plan is created within the Alaska Department of Revenue, which is the state agency responsible for implementing and administering the Alaska ABLE Plan....