General InformationDownload PDF Report
John Hancock Freedom 529
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. To find a financial advisor in your area, use the Directory of Financial Professionals.
- Program typeSavings
- State agencyEducation Trust of Alaska
- Tax deductionTax deduction for single filers NoneTax deduction for joint filers None
- Program ManagerT. Rowe Price Associates, Inc.
- Program distributorJohn Hancock Distributors LLC
- Manager contract termUNLOCK PRO
Ratings & Rankings
Our overall rating for non-residents
This is an excellent program with many benefits for the participant and positive investment attributes. If it has any significant weaknesses then it also has some particularly good things to recommend it.
Each plan's performance score is developed directly from Savingforcollege.com's Quarterly 529 Performance Rankings. A 529 savings plan must have at least one year of performance history before they will be assigned a 5-cap rating. For those plans that are not part of our quarterly performance rankings, such as plans offering a single set of bank-based investment options, we assign a performance score by evaluating the returns currently available on similar types of investments outside of 529 plans.
State residency requirements:None
Who can be a participant/owner in the program?U.S. resident individuals of legal age, UGMA/UTMA custodians, and legal entities organized in the U.S.
Significant time or age restrictions imposed by the program:None
Maximum contributions:Accepts contributions until all account balances in Alaska's 529 plans for the same beneficiary reach $475,000.
Minimum contributions:With lump-sum contributions, the minimum initial contribution is $250 per portfolio, and the minimum subsequent contribution is $50 per portfolio. With the automatic investment plan, the minimum contribution level is $50 per month.
Age-based investment options:The Enrollment-Based Portfolios contain 6 multi-managed portfolios of underlying mutual funds, ranging from 100% equity to 20% equity. 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. 5 portfolios shift to a more conservative investment allocation over time, eventually transferring to the College portfolio.View more age-based investment options
Static investment options:Select among 3 multi-fund portfolios (Future Trends Portfolio, Equity Portfolio, and Fixed Income Portfolio), a money market portfolio, a short-term bond portfolio, 3 lifestyle portfolios (the Multimanager Lifestyle Growth 529, Multimanager Lifestyle Balanced 529 and Multimanager Lifestyle Moderate 529 Portfolios) and 8 individual-fund portfolios. A dollar-cost averaging option provides for automatic monthly reallocations.View more static investment options
Underlying investments:John Hancock, T. Rowe Price, American Funds,Oppenheimer, Allianz Global Investors, Baillie Gifford, Barrow Hanley Mewhinney & Strauss, Boston Partners, Brandywine Global, Declaration, Deutsche Asset and Wealth Management, Dimensional, EPOCH, First Quadrant, Franklin Templeton, GMO, GW&K, Invesco, Jennison Associates, PIMCO, Standard Life Investments, Stone Harbor Investment Partners, Wellington Management, Wells Capital Management and Western Asset.View a full list of this plan's investment options
Underlying fund allocations:UNLOCK PRO
Portfolio Fees & Performance LookupUNLOCK PRO
Fees & Expenses
Enrollment or application fee:None, but contributions may be subject to a sales charges depending on share class.
Account maintenance fee:$15 charged in November of each year. Waived for account balances of $25,000 or more, for account balances of $75,000 or more when combined with other beneficiary accounts, or for accounts in an automatic contribution plan, or for Account Holders who elect to receive electronic statements and confirmations, or for Account Holders who invest through a financial intermediary that maintains the plan assets in an omnibus account.
Program management fees:All portfolios except Short-Term Bond Portfolio, Fixed Income Portfolio and JH Money Market Portfolio:
0.30% (includes state fee of 0.05%) plus distribution fees of 0.25% (Class A) or 1.00% (Class C2).
Short-Term Bond Portfolio, Fixed Income Portfolio:
0.30% (includes state fee of 0.05%) plus distribution fees of 0.15% (Class A) or 0.90% (Class C2)
Money Market Portfolio:
0.30% (no state fee)
Expenses of the underlying investments:Ranges from 0.57% to 0.96% (portfolio weighted average) in the age-based and static multi-fund portfolios, 0.66% to 0.90% in the individual-fund portfolios, and 0.40% in the money market portfolio.
Total asset-based expense ratio:Class A: 0.92% - 1.51%
Class C2: 1.67% - 2.26%
Class F: 0.77% - 1.26%
Money Market: 0.65%
Broker loads and commissions:UNLOCK PRO
Breakpoint pricing:UNLOCK PRO
Taxes and other Benefits
- Tax deduction for single filersNone
- Tax deduction for joint filersNone
Alaska doesn't offer tax deductions