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The Goldman Sachs 529 Plan

3.5 / 5

Our rating

Good AZ resident benefits

AZ resident benefits

Arizona's Goldman Sachs 529 Plan is an advisor-sold 529 savings program that features eleven year of enrollment funds, five target-risk funds and 15 individual-fund portfolios invested in Goldman Sachs mutual funds. To find a financial advisor in your area, use the Directory of Financial Professionals.

The Goldman Sachs 529 Plan

KEY METRICS

OVERVIEW

Program type

Savings

Inception

June 2022

State agency

Arizona State Treasurer

Tax deduction

For single filers: $2,000/yr per beneficiary

For joint filers: $4,000/yr per beneficiary

Program manager

Ascensus College Savings Recordkeeping Services, LLC

Program distributor

Goldman Sachs & Co.

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 of legal age, state/local government agencies, and 501(c)(3) organizations.

Significant time or age restrictions imposed by the program:

None

Contributions

Maximum contributions:

$590,000

Minimum contributions:

The minimum initial contribution to an account is $250 per account, and subsequent contributions have a $25 minimum.

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

Yes, Gift givers can either contribute online through a one-time or recurring EFT or by mailing in a gift contribution coupon with a check made payable to Ugift.

Investment Options

Investors in The Goldman Sachs 529 Plan can select from the following investment options. Click on a portfolio name for more information.

Eleven Year of Enrollment portfolios are designed to correspond with the expected year of college enrollment.
PortfolioE.R. % Equity1yr performance
GS 529 Currently Enrolled Portfolio0.64%17.2%4.87%
GS 529 2025-2026 Portfolio0.63%22.49%5.15%
GS 529 2027-2028 Portfolio0.62%30.44%5.3%
GS 529 2029-2030 Portfolio0.61%38.32%5.39%
GS 529 2031-2032 Portfolio0.61%47.18%5.53%
GS 529 2033-2034 Portfolio0.6%56.54%5.63%
GS 529 2035-2036 Portfolio0.59%66.4%5.7%
GS 529 2037-2038 Portfolio0.56%79.4%5.97%
GS 529 2039-2040 Portfolio0.56%94.5%6.11%
GS 529 2041-2042 Portfolio0.81%94.5%5.74%
GS 529 2043-2044 Portfolio0.78%94.5%N/A

Age-based/Enrollment Year investment options:

Eleven Year of Enrollment portfolios are designed to correspond with the expected year of college enrollment.

Static investment options:

Select among 5 Target Risk portfolios and 15 individual-fund portfolios, each investing in stock funds, bond funds, or a stable value fund.

Underlying investments:

Goldman Sachs, Schwab

Fees & Expenses

Enrollment or application fee:

None, but contributions may be subject to a sales charge.

Account maintenance fee:

An annual account fee of $20 per account is automatically deducted from an account each year in December.

Program management fees:

0.25% (includes 0.05% state administrative fee), plus distribution/servicing fee of 0.25% (class A), 1.00% (class C). There is no distribution fee for (class I)

Expenses of the underlying investments:

Ranges from 0.23% to 0.27% in the age-based and static multi-fund portfolios, and 0.02% to 0.89% in the individual-fund portfolios

Total asset-based expense ratio:

Class A: 0.45% - 1.44% Class C: 0.45% - 2.19% Class I: 0.32% - 1.19%

Broker loads and commissions:

Breakpoint pricing:

Does breakpoint pricing include non-529 assets under rights of accumulation policies

Taxes and other Benefits

Tax deduction for single filers:

$2,000/yr per beneficiary

Tax deduction for joint filers:

$4,000/yr per beneficiary

Program match on contributions:

None

State tax deduction or credit for contributions:

Contributions to Arizona AND non-Arizona 529 plans of up to $2,000 per year per beneficiary by an individual, and up to $4,000 per year per beneficiary by a married couple filing jointly, are deductible in computing Arizona taxable income. The original sunset date of December 31, 2012 has been removed, thus making the deduction permanent.

Calculate your Arizona 529 tax benefit

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

Your tax savings per year
$0

Household income

$100,000

Monthly Contribution

$100

State tax recapture provisions:

The principal portion of nonqualified withdrawals from this plan are included in Arizona taxable income to the extent of prior Arizona tax deductions. Nonqualified withdrawals for this purpose do not include withdrawals made as the result of the beneficiary's death or disability, withdrawals made on account of the beneficiary's receipt of a scholarship, or rollovers.

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:

Qualified distributions from Arizona and non-Arizona 529 plans are exempt.

State tax treatment of rollovers:

Arizona follows federal tax-free treatment.

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

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

The Upromise Rewards program can be linked to any 529 college savings plan. Upromise Rewards is free to join at upromise.com 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?

Yes

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

Contact

Website:

https://www.gsam.com/content/gsam/us/en/advisors/resources/investment-ideas/goldman-sachs-529-plan.html

Telephone:

1-888-462-6209

Telephone for broker use:

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