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Brighter Future Advisor Plan

4 / 5

Our rating

Good AR resident benefits

AR resident benefits

Arkansas' Brighter Future Advisor Plan from BlackRock is comprised solely of iShares ETFs and offers 7 year-of-enrollment portfolios, 4 asset allocation options, and 17 individual portfolios. These 21 portfolios can be mixed and matched or used independently of one another to achieve the investment allocation desired. Accounts can be linked to the Upromise rewards service. To find a financial advisor in your area, use the Directory of Financial Professionals.

Brighter Future Advisor PlanHigh Honors

KEY METRICS

OVERVIEW

Program type

Savings

Inception

2007 (December)

State agency

The Arkansas 529 Plan Review Committee, composed of the Director of the Department of Higher Education, the Executive Director of the Arkansas Teacher Retirement System, and the Arkansas State Treasurer

Tax deduction

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

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

Program manager

Ascensus Broker Dealer Services, Inc.

Program distributor

Ascensus Broker Dealer Services, LLC

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 18 years old or older, UGMA/UTMA custodians, and legal entities.

Significant time or age restrictions imposed by the program:

None

Contributions

Maximum contributions:

Accepts contributions until all account balances in Arkansas' 529 plans for the same beneficiary reach $500,000.

Minimum contributions:

With lump-sum contributions, the minimum initial contribution is $500, and the minimum subsequent contribution is $50. With the automatic investment plan, the minimum contribution level is $50 per month or $150 per quarter via bank transfer or $25 per pay period via payroll deduction. The minimum contribution drops to $25 for gift contributions made through the Plan's Ugift feature.

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

This plan offers a robust gifting platform that allows gift-givers to save their own profile for recurring or future contributions.

Investment Options

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

The seven iShares Year-of-Enrollment Portfolios are based upon the designated beneficiary's anticipated year of enrollment, rather than the designated beneficiary's age. The asset allocation of the money invested in these investment options is automatically adjusted quarterly over time to become more conservative as the number of years to enrollment for the Designated Beneficiary decreases.
PortfolioE.R. % Equity1yr performance
iShares 2036 College Portfolio (ETF)0.45%74.37%6.28%
iShares 2039 College Portfolio (ETF)0.7%82.75%6.2%
iShares 2042 College Portfolio (ETF)0.7%89.65%N/A
iShares College Portfolio (ETF)0.53%10%4.9%
iShares 2027 College Portfolio (ETF)0.46%35.85%5.22%
iShares 2030 College Portfolio (ETF)0.46%55.83%5.65%
iShares 2033 College Portfolio (ETF)0.45%65.58%5.97%

Age-based/Enrollment Year investment options:

The seven iShares Year-of-Enrollment Portfolios are based upon the designated beneficiary's anticipated year of enrollment, rather than the designated beneficiary's age. The asset allocation of the money invested in these investment options is automatically adjusted quarterly over time to become more conservative as the number of years to enrollment for the Designated Beneficiary decreases.

Static investment options:

The four iShares Asset Allocation Portfolios are designed to meet a specific risk profile and are offered in Aggressive, Moderate, Conservative and Fixed Income allocations. The asset allocation is reviewed at least annually and may be updated to take into account changes in risk and correlations of the asset classes and underlying investments. A dollar-cost averaging option provides for automatic monthly reallocations. The Custom iShares portfolio option offers seventeen individual portfolios investing in equity, real estate or fixed-income funds. A savings option invests in an FDIC-insured account.

Underlying investments:

iShares exchange traded funds (ETFs), BlackRock Fund Advisors, Sallie Mae

Underlying fund allocations:

Portfolio Fees & Performance Lookup

Fees & Expenses

Enrollment or application fee:

None.

Account maintenance fee:

$10 annually, waived for accounts with $20,000 or more.

Program management fees:

Year-to-Enrollment and Asset Allocation Portfolios:
0.40% manager fee (includes 0.05% state administration fee), plus 0.25% annual sales fee (Class A), 0.60% (Class L), or 0.00% (Class F).

Custom Portfolios:
0.35% manager fee (includes 0.05% state administration fee), plus 0.25% annual sales fee (Class A), 0.60% (Class L), or 0.00% (Class F).

Expenses of the underlying investments:

Ranges from 0.05% to 0.13% (portfolio weighted average) in the Year-to-Enrollment and Asset Allocation Portfolios, 0.03% to 0.49% in the Custom Portfolios, none for the Savings Portfolio.

Total asset-based expense ratio:

Class A: 0.35% - 1.09%
Class L: 0.35% - 1.44%
Class F: 0.35% - 0.84%

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:

$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 to Arkansas 529 plans of up to $5,000 ($10,000 total per married couple), are deductible in computing Arkansas state income tax. Contributions greater than these amounts may be carried forward to the next succeeding four (4) tax years. Contributions to non-Arkansas 529 plans of up to $3,000 ($6,000 total per married couple) are deductible in computing Arkansas state income tax provided the taxpayer has not deducted the contribution on another state's income tax return. Rollover contributions from an out-of-state 529 plan to an Arkansas 529 plan of up to $7,500 ($15,000 per married couple) are deductible in the tax year the contribution is rolled over. Contributions sent by mail must be postmarked by December 31 of the tax year.

Calculate your Arkansas 529 tax benefit

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

Your tax savings per year
$0

Household income

$100,000

Monthly Contribution

$100

State tax recapture provisions:

Arkansas state tax deductions will be subject to recapture in subsequent years if Non-Qualified Withdrawals are made or the Arkansas taxpayer rolls the Account over to a tax deferred tuition savings program established by another state.

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.

State tax treatment of qualified distributions:

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

State tax treatment of rollovers:

Arkansas follows federal tax-free treatment for rollovers except that outbound rollovers are subject to the recapture of prior state tax deductions. Rollover contributions from another state's plan are deductible in the amount of $7,500 per individual and $15,000 per couple.

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, 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:

https://brighterfutureadvisor529.com/

Telephone:

1-888-529-9552

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