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Stable Value Plus College Savings Program

FDIC-Insured or Stable Value Plan

FDIC-insured plans offer only federally insured products such as savings accounts or CDs. Stable Value plans offer a minimum annual rate of return. Because of the unique structure of these plans, they are not considered in our ratings methodology.

The CollegeInvest Stable Value Plus College Savings Plan was created to protect principal and guarantee a minimum annual rate of return under a funding agreement with Nationwide.

OVERVIEW

Program type

Savings

Inception

2003

State agency

CollegeInvest, a division of the Colorado Department of Higher Education

Tax deduction

For single filers: $25,400/yr per beneficiary

For joint filers: $38,100/yr per beneficiary

Program manager

Nationwide Mutual Insurance Company

Program distributor

Nationwide Mutual Insurance Company

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, 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 Colorado's 529 plans for the same beneficiary reach $500,000.

Minimum contributions:

The minimum initial contribution is $25, and the minimum subsequent contribution is $25.

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.

Other great plans to consider

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Investment Options

Age-based/Enrollment Year investment options:

None.

Static investment options:

Funds are invested in a stable value investment under a funding agreement with Nationwide Mutual Insurance Company. The interest rate is declared annually. The 2022 rate of return is 1.79% net of all fees. Nationwide Mutual Insurance Company resets the annual rate of return for the plan each January 1, and CollegeInvest makes the upcoming year's rate of return available the December before the rate is reset.

Underlying investments:

A funding agreement issued by Nationwide Mutual Insurance Company.

Underlying fund allocations:

Portfolio Fees & Performance Lookup

Fees & Expenses

Enrollment or application fee:

None.

Account maintenance fee:

None.

Program management fees:

0.99% administrative fee to the state (0.28% of this fee waived as of January 2019).

Expenses of the underlying investments:

Not applicable, included in the program management fee.

Total asset-based expense ratio:

Currently 0.71% due to waiver; not to exceed 0.99%

Taxes and other Benefits

Tax deduction for single filers:

$25,400/yr per beneficiary

Tax deduction for joint filers:

$38,100/yr per beneficiary

Program match on contributions:

The Matching Grant Program provides a dollar-for-dollar match of up to $500 in contributions for lower- to middle-income Colorado residents to accounts with an eligible beneficiary (a dependent under age 13 at the time of initial application). Applications are accepted each year between October 3 and December 29, 2023. The match can extend for a maximum five years. Matching grants for future years are subject to continued funding by the sponsor. In addition, First Step, a kickstarter savings program gives every child born or adopted in the State of Colorado, beginning on January 1, 2020, a $100 contribution to their CollegeInvest 529 college savings account. Offering more opportunities for Colorado families to save for college, CollegeInvest will also match a portion of their future contributions, up to $500 per year for five (5) consecutive years.

State tax deduction or credit for contributions:

For income tax year commencing on January 1, 2024, the Colorado income tax deduction otherwise available for contributions to any Colorado 529 plan or any 529 plan affiliated with an educational institution in Colorado shall not exceed $22,700 per taxpayer per beneficiary for a taxpayer who files a single return, or $34,000 per taxpayer per beneficiary for taxpayers who file a joint return. For income tax years commencing on or after January 1, 2025, the deduction limits described in the preceding sentence will be adjusted annually by the percentage change in the combined average annual costs of tuition and room and board for all Colorado institutions of higher education as determined by the Colorado Department of Education.

The Working Families College Savings Act offers a Colorado tax credit for employers who make contributions to CollegeInvest savings plans owned by their employees. The available tax credit is 20% of the amount contributed to a CollegeInvest 529 account, up to $500 per employee (for a $2,500 employer contribution).

Calculate your Colorado 529 tax benefit

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

Your tax savings per year

Tax Filing Status

Household income

$100,000

Monthly Contribution

$100

State tax recapture provisions:

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

State definition of qualified expenses

The state's definition of qualified education expenses currently includes expenses for attendance at an institution of higher education or an apprenticeship program, as defined by the Internal Revenue Code and its regulations addressing qualified state tuition programs. This does not include tuition for elementary or secondary education, or education loan payments. Distributions from a 529 account directly to a Roth IRA are not considered a qualified expense for state income tax purposes.

State tax treatment of qualified distributions:

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

State tax treatment of rollovers:

Colorado follows federal tax-free treatment except that outbound rollovers are subject to the recapture of prior state tax deductions.

Does the sponsoring state exclude the value of an account for state financial aid purposes?

Does participation in the program provide beneficiaries with any advantages in qualifying for resident tuition status at state institutions?

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?

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

Contact

Website:

http://www.collegeinvest.org/collegeinvest-savings-plans/stable-value-plus-plan/

Telephone:

1-800-448-2424

Twitter

http://twitter.com/#!/CollegeInvestCO

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