Bright Start Advisor-Sold College Savings Program is no longer available
Click here to see other Illinois 529 plans.
In November 2017, the Bright Start Advisor-Sold College Savings Program combined with the Illinois Bright Directions Advisor-Guided 529 College Savings Program. Investments in Bright Start Advisor-Sold College Savings Program accounts were automatically transitioned to the corresponding Bright Directions portfolios. The Bright Start Advisor-Sold College Savings Program has been terminated and all former Bright Start Advisor-Sold College Savings Program accounts are now bound and governed by the terms of the Bright Directions Advisor-Guided 529 College Savings Program Participation Agreement and Program Disclosure Statement. To find a financial advisor in your area, use the Directory of Financial Professionals.
- Program typeSavings
- Inception2007
- State agencyIllinois State Treasurer
- Tax deduction
- Program ManagerUnion Bank & Trust Company of Lincoln, Nebraska
- Program distributorNorthern Trust Securities, Inc.
Ratings & Rankings
Our overall rating for IL residents
This is a very good program that offers valuable benefits but may have some limitations or concerns that investors need to know.
Our overall rating for non-residents
This is a very good program that offers valuable benefits but may have some limitations or concerns that investors need to know.
SAVING FOR COLLEGE’S 5-Cap Ratings provides an evaluation and comparison of 529 plans, utilizing a formula that examines dozens of factors grouped into the following categories.
Eligibility
State residency requirements:
Who can be a participant/owner in the program?
Significant time or age restrictions imposed by the program:
Contributions
Maximum contributions:
Minimum contributions:
Investment Options
Age-based/Enrollment Year investment options:
View more age-based investment optionsStatic investment options:
View more static investment optionsUnderlying investments:
View a full list of this plan’s investment optionsUnderlying fund allocations:
Portfolio Fees & Performance Lookup
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Fees & Expenses
Enrollment or application fee:
Account maintenance fee:
Program management fees:
Expenses of the underlying investments:
Total asset-based expense ratio:
Broker loads and commissions:
Breakpoint pricing:
Taxes and other Benefits
- Tax deduction for single filers$10,000/yr
- Tax deduction for joint filers$20,000/yr
Example
Married filing jointly residents contributing $100/month can expect an additional $0 a year in tax savings.
Program match on contributions:
State tax deduction or credit for contributions:
State tax recapture provisions:
State tax treatment of qualified distributions:
State tax treatment of rollovers:
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?
Upromise Helps Families Save for College
Statutory protection of an account from creditors:
Distributions & Terminations
To whom are distributions made payable:
Account Changes
Policy regarding participant/owner changes:
Documents, Access & Reporting
Does participant have online password-protected access to account?
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:
Telephone:
Telephone for broker use:
http://www.twitter.com/BrightStart529
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