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IAdvisor 529 Plan
The IAdvisor 529 Plan is managed by Voya Investment Management Co. LLC. Voya succeeded Upromise Investments as program manager in March 2013. The revised program features an age-based option, five static allocation options, and 13 single fund options utilizing Voya funds managed by BG Overseas, BlackRock Financial Management, CBRE Clarion, Credit Suisse, DIFA, Goldman Sachs, Hahn Capital Management, JPMorgan, Lazard, LSV, Polaris, Van Eck, Voya IM, and Wellington Management. To find a financial advisor in your area, use the Directory of Financial Professionals.
- Program typeSavings
- Inception2006, but substantially changed in 2013
- State agencyState Treasurer of Iowa
- Tax deductionTax deduction for single filers $3,319/yrTax deduction for joint filers $6,638/yr
- Program ManagerVoya Investment Management Co. LLC
- Program distributorVoya Investments Distributor, LLC
- Manager contract termUNLOCK PRO
Ratings & Rankings
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.
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. citizens and resident aliens at least 18 years old, and UGMA/UTMA custodians.
Significant time or age restrictions imposed by the program:None
Maximum contributions:Accepts contributions until all account balances in Iowa's 529 plans for the same beneficiary reach $420,000.
Minimum contributions:With lump-sum contributions, the minimum initial and subsequent contribution is $250 per investment option ($50 per month per option with the automatic investment plan, $25 per pay period per option with payroll direct deposit).
Age-based investment options:The Age-Based Option contains 5 portfolios of underlying funds. Contributions are placed into the portfolio corresponding to the beneficiary's age or as selected by the account owner, and later reassigned to more conservative portfolios as the beneficiary approaches college.View more age-based investment options
Static investment options:Select among 5 static allocation portfolios and 13 individual-fund portfolios investing in mutual funds managed by BG Overseas, BlackRock Financial Management, CBRE Clarion, Credit Suisse, DIFA, Goldman Sachs, Hahn Capital Management, JPMorgan, Lazard, LSV, Polaris, Van Eck, Voya IM, and Wellington Management.View more static investment options
Underlying investments:Mutual funds from BG Overseas, BlackRock Financial Management, CBRE Clarion, Credit Suisse, DIFA, Goldman Sachs, Hahn Capital Management, JPMorgan, Lazard, LSV, Polaris, Van Eck, Voya IM, and Wellington Management.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.
Account maintenance fee:$25 annually, waived if the account balance in each investment option is greater than $25,000; waived for accounts with an automatic investment plan or payroll direct deposit of $100 per month in each investment option running on a monthly basis for 12 consecutive months.
Program management fees:0.50% (0.40% for Money Market) management fee includes 0.075% fee to the state, plus distribution/marketing fee of 0.25% (Class A) or 1.00% (Class C, except Money Market is 0.25%).
Expenses of the underlying investments:0.45% - 0.71% in the age-based and static options; 0.26% - 1.05% in the individual options.
Total asset-based expense ratio:Class A: 0.98% - 1.80%
Class C: 0.98% - 2.55%
Broker loads and commissions:UNLOCK PRO
Breakpoint pricing:UNLOCK PRO
Taxes and other Benefits
- Tax deduction for single filers$3,319/yr
- Tax deduction for joint filers$6,638/yr
Married filing jointly residents contributing $100/month can expect an additional $0 a year in tax savings.