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Learning Quest Advisor

4 / 5

Our rating

Best KS resident benefits

KS resident benefits

Kansas Learning Quest Advisor version of Learning Quest was overhauled in May 2007 and offers multi-manager age-based portfolios and static portfolios in addition to a menu of individual funds. Accounts can be linked to the Upromise rewards service. To find a financial advisor in your area, use the Directory of Financial Professionals.

Learning Quest AdvisorHonors

KEY METRICS

OVERVIEW

Program type

Savings

Inception

2002

State agency

Kansas State Treasurer

Tax deduction

For single filers: $3,000/yr per beneficiary

For joint filers: $6,000/yr per beneficiary

Program manager

American Century Investment Management, Inc.

Program distributor

American Century Investment Services, Inc.

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. Joint ownership is permitted.

Significant time or age restrictions imposed by the program:

None

Contributions

Maximum contributions:

Accepts contributions until all account balances in Kansas' 529 plans for the same beneficiary reach $501,000.

Minimum contributions:

No minimum

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 Learning Quest Advisor can select from the following investment options. Click on a portfolio name for more information.

The age-based portfolios are offered in 3 different risk levels: Aggressive, Moderate and Conservative. Contributions are placed into the portfolio corresponding to the selected risk level and the beneficiary's age. Over time, accounts move between one or more of the 8 portfolios that make up these tracks.
PortfolioE.R. % Equity1yr performance
Conservative Age Based: 60% Equity (Age 0-4)0.9%60%4.7%
Conservative Age Based: 50% Equity (Age 5-7)0.84%50%4.77%
Conservative Age Based: 40% Equity (Age 8-10)0.53%40%4.72%
Conservative Age Based: 30% Equity (Age 11-13)0.53%30%4.77%
Conservative Age Based: 30% Equity (Age 14-15)0.53%30%4.77%
Conservative Age Based: 20% Equity (Age 16-17)0.53%20%4.83%
Conservative Age Based: 10% Equity (Age 18-19)0.53%10%4.91%
Conservative Age Based: Short-Term (Age 20+)0.48%0%4.74%
Moderate Age Based: 70% Equity (Age 0-4)0.96%70%4.58%
Moderate Age Based: 60% Equity (Age 5-7)0.9%60%4.7%
Moderate Age Based: 50% Equity (Age 8-10)0.84%50%4.77%
Moderate Age Based: 50% Equity (Age 11-13)0.84%50%4.77%
Moderate Age Based: 40% Equity (Age 14-15)0.53%40%4.72%
Moderate Age Based: 30% Equity (Age 16-17)0.53%30%4.77%
Moderate Age Based: 20% Equity (Age 18-19)0.53%20%4.83%
Moderate Age Based: 10% Equity (Age 20+)0.53%10%4.91%
Aggressive Age Based: 90% Equity (Age 0-4)1%90%4.51%
Aggressive Age Based: 80% Equity (Age 5-7)0.98%80%4.57%
Aggressive Age Based: 70% Equity (Age 8-10)0.96%70%4.58%
Aggressive Age Based: 60% Equity (Age 11-13)0.9%60%4.7%
Aggressive Age Based: 50% Equity (Age 14-15)0.84%50%4.77%
Aggressive Age Based: 40% Equity (Age 16-17)0.59%40%4.72%
Aggressive Age Based: 30% Equity (Age 18-19)0.59%30%4.77%
Aggressive Age Based: 20% Equity (Age 20+)0.59%20%4.83%

Age-based/Enrollment Year investment options:

The age-based portfolios are offered in 3 different risk levels: Aggressive, Moderate and Conservative. Contributions are placed into the portfolio corresponding to the selected risk level and the beneficiary's age. Over time, accounts move between one or more of the 8 portfolios that make up these tracks.

Static investment options:

Select among 8 multi-fund portfolios, 11 American Century individual-fund options and the Cash and Cash Equivalent option.

Underlying investments:

Mutual funds from American Century, T. Rowe Price, Principal Financial Group, and American Beacon

Underlying fund allocations:

Portfolio Fees & Performance Lookup

Fees & Expenses

Enrollment or application fee:

None, but contributions may be subject to a sales charge depending on share class.

Account maintenance fee:

None.

Program management fees:

0.20% manager fee (waived for the Cash and Cash Equivalent option) plus distribution/servicing fees of 0.25% (Class A); 1% (0.75% for the Cash and Cash Equivalent option)(Class C).

Expenses of the underlying investments:

Ranges from 0.33% to 0.88% in the age-based and static portfolios and 0.09% to 1.25% in the individual fund portfolios (portfolio weighted averages).

Total asset-based expense ratio:

Class A: 0.24% - 1.40%
Class C: 0.24% - 1.40%

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:

$3,000/yr per beneficiary

Tax deduction for joint filers:

$6,000/yr per beneficiary

Program match on contributions:

The Kansas Investments Developing Scholars (K.I.D.S.) Matching Grant Program was developed for Kansas residents with incomes less than 200% of the federal poverty level. The State of Kansas will match the first $600 that Account Owners contribute to a Learning Quest Advisor account for each beneficiary eligible year of eligibility. Applications are limited to 1200 per year and are processed on a first-come first-served basis. Applications and contributions must be received by December 31 each year.

State tax deduction or credit for contributions:

Contributions to Kansas AND non-Kansas state-sponsored 529 plans of up to $3,000 per beneficiary per year by an individual, and up to $6,000 per beneficiary per year by a married couple filing jointly, are deductible in computing Kansas taxable income. Rollover contributions are not deductible. Kansas taxpayers that make a contribution between January 1 and the tax filing deadline are allowed to choose either the current tax year or previous tax year in which to take the individual state income tax deduction.

Calculate your Kansas 529 tax benefit

Find out how much you can save on state taxes this year by contributing to a Kansas 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 Kansas taxable income to the extent of prior Kansas tax deductions. Rollovers are not subject to recapture.

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 Kansas and non-Kansas 529 plans are exempt.

State tax treatment of rollovers:

Kansas follows federal tax-free treatment.

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://www.learningquest.com/home/invest/529-investment-options/investing-with-advisor.html

Telephone:

1-877-882-6236

Telephone for broker use:

Twitter

http://www.twitter.com/AmericanCentury

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