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Schwab 529 College Savings Plan

4 / 5

Our rating

Best KS resident benefits

KS resident benefits

The Kansas Schwab 529 College Savings Plan is available through discount broker Charles Schwab and managed by American Century. The Plan utilizes a variety of mutual fund families in its age-based and static portfolios with an actively managed or index option. Accounts can be linked to the Upromise rewards service.

Schwab 529 College Savings PlanHigh Honors

KEY METRICS

OVERVIEW

Program type

Savings

Inception

2003

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

Charles Schwab & Co. 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, and UGMA/UTMA custodians. 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.

SPONSORED

Other great plans to consider

You are not limited to your own state's 529 plan, so compare the plan and tax benefits offered by your state to other options. Here are some plans that are available to residents of any state and have earned awards in our 529 Plan Ratings:

Investment Options

Investors in Schwab 529 College Savings Plan can select from the following investment options. Click on a portfolio name for more information.

The Age-Based option is available as actively managed or index, with 4 different risk levels (Aggressive, Moderately Aggressive, Moderate, and Moderately Conservative) each containing 8 portfolios of underlying mutual funds. Contributions are placed into the portfolio corresponding to the selected risk level and the age of the beneficiary or the number of years to expected enrollment, and later reassigned to more conservative portfolios as the beneficiary approaches college age.
PortfolioE.R. % Equity1yr performance
Moderately Conservative: Age 0-4 (40% Equity)0.65%40%4.29%
Moderately Conservative: Age 11-13 (30% Equity)0.6%30%4.66%
Moderately Conservative: Age 14-15 (20% Equity)0.55%20%4.85%
Moderately Conservative: Age 16-17 (10% Equity)0.49%10%4.9%
Moderately Conservative: Age 18-19 (Short-Term)0.44%0%4.92%
Moderately Conservative: Age 20+ (Short-Term)0.44%0%4.92%
Moderate: Age 0-4 (60% Equity)0.72%60%3.8%
Moderate: Age 5-7 (60% Equity)0.72%60%3.8%
Moderate: Age 8-10 (50% Equity)0.68%50%4.09%
Moderate: Age 11-13 (40% Equity)0.65%40%4.29%
Moderate: Age 14-15 (30% Equity)0.6%30%4.66%
Moderate: Age 16-17 (20% Equity)0.55%20%4.85%
Moderate: Age 18-19 (10% Equity)0.49%10%4.9%
Moderate: Age 20+ (Short-Term)0.44%0%4.92%
Moderately Aggressive: Age 0-4 (80% Equity)0.77%80%3.06%
Moderately Aggressive: Age 5-7 (70% Equity)0.74%70%3.48%
Moderately Aggressive: Age 8-10 (60% Equity)0.72%60%3.8%
Moderately Aggressive: Age 11-13 (50% Equity)0.68%50%4.09%
Moderately Aggressive: Age 14-15 (40% Equity)0.65%40%4.29%
Moderately Aggressive: Age 16-17 (30% Equity)0.6%30%4.66%
Moderately Aggressive: Age 18-19 (20% Equity)0.55%20%4.85%
Moderately Aggressive: Age 20+ (10% Equity)0.49%10%4.9%
Aggressive: Age 0-4 (95% Equity)0.82%95%2.49%
Aggressive: Age 5-7 (80% Equity)0.77%80%3.06%
Aggressive: Age 8-10 (70% Equity)0.74%70%3.48%
Aggressive: Age 11-13 (60% Equity)0.72%60%3.8%
Aggressive: Age 14-15 (50% Equity)0.68%50%4.09%
Aggressive: Age 16-17 (40% Equity)0.65%40%4.29%
Aggressive: Age 18-19 (30% Equity)0.6%30%4.66%
Aggressive: Age 20+ (20% Equity)0.55%20%4.85%
Moderately Conservative (Index): Age 0-4 (40% Equity)0.2%40%5.5%
Moderately Conservative (Index): Age 11-13 (30% Equity)0.2%30%5.65%
Moderately Conservative (Index): Age 14-15 (20% Equity)0.2%20%5.56%
Moderately Conservative (Index): Age 16-17 (10% Equity)0.2%10%5.28%
Moderately Conservative (Index): Age 18-19 (Short-Term)0.2%0%4.92%
Moderately Conservative (Index): Age 20+ (Short-Term)0.2%0%4.92%
Moderate (Index): Age 0-4 (60% Equity)0.2%60%5.46%
Moderate (Index): Age 5-7 (60% Equity)0.2%60%5.46%
Moderate (Index): Age 8-10 (50% Equity)0.2%50%5.5%
Moderate (Index): Age 11-13 (40% Equity)0.2%40%5.5%
Moderate (Index): Age 14-15 (30% Equity)0.2%30%5.65%
Moderate (Index): Age 16-17 (20% Equity)0.2%20%5.56%
Moderate (Index): Age 18-19 (10% Equity)0.2%10%5.28%
Moderate (Index): Age 20+ (Short-Term)0.2%0%4.92%
Moderately Aggressive (Index): Age 0-4 (80% Equity)0.2%80%5.32%
Moderately Aggressive (Index): Age 5-7 (70% Equity)0.2%70%5.44%
Moderately Aggressive (Index): Age 8-10 (60% Equity)0.2%60%5.46%
Moderately Aggressive (Index): Age 11-13 (50% Equity)0.2%50%5.5%
Moderately Aggressive (Index): Age 14-15 (40% Equity)0.2%40%5.5%
Moderately Aggressive (Index): Age 16-17 (30% Equity)0.2%30%5.65%
Moderately Aggressive (Index): Age 18-19 (20% Equity)0.2%20%5.56%
Moderately Aggressive (Index): Age 20+ (10% Equity)0.2%10%5.28%
Aggressive (Index): Age 0-4 (95% Equity)0.2%95%5.03%
Aggressive (Index): Age 5-7 (80% Equity)0.2%80%5.32%
Aggressive (Index): Age 8-10 (70% Equity)0.2%70%5.44%
Aggressive (Index): Age 11-13 (60% Equity)0.2%60%5.46%
Aggressive (Index): Age 14-15 (50% Equity)0.2%50%5.5%
Aggressive (Index): Age 16-17 (40% Equity)0.2%40%5.5%
Aggressive (Index): Age 18-19 (30% Equity)0.2%30%5.65%
Aggressive (Index): Age 20+ (20% Equity)0.2%20%5.56%
Moderately Conservative: Age 5-7 (40% Equity)0.65%40%4.29%
Moderately Conservative: Age 8-10 (40% Equity)0.65%40%4.29%
Moderately Conservative (Index): Age 5-7 (40% Equity)0.2%40%5.5%
Moderately Conservative (Index): Age 8-10 (40% Equity)0.2%40%5.5%

Age-based/Enrollment Year investment options:

The Age-Based option is available as actively managed or index, with 4 different risk levels (Aggressive, Moderately Aggressive, Moderate, and Moderately Conservative) each containing 8 portfolios of underlying mutual funds. Contributions are placed into the portfolio corresponding to the selected risk level and the age of the beneficiary or the number of years to expected enrollment, and later reassigned to more conservative portfolios as the beneficiary approaches college age.

Static investment options:

Select among 6 multi-fund portfolios and the Money Market Portfolio. The static option is available with actively managed or index funds.

Underlying investments:

American Beacon, American Century, Baird, JP Morgan, Laudus, Schwab, Metropolitan West Asset Management, Vanguard, TCW Group

Underlying fund allocations:

Portfolio Fees & Performance Lookup

Fees & Expenses

Enrollment or application fee:

None.

Account maintenance fee:

None.

Program management fees:

0.17% manager fee for the actively managed options

Expenses of the underlying investments:

Ranges from 0.19% - 0.67% (portfolio weighted average)

Total asset-based expense ratio:

0.34% - 0.82; Index portfolios have all-inclusive fee of 0.20%.

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:

None.

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?

Yes

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

Contact

Website:

https://www.schwab.com/529-plan

Telephone:

1-866-903-3863

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