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KY Saves 529

The manager for KY Saves 529 (previously known as The Kentucky Education Savings Plan Trust) changed from TIAA-CREF to Ascensus College Savings in February 2019. The plan features a school enrollment based option, four asset allocation options, and an FDIC-insured option.

Fee Score

3 / 5

Performance

3 / 5
  • Program type
    Savings
  • Inception
    1990, substantially changed in 2019
  • State agency
    Kentucky Higher Education Assistance Authority
  • Tax deduction
  • Program Manager
    Ascensus College Savings
  • Program distributor
    Ascensus College Savings

Ratings & Rankings

Our overall rating for KY residents

This is an excellent program with many benefits for the participant and positive investment attributes. If it has any significant weaknesses then it also has some particularly good things to recommend it.

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:

Alternative 529 Plans

Other great plans to consider

You are not limited to opening your own state's 529 plan, so shop around. Here are some highly rated options to consider:

Plan

Our Rating

Fee Score

Performance

Contributions

Maximum contributions:

Minimum contributions:

Investment Options

Age-based/Enrollment Year investment options:

View more age-based investment options

Static investment options:

View more static investment options

Underlying 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:

Taxes and other Benefits

  • Tax deduction for single filers
    None
  • Tax deduction for joint filers
    None

Note

Kentucky doesn't offer tax deductions

Program match on contributions:

State tax deduction or credit for contributions:

State definition of qualified expenses

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:

Plan News

A good place to start:
A good place to start:
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