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Maryland 529 -- Maryland Senator Edward J. Kasemeyer College Investment Plan
The Maryland 529 -- Senator Edward J. Kasemeyer College Investment Plan is a direct-sold 529 plan available to residents of any state, and offers investment options from T. Rowe Price. Maryland residents may enjoy a state tax deduction for contributions to the plan.
- Program typeSavings
- State agencyMaryland 529
- Tax deduction
- Program ManagerT. Rowe Price Associates, Inc.
- Program distributorT. Rowe Price Associates, Inc.
- Manager contract termUNLOCK PRO
Ratings & Rankings
Our overall rating for non-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.
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, UGMA/UTMA custodians, and legal entities organized in the U.S..
Significant time or age restrictions imposed by the program:None
Alternative 529 Plans
Other great plans you should consider
You are not limited to opening your own state's 529 plan, so shop around. We encourage you to consider the highly rated options below:
Maximum contributions:Accepts contributions until all account balances in Maryland's 529 plans for the same beneficiary reach $500,000.
Minimum contributions:The minimum contribution requirement is $25 per portfolio. The minimum for subsequent contributions, automatic monthly contributions and/or payroll deductions is $25 per portfolio.
Age-based investment options:The Enrollment-Based Portfolios contain 8 portfolios of underlying mutual funds, ranging from 100% equity to 20% equity. Contributions are placed into the portfolio corresponding to the number of years to expected enrollment based on the age of the beneficiary or as selected by the account owner. 7 portfolios shift to a more conservative investment allocation over time, eventually transferring to the Portfolio for College.View more age-based investment options
Static investment options:Select among 3 multi-fund portfolios (Equity Portfolio, Balanced Portfolio, Global Equity Market Index Portfolio) and 6 individual-fund portfolios (U.S. Treasury Money Market Portfolio, Inflation Focused Bond Portfolio, Bond and Income Portfolio, U.S Bond Enhanced Index Portfolio, Equity Index 500 Portfolio and Extended Equity Market Index Portfolio).View more static investment options
Underlying investments:T. Rowe Price mutual funds.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:None
Program management fees:0.05% Trust Fee
Expenses of the underlying investments:Ranges from 0.21 to 0.65% (portfolio weighted average).
Total asset-based expense ratio:0.26% - 0.70%
Taxes and other Benefits
- Tax deduction for single filers$2,500/yr
- Tax deduction for joint filers$5,000/yr
Married filing jointly residents contributing $100/month can expect an additional $0 a year in tax savings.