General InformationDownload PDF Report
The Montana Family Education Savings Program -- Investment Plan was renamed Achieve Montana with a new suite of investments added in October 2015. Ascensus College Savings continues to serve as program manager for this direct-sold plan. Five investment options are offered featuring Vanguard and DFA funds as underlying investments and the Capital Preservation Portfolio invested in the New York Life Guaranteed Interest Account. Accounts can be linked to the Upromise rewards service.
- Program typeSavings
- Inception2002, but substantially changed in December 2010 and October 2015.
- State agencyMontana Board of Regents of Higher Education
- Tax deduction
- Program ManagerAscensus College Savings, with The Vanguard Group and Dimensional Fund Advisors LP as investment managers.
- Program distributorAscensus College Savings
- Manager contract termUNLOCK PRO
Ratings & Rankings
Our overall rating for non-residents
This is a recent program and does not yet have a 5-Cap Rating assigned.
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 of legal age, UGMA/UTMA custodians, and legal entities. Joint ownership by spouses is permitted.
Significant time or age restrictions imposed by the program:Qualified withdrawals from this plan within three years of establishing the account are subject to Montana tax at the highest Montana marginal rate to the extent of prior Montana tax deductions, but only after removal of non-deducted contributions.
Alternative 529 Plans
Maximum contributions:Accepts contributions until all account balances in Montana's 529 plans for the same beneficiary reach $396,000.
Minimum contributions:$25 or $15 through payroll deduction.
Age-based investment options:An age-based option, comprised of five portfolios, moves investments automatically from one portfolio to progressively more conservative investments as the beneficiary approaches college age.View more age-based investment options
Static investment options:Select among six portfolios, Aggressive, Growth, Moderate, Conservative, Income and the Capital Preservation Portfolio invested in the New York Life Guaranteed Interest Account.View more static investment options
Underlying investments:Vanguard and DFA 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:$25 annually, waived for accounts with a Montana resident as beneficiary and for accounts with balances of $25,000 or more and for account with automatic bank deposits or by payroll deduction.
Program management fees:0.52%; 0.47% for the Capital Preservation option, plus 0.20% administrative fee ( none for the Capital Preservation option)
Expenses of the underlying investments:Ranges from 0.0% to 0.11%
Total asset-based expense ratio:0.47% - 0.83%
Taxes and other Benefits
- Tax deduction for single filers$3,000/yr
- Tax deduction for joint filers$6,000/yr
Married filing jointly residents contributing $100/month can expect an additional $0 a year in tax savings.