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Nebraska Education Savings Trust -- Advisor College Savings Plan

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Best NE resident benefits

NE resident benefits

Nebraska Education Savings Trust -- Advisor College Savings Plan changed program managers in December 2010 from Union Bank and Trust Company of Lincoln, Nebraska to First National Bank of Omaha. Plan management returned to Union Bank and Trust Company in 2020. Accounts can be linked to the Upromise rewards service. To find a financial advisor in your area, use the Directory of Financial Professionals.

Nebraska Education Savings Trust -- Advisor College Savings PlanHonors

KEY METRICS

OVERVIEW

Program type

Savings

Inception

2001, but substantially changed December 2010 and December 2020

State agency

Nebraska State Treasurer and Nebraska Investment Council

Tax deduction

For single filers: $10,000/yr per beneficiary

For joint filers: $10,000/yr per beneficiary

Program manager

Union Bank and Trust Company

Program distributor

Northern Trust Securities, Inc

Manager contract term

MORE INFORMATION

Eligibility

State residency requirements:

None

Who can be a participant/owner in the program?

U.S. resident individuals with a valid Social Security number or taxpayer ID number, UGMA/UTMA custodians, legal entities.

Significant time or age restrictions imposed by the program:

None

Contributions

Maximum contributions:

Accepts contributions until all account balances in Nebraska's 529 plans for the same beneficiary reach $500,000.

Minimum contributions:

No minimum.

Does the program offer an e-gifting platform for receiving gift contributions?

This plan offers an online tool to share a gift contribution link with family and friends., For federal gift tax purposes, contributions to an account are considered a gift from the contributor to the Beneficiary that is eligible for the gift tax annual exclusion. For 2021, the annual exclusion was $15,000 per donee ($30,000 for a married couple that elects on a federal gift tax return to "split" gifts). Effective January 1, 2022, the annual exclusion is $16,000 per donee ($32,000 for a married couple that elects on a federal gift tax return to "split" gifts).

Investment Options

Investors in Nebraska Education Savings Trust -- Advisor College Savings Plan can select from the following investment options. Click on a portfolio name for more information.

The Age-Based Portfolios option offers 3 different risk levels (Multi-Firm Aggressive , Multi-Firm Moderate, and Conservative Index) each containing 9 portfolios of underlying funds. Contributions are placed into the portfolio corresponding to the selected risk level and beneficiary's age, and later reassigned to more conservative portfolios as the beneficiary approaches college age.
PortfolioE.R. % Equity1yr performance
Age-Based Aggressive 0-20.65%100%5.9%
Age-Based Aggressive 11-120.64%60%5.8%
Age-Based Aggressive 13-140.63%50%5.72%
Age-Based Aggressive 15-160.62%40%5.71%
Age-Based Aggressive 17-180.59%30%5.58%
Age-Based Aggressive 19+0.57%20%5.64%
Age-Based Aggressive 3-50.65%90%6%
Age-Based Aggressive 6-80.66%80%5.86%
Age-Based Aggressive 9-100.65%70%5.91%
Age-Based Moderate 0-20.65%90%5.98%
Age-Based Moderate 11-120.63%50%5.74%
Age-Based Moderate 13-140.62%40%5.7%
Age-Based Moderate 15-160.59%30%5.6%
Age-Based Moderate 17-180.57%20%5.59%
Age-Based Moderate 19+0.54%10%5.44%
Age-Based Moderate 3-50.66%80%5.88%
Age-Based Moderate 6-80.65%70%5.9%
Age-Based Moderate 9-100.64%60%5.77%
Age-Based Conservative 0-20.47%80%6.51%
Age-Based Conservative 11-120.47%40%5.72%
Age-Based Conservative 13-140.47%30%5.66%
Age-Based Conservative 15-160.47%20%5.42%
Age-Based Conservative 17-180.22%10%5.53%
Age-Based Conservative 19+0.22%0%5.28%
Age-Based Conservative 3-50.47%70%5.32%
Age-Based Conservative 6-80.47%60%6.14%
Age-Based Conservative 9-100.47%50%5.86%

Age-based/Enrollment Year investment options:

The Age-Based Portfolios option offers 3 different risk levels (Multi-Firm Aggressive , Multi-Firm Moderate, and Conservative Index) each containing 9 portfolios of underlying funds. Contributions are placed into the portfolio corresponding to the selected risk level and beneficiary's age, and later reassigned to more conservative portfolios as the beneficiary approaches college age.

Static investment options:

Select among 5 static options (All Equity, Growth, Balanced, Conservative) and 19 individual-fund portfolios including a money market option and the Bank Savings option.

Underlying investments:

Vanguard, T. Rowe Price, DFA, MetWest, State Street, Fidelity, PGIM Investments, American Funds, Dodge & Cox and Northern Funds. The Bank Savings option invests in an FDIC-insured savings account held in trust at Union Bank and Trust Company and/or Nelnet Bank.

Underlying fund allocations:

Portfolio Fees & Performance Lookup

Fees & Expenses

Enrollment or application fee:

None.

Account maintenance fee:

None.

Program management fees:

All portfolios except the State Street U.S. Government Money Market, Age-Based Index Conservative 17-18, Age-Based Index Conservative 19+, and Bank Savings option:
0.15% and a state fee of 0.02%, plus account servicing fees of 0.25% (Class A), 0.50% (Class C), 1.00% (Class C-1), none for Class F

State Street U.S. Government Money Market, Age-Based Index Conservative 17-18, Age-Based Index Conservative 19+, and Bank Savings option:
0.15% and a state fee of 0.02%

Expenses of the underlying investments:

Ranges from 0.05% to 0.24% (portfolio weighted average) in the age-based and static multi-fund portfolios, from 0.02% to 0.60% in the individual-fund portfolios, none for the Bank Savings option.

Total asset-based expense ratio:

Class A: 0.17% - 1.02%
Class C: 0.17% - 1.27%
Class F: 0.17% - 0.77%

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:

$10,000/yr per beneficiary

Tax deduction for joint filers:

$10,000/yr per beneficiary

Program match on contributions:

The Meadowlark Savings Pledge provides eligible Nebraska newborns with a NEST savings account for education expenses. Any baby born on or after January 1, 2020, who is a resident of Nebraska at the time of birth is eligible to receive a Meadowlark seed contribution of $50. Babies are enrolled in the program in the spring following their year of birth.

State tax deduction or credit for contributions:

Contributions by an account owner who files a Nebraska state income tax return, including the principal and earnings portions of rollovers from another qualified college savings plan not issued by the State of Nebraska, are deductible in computing the account owner's Nebraska taxable income for Nebraska income tax purposes in an amount not to exceed $10,000 ($5,000 for married taxpayers filing separate returns) in the aggregate for all contributions to all accounts within the Trust in any taxable year. Contributions by a custodian of an UGMA or UTMA account who is also the parent or guardian of the Beneficiary of an UGMA or UTMA account may claim this deduction. Contribution deadline is December 31 postmark.

Calculate your Nebraska 529 tax benefit

Find out how much you can save on state taxes this year by contributing to a Nebraska 529 plan.

Your tax savings per year
$0

Household income

$100,000

Monthly Contribution

$100

State tax recapture provisions:

Nebraska state tax deductions are subject to recapture if the account owner cancels a Participation Agreement, makes a partial or complete Nebraska Non-Qualified Withdrawal or rolls assets to an out-of-state 529 qualified tuition program or ABLE program.

State definition of qualified expenses

The state's definition of qualified education expenses currently includes expenses for attendance at an institution of higher education as defined by the Internal Revenue Code and its regulations addressing qualified state tuition programs or participation in an apprenticeship program, and interest and/or principal on qualified education loans up to a $10,000 lifetime cap. This does not include tuition for elementary or secondary education. 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 Nebraska and non-Nebraska 529 plans are exempt.

State tax treatment of rollovers:

Nebraska follows federal tax-free treatment except that outbound rollovers are subject to the recapture of prior state tax deductions.

Does the sponsoring state exclude the value of an account for state financial aid purposes?

Yes

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:

http://www.nest529Advisor.com/

Telephone:

888-659-6378

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