General InformationDownload PDF Report
State Farm College Savings Plan
Nebraska's State Farm College Savings Plan utilizes Vanguard, State Street, DFA and iShares funds in its age-based and static portfolios. First National Bank serves as program manager and assumed responsibilities as plan distributor from Oppenheimer and OFI in August of 2018. To find a financial advisor in your area, use the Directory of Financial Professionals.
- Program typeSavings
- State agencyNebraska State Treasurer
- Tax deduction
- Program ManagerFirst National Bank of Omaha
- Program distributorFirst National Capital Markets, Inc.
- 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?Individuals of legal age, UGMA/UTMA custodians, trusts, state/local governments and 501(c)(3) organizations.
Significant time or age restrictions imposed by the program:None
Maximum contributions:Accepts contributions until all account balances in Nebraska's 529 plans for the same beneficiary reach $400,000.
Minimum contributions:With lump-sum contributions, the minimum initial contribution is $250 per account, and the minimum subsequent contribution is $50 per portfolio. With the automatic investment plan, the minimum contribution level is $50 per portfolio.
Age-based investment options:The Age-Based option contains 9 portfolios. Contributions are placed into the portfolio corresponding to the beneficiary's age, and later reassigned to more conservative portfolios as the beneficiary approaches college age.View more age-based investment options
Static investment options:Select among 7 portfolios: All Equity, Growth, Moderate Growth, Balanced, Conservative, Money Market and Bank Savings.View more static investment options
Underlying investments:Vanguard, State Street, DFA, iShares funds, and Goldman Sachs Government Money Market fund. The Bank Savings option invests in an FDIC-insured savings account.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, but contributions may be subject to a sales charge depending on share class.
Account maintenance fee:$25, waived for accounts with a balance exceeding $20,000.
Program management fees:0.27% (including 0.02% state fee) plus distribution fees of 0.25%; 0.27% (including 0.02% state fee) for the Money Market; 0.20% (including 0.02% state fee) for the Bank Savings options.
Expenses of the underlying investments:Ranges from 0.05% to 0.09% (portfolio weighted average) in the age-based options, from 0.05% to 0.18% in the static portfolios, none for the Bank Savings option.
Total asset-based expense ratio:Class A: 0.45% - 0.61%
Bank Savings option: 0.20%
Broker loads and commissions:UNLOCK PRO
Breakpoint pricing:UNLOCK PRO
Does breakpoint pricing include non-529 assets under rights of accumulation policiesUNLOCK PRO
Taxes and other Benefits
- Tax deduction for single filers$10,000/yr
- Tax deduction for joint filers$10,000/yr
Married filing jointly residents contributing $100/month can expect an additional $0 a year in tax savings.