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Putnam 529 for America

4.5 / 5

Our rating

Good NV resident benefits

NV resident benefits

Launched in October 2010, Nevada's Putnam 529 for America advisor-sold 529 savings plan offers an age-based option, 3 goal-based options, 10 individual-fund options, and 2 options consisting of the Putnam Absolute Return Funds. The 10 individual-fund options include several non-Putnam mutual funds. To find a financial advisor in your area, use the Directory of Financial Professionals.

Putnam 529 for AmericaTop of the Class

KEY METRICS

OVERVIEW

Program type

Savings

Inception

2010

State agency

Board of Trustees of the College Savings Plans of Nevada

Tax deduction

For single filers: None

For joint filers: None

Program manager

Putnam Investment Management, LLC

Program distributor

Franklin Distributors, LLC

Manager contract term

Eligibility

State residency requirements:

None

Who can be a participant/owner in the program?

U.S. citizens and resident aliens, UGMA/UTMA custodians, trusts, and 501(c)(3) organizations.

Significant time or age restrictions imposed by the program:

None

Contributions

Maximum contributions:

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

Minimum contributions:

$25 minimum initial contribution, currently being waived.

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

This plan does not offer an online gifting portal allowing for easy sharing but may offer gift certificates or allow mail-in gift contributions.

Investment Options

Investors in Putnam 529 for America can select from the following investment options. Click on a portfolio name for more information.

The Age-Based Asset Allocation Investment Option contains 22 portfolios: newborn through age 21+. Contributions are allocated based on the age of the beneficiary.
PortfolioE.R. % Equity1yr performance
Age-Based - Newborn1.16%85%N/A
Age-Based - Age 11.16%85%7.83%
Age-Based - Age 21.15%82.8%7.71%
Age-Based - Age 31.15%81.2%7.64%
Age-Based - Age 41.15%79%7.67%
Age-Based - Age 51.14%76%7.64%
Age-Based - Age 61.14%73.4%7.51%
Age-Based - Age 71.14%70%7.42%
Age-Based - Age 81.13%66.2%7.34%
Age-Based - Age 91.13%62.1%7.24%
Age-Based - Age 101.13%58.8%7.07%
Age-Based - Age 111.12%54.5%6.97%
Age-Based - Age 121.11%47.7%6.81%
Age-Based - Age 131.1%41.4%6.56%
Age-Based - Age 141.09%34.8%6.24%
Age-Based - Age 151.08%28.5%5.96%
Age-Based - Age 161.07%23.7%5.61%
Age-Based - Age 171.04%18.3%5.39%
Age-Based - Age 181.03%14.1%5.14%
Age-Based - Age 191%10.5%4.92%
Age-Based - Age 200.98%6.9%4.73%
Age-Based - Age 21+0.96%4.5%4.55%

Age-based/Enrollment Year investment options:

The Age-Based Asset Allocation Investment Option contains 22 portfolios: newborn through age 21+. Contributions are allocated based on the age of the beneficiary.

Static investment options:

3 goal-based options (Aggressive Growth, Growth, and Balanced), 2 Putnam Absolute Return Funds options, and 10 individual-fund options.

Underlying investments:

Mutual funds from Putnam, MFS, Principal, Federated, and State Street.

Underlying fund allocations:

Portfolio Fees & Performance Lookup

Fees & Expenses

Enrollment or application fee:

None, but contributions may be subject to a sales charge depending on share class.

Account maintenance fee:

$15 annual account maintenance fee for accounts with less than $25,000, waived for residents of Nevada, accounts in an automatic investment plan, or participants in particular corporate payroll deduction plans and affinity programs.

Program management fees:

0.10% administrative fee to the state, plus reimbursed expenses of up to 0.04%, plus distribution/servicing fees as follows:

Money Market option: None

Fixed-Income Absolute Return: 0.25% (Class A), 0.45% (Class B), 1.00% (Class C)

All other options: 0.25% (Classes A and D), 1.00% (Class B); 1.00% (Class C)

Expenses of the underlying investments:

Ranges from 0.57% to 0.77% (portfolio weighted average) in the age-based and static multi-fund portfolios, and from 0.16% to 1.05% in the individual fund portfolios.

Total asset-based expense ratio:

Class A: 0.47% - 1.44%
Class B: 0.47% - 2.19%
Class C: 0.47% - 2.19%
Class D: 0.96% - 1.18%
Class Y: 0.30% - 1.19%

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:

None

Tax deduction for joint filers:

None

Note:

Nevada doesn't offer tax deductions

Program match on contributions:

None.

State tax deduction or credit for contributions:

Not applicable. Nevada does not have a personal income tax.

Nevada employers who make a matching contribution to employees participating in a Nevada 529 college savings plan are eligible for a 25% tax credit on matched contributions up to $500 per employee per year.

State definition of qualified expenses

The state conforms with the federal definition of qualified education expenses, which includes expenses for higher education, apprenticeship programs, interest and/or principal on qualified education loans up to a $10,000 lifetime cap, and up to $10,000 per year in tuition in connection with enrollment or attendance at an elementary or secondary public, private, or religious school. Distributions from a 529 account directly to a Roth IRA are considered a qualified expense.

State tax treatment of qualified distributions:

Not applicable. Nevada does not have a personal income tax.

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

No

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 Nevada Putnam Scholarship Program was established in 2014 and provides one-time awards of up to $100 to eligible Accounts. To be eligible for an award under the scholarship, an account must meet each of the following requirements: (i) it must be owned by a Nevada resident or the beneficiary of the account must be a Nevada resident (ii) the account must have been open for at least 12 months and (iii) the account balance, excluding award amounts, must be at least $1,000. A beneficiary may only receive a maximum award of $100 under the Scholarship Program, regardless of the number of accounts opened for that Beneficiary.

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.

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

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