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Putnam 529 for America

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.

Our Ratingx

4.5 of 5

Fee Scorex

3.5 of 5

Performancex

5 of 5

  • Program typeSavings
  • Inception2010
  • State agency
    Board of Trustees of the College Savings Plans of Nevada
  • Tax deduction
    Tax deduction for single filers None
    Tax deduction for joint filers None
  • Program Manager
    Putnam Investment Management, LLC
  • Program distributor
    Putnam Retail Management
  • Manager contract termUNLOCK PRO

Ratings & Rankings

Our overall rating for NV 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.

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.

Savingforcollege.com's 5-Cap Ratings provides an evaluation and comparison of 529 plans, utilizing a formula that examines dozens of factors grouped into the following categories.


4.38of 5
top-ten

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.

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 $370,000.

Minimum contributions:

$25 minimum initial contribution, currently being waived.

Investment Options

Age-based 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.View more age-based investment options

Static investment options:

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

Underlying investments:

Mutual funds from Putnam, MFS, Principal, Federated, and State Street.View a full list of this plan's investment options

Underlying fund allocations:

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Portfolio Fees & Performance Lookup

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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 0.79% (portfolio weighted average) in the age-based and static multi-fund portfolios, and from 0.16% to 0.96% in the individual fund portfolios.

Total asset-based expense ratio:

Class A: 0.55% - 1.35%
Class B: 0.68% - 2.10%
Class C: 1.68% - 2.10%
Class D: 0.96% - 1.18%

Broker loads and commissions:

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Breakpoint pricing:

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Taxes and other Benefits

  • Tax deduction for single filersNone
  • Tax deduction for joint filersNone

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.

State definition of qualified expenses

The state conforms with the federal definition of qualified education expenses, which includes expenses for higher education, as well as up to $10,000 per year in tuition in connection with enrollment or attendance at an elementary or secondary public, private, or religious school.

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

Does the program have a formal agreement with a rewards program or outside scholarship 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, (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.

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.

Upromise Helps Families Save for College

Upromise Helps Families Save for College

Statutory protection of an account from creditors:

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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:

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Contact

Website:

https://www.putnam.com/individual/college-savings/

Telephone:

1-877-788-6265

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