General InformationDownload PDF Report
USAA 529 College Savings Plan
Nevada's USAA 529 College Savings Plan is available to the general public and features age-based and static porfolio options utilizing USAA mutual funds. Accounts can be linked to the Upromise rewards service.
- Program typeSavings
- State agencyBoard of Trustees of the College Savings Plans of Nevada
- Tax deductionTax deduction for single filers NoneTax deduction for joint filers None
- Program ManagerAscensus College Savings
- Program distributorUSAA Investment Management Company (USAA)
- Manager contract termUNLOCK PRO
Ratings & Rankings
Our overall rating for non-residents
This is a very good program that offers valuable benefits but may have some limitations or concerns that investors need to know.
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, UGMA/UTMA custodians, and trusts.
Significant time or age restrictions imposed by the program:None
Maximum contributions:Accepts contributions until all account balances in Nevada's 529 plans for the same beneficiary reach $370,000.
Minimum contributions:The initial contribution is $50 with the establishment of an automatic investment plan of at least $50 per month or $150 per quarter ($15 for contributions through Ugift), or $250 lump-sum contribution.
Age-based investment options:The Age-Based Option contains 9 portfolios of underlying mutual funds. Contributions are placed into the portfolio corresponding to the age of the beneficiary, and later reassigned to more conservative portfolios as the beneficiary approaches college age.View more age-based investment options
Static investment options:Select among 10 Fixed Allocation portfolios (Very Aggressive, Aggressive Growth, Growth, Moderately Aggressive, Moderate, Moderately Conservative, Conservative, Very Conservative and In-College) and a money-market portfolio (Preservation of Capital).View more static investment options
Underlying investments:USAA mutual 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:$10 annual minimum balance fee for accounts with a balance of less than $1,000 that do not have automatic deposit; waived for Nevada residents.
Program management fees:0.13%
Expenses of the underlying investments:Not applicable., 0.39% to 0.95%.
Total asset-based expense ratio:0.39% to 1.08%
Taxes and other Benefits
- Tax deduction for single filersNone
- Tax deduction for joint filersNone
Nevada doesn't offer tax deductions
Program match on contributions:The USAA Distinguished Valor Matching Grant Program matches up to a lifetime maximum of $1,500 of contributions to this 529 plan with an annual maximum match of $300. The account owner or the beneficiary must be a Nevada resident at the time the grant application is submitted. Grant applicants may apply under two categories: 1) the account owner must serve currently on active duty in the U. S. military and have an adjusted gross household income of less than $95,000, and the beneficiary must be a child of the Account Owner and be under the age of 13, or 2) the account owner or the account owner's spouse must be the recipient of a Purple Heart in either Operation Enduring Freedom or Iraqi Freedom (service beginning October 7, 2001 and ending August 31, 2010), and the beneficiary must be a child or the spouse of the Purple Heart recipient.
State tax deduction or credit for contributions:Not applicable. Nevada does not have a personal income tax.
State definition of qualified expensesThe 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 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:UNLOCK PRO
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