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BlackRock CollegeAdvantage Advisor 529 Savings Plan

4.5 / 5

Our rating

Good OH resident benefits

OH resident benefits

The Ohio BlackRock CollegeAdvantage 529 Plan is an advisor-sold 529 savings program offering seven target date investment options, three target-risk options, and 24 single-fund options featuring BlackRock mutual funds, iShares exchange-traded funds, and other fund families. To find a financial advisor in your area, use the Directory of Financial Professionals.

BlackRock CollegeAdvantage Advisor 529 Savings PlanTop of the Class

KEY METRICS

OVERVIEW

Program type

Savings

Inception

2009

State agency

Ohio Tuition Trust Authority, an office within the Ohio Department of Higher Education

Tax deduction

For single filers: $4,000/yr per beneficiary

For joint filers: $4,000/yr per beneficiary

Program manager

BlackRock Advisors, LLC

Program distributor

BlackRock Investments, LLC

Manager contract term

MORE INFORMATION

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 Ohio's 529 plans for the same beneficiary reach $541,000.

Minimum contributions:

The minimum initial contribution is $25 per investment option and the minimum subsequent contribution is $25.

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 BlackRock CollegeAdvantage Advisor 529 Savings Plan can select from the following investment options. Click on a portfolio name for more information.

Seven Target Date Investment Options are offered. Contributions are placed into the portfolio corresponding to the age of the beneficiary assuming that the year of enrollment is the year the beneficiary will reach the age of eighteen. The portfolios shift to a more conservative investment allocation over time.
PortfolioE.R. % Equity1yr performance
BlackRock College Enrollment Option0.64%12.5%5.31%
BlackRock College 2027 Option0.71%55.2%5.86%
BlackRock College 2032 Option0.72%68.4%6.21%
BlackRock College 2035 Option0.71%77.5%6.45%
BlackRock College 2038 Option0.7%87.7%6.57%
BlackRock College 2041 Option0.7%90.1%6.93%
BlackRock College 2044 Option0.66%60.35%N/A

Age-based/Enrollment Year investment options:

Seven Target Date Investment Options are offered. Contributions are placed into the portfolio corresponding to the age of the beneficiary assuming that the year of enrollment is the year the beneficiary will reach the age of eighteen. The portfolios shift to a more conservative investment allocation over time.

Static investment options:

Select among 3 Target-Risk Investment Options (Aggressive Growth, Growth and Moderate) and 18 Single Strategy Investment Options, including 9 equity portfolios, two balanced portfolios, 5 fixed income portfolios, and a money market portfolio.

Underlying investments:

Mutual funds from BlackRock and iShares ETFs.

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:

$25 annually; waived if account owner is a resident of Ohio, the balance of all accounts with the same beneficiary is $25,000 or more, the balance of all accounts is $25,000 or more, or the account owner makes periodic contributions via Automatic Investment Plan or payroll deduction.

Program management fees:

0.135% (includes 0.07% fee to the state), plus distribution/servicing fees of 0.25% (Class A) or 1.00% (Class C except 0.25% for the Money Market Option), 0.00% (Class I)

Expenses of the underlying investments:

Ranges from 0.03% to 0.86%.

Total asset-based expense ratio:

Class A: 0.42% - 1.25%
Class C: 0.49% - 2.00% Class I: 0.17% - 1.00%

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:

$4,000/yr per beneficiary

Tax deduction for joint filers:

$4,000/yr per beneficiary

Program match on contributions:

None.

State tax deduction or credit for contributions:

Contributions, including rollover contributions, to an Ohio and non-Ohio 529 plans of up to $4,000 per beneficiary per year (any filing status) are deductible in computing Ohio taxable income, with an unlimited carryforward of excess contributions. Contribution deadline is December 30.

Calculate your Ohio 529 tax benefit

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

Your tax savings per year
$0

Household income

$100,000

Monthly Contribution

$100

State tax recapture provisions:

Any rollover withdrawal to another state's 529 Plan is subject to recapture of any State of Ohio tax deductions claimed in prior years.

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 for state income tax purposes.

State tax treatment of qualified distributions:

Qualified distributions from Ohio and non-Ohio 529 plans are exempt. Ohio also exempts distributions from a Ohio 529 plan attributable to the beneficiary's death, disability, or receipt of a scholarship.

State tax treatment of rollovers:

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

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 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.BlackRock.com/CollegeAdvantage

Telephone:

1-866-529-8582

Telephone for broker use:

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