General InformationDownload PDF Report
MFS 529 Savings Plan
Oregon's MFS 529 Savings Plan, an advisor-sold 529 savings program features age-based and static portfolio options utilizing MFS mutual funds. To find a financial advisor in your area, use the Directory of Financial Professionals.
- Program typeSavings
- State agencyOregon 529 Savings Board, chaired by State Treasurer
- Tax deductionTax deduction for single filers $2,375/yrTax deduction for joint filers $4,750/yr
- Program ManagerMFS Fund Distributors, Inc.
- Program distributorMFS Fund Distributors, Inc.
- Manager contract termUNLOCK PRO
Ratings & Rankings
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.
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 of legal age, UGMA/UTMA custodians, and legal entities. An account owner must be a U.S. resident with a U.S. address.
Significant time or age restrictions imposed by the program:None.
Maximum contributions:Accepts contributions until all account balances in the program for the same beneficiary reach $400,000.
Minimum contributions:With lump-sum contributions, the minimum initial contribution is $250. There is no minimum for subsequent contributions or for contributions into the automatic contribution plan.
Age-based investment options:The Age-Based Investment Option contains 6 portfolios of underlying mutual funds. 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 5 multi-fund options (Aggressive Growth, Growth, Moderate, Conservative andand Lifetime Income) and 14 individual-fund options.View more static investment options
Underlying investments:MFS 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, but contributions may be subject to a sales charge depending on share class.
Account maintenance fee:$25 annually for accounts with less than $25,000, waived for Oregon residents.
Program management fees:0.05 program management fee, plus distribution/servicing fees of 0.25% (Class 529A) or 1.00% (Classes 529B and 529C).
Expenses of the underlying investments:Ranges from 0.40% to 0.72% in the age-based and static multi-fund portfolios (portfolio weighted averages), and from 0.33% to 0.89% in the individual-fund portfolios. Waivers are in effect with end dates ranging from August 2018 to August 2019.
Total asset-based expense ratio:Class A: 0.71% - 1.38%
Class B: 1.53% - 2.15%
Class C: 1.53% - 2.15%
Broker loads and commissions:UNLOCK PRO
Breakpoint pricing:UNLOCK PRO
Taxes and other Benefits
- Tax deduction for single filers$2,375/yr
- Tax deduction for joint filers$4,750/yr
Married filing jointly residents contributing $100/month can expect an additional $0 a year in tax savings.