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Oregon College Savings Plan

Sumday Administration, LLC succeeded TIAA-CREF as program manager of the Oregon College Savings Plan on September 10, 2018. The plan features enrollment-based and static portfolio options utilizing mutual funds from a variety of fund families and an FDIC-Insured Option.

Our Ratingx

4 of 5

Fee Scorex

4 of 5

Performancex

N/A

  • Program typeSavings
  • Inception2001, but substantially changed in September 2018.
  • State agency
    Oregon 529 College Savings Board, chaired by State Treasurer
  • Tax deduction
    Tax deduction for single filers $2,375/yr
    Tax deduction for joint filers $4,750/yr
  • Program Manager
    Sumday Administration, LLC
  • Program distributor
    Sumday Administration, LLC
  • Manager contract termUNLOCK PRO

Ratings & Rankings

Our overall rating for OR 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.


2.69of 5

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 at least 18 years old, emancipated minors, UGMA/UTMA custodians, and legal entities.

Significant time or age restrictions imposed by the program:

None.

Contributions

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 and subsequent contribution is $25 per investment portfolio. Subsequent contributions must be at least $5 per investment portfolio. With the automatic investment plan, the minimum contribution level is $5 per month. With automatic payroll deductions, the minimum contribution level is $5 per investment portfolio per pay period.

Investment Options

Age-based investment options:

The College Enrollment Year Investment Option offers portfolios designed for the anticipated year of enrollment at college in one-year increments. In each portfolio, investments are moved automatically to progressively more conservative investments as the beneficiary approaches the targeted year of college enrollment. Each portfolio invests in one or more underlying funds managed by Dimensional Funds or Vanguard.View more age-based investment options

Static investment options:

Select among 9 multi-fund portfolios, 4 single-fund portfolios, and the FDIC-Insured Option.View more static investment options

Underlying investments:

American Beacon, Champlain, Dimensional Funds, DoubleLine, LSV, Met Vest, TIAA, T. Rowe Price, and Vanguard.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.

Account maintenance fee:

None.

Program management fees:

0.25% state administrative fee

Expenses of the underlying investments:

Ranges from 0.02% to 0.47% (portfolio weighted average). None for the FDIC-Insured Option.

Total asset-based expense ratio:

0.25% - 0.716%

Taxes and other Benefits

  • Tax deduction for single filers$2,375/yr
  • Tax deduction for joint filers$4,750/yr

Example

Married filing jointly residents contributing $100/month can expect an additional $0 a year in tax savings.

Program match on contributions:

None

State tax deduction or credit for contributions:

Contributions to an Oregon 529 plan of up to $2,375 by an individual, and up to $4,750 by a married couple filing jointly, are deductible in computing Oregon taxable income, with a four-year carryforward of excess contributions. The limits are to be adjusted each year for inflation. Contribution deadline is December 31.

State tax recapture provisions:

The principal portion of nonqualified withdrawals from this plan are included in Oregon taxable income to the extent of prior Oregon tax deductions. Rollovers are not subject to recapture. K-12 distributions will be subject to state tax recapture if a deduction is claimed. Tax deductions received on K-12 withdrawals will be calculated into the amount owed the state for the current tax year. Also, any earnings tied to the K-12 withdrawal will count also as state taxable income.

State definition of qualified expenses

The state's definition of qualified education expenses currently includes expenses for attendance at an institution of higher education as defined by the Internal Revenue Code and its regulations addressing qualified state tuition programs. This does not include tuition for elementary or secondary education.

State tax treatment of qualified distributions:

Qualified distributions from Oregon and non-Oregon 529 plans are exempt.

State tax treatment of rollovers:

Oregon follows federal tax-free treatment.

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.

Upromise Helps Families Save for College

Upromise Helps Families Save for College

Statutory protection of an account from creditors:

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Want to Boost your Savings?

You could be saving more with gifts from family and friends. CollegeBacker makes it easy to start a 529 plan, and then invite others to contribute for birthday parties, holidays, or even on a monthly basis.

Start saving with family and friends

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?

Yes

Documents and other services accessible or downloadable on the program's public Web site:

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Contact

Website:

http://www.oregoncollegesavings.com

Telephone:

1-866-772-8464

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