General InformationDownload PDF Report
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.
- Program typeSavings
- Inception2001, but substantially changed in September 2018.
- State agencyOregon 529 Savings Board, chaired by State Treasurer
- Tax deduction
- Program ManagerSumday Administration, LLC
- Program distributorSumday Administration, LLC
- Manager contract termUNLOCK PRO
Ratings & Rankings
Our overall rating for non-residents
This is a program that offers outstanding flexibility, attractive investments, and additional economic benefits (such as generous state tax incentives) that for some people, at least, will provide a substantial boost to their savings. There are few, if any, weaknesses noted in the program.
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 at least 18 years old, emancipated minors, UGMA/UTMA custodians, and legal entities.
Significant time or age restrictions imposed by the program:None.
Alternative 529 Plans
Other great plans you should consider
You are not limited to opening your own state's 529 plan, so shop around. We encourage you to consider the highly rated options below:
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.
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:UNLOCK PRO
Portfolio Fees & Performance LookupUNLOCK PRO
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$2,435/yr
- Tax deduction for joint filers$4,865/yr
Married filing jointly residents contributing $100/month can expect an additional $0 a year in tax savings.