General InformationDownload PDF Report
CollegeBound 529 (Advisor-sold)
Rhode Island's CollegeBound 529 savings program is managed by Ascensus College Savings with Invesco Advisors, Inc. as investment manager. The plan is sold through brokers (unit classes A and C) and registered investment advisors (unit class I). Rhode Island residents purchasing through advisors can use lower-cost classes RA and RZ. The program features a menu of age-based and static portfolio options utilizing Invesco funds. Accounts can be linked to the Upromise rewards service. To find a financial advisor in your area, use the Directory of Financial Professionals.
- Program typeSavings
- Inception1998, substantially changed in 2016.
- State agencyGeneral Treasurer of Rhode Island
- Tax deduction
- Program ManagerAscensus College Savings
- Program distributorInvesco Distributors
- Manager contract termUNLOCK PRO
Ratings & Rankings
Our overall rating for non-residents
This is a recent program and does not yet have a 5-Cap Rating assigned.
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 legal entities.
Significant time or age restrictions imposed by the program:None
Maximum contributions:Accepts contributions until all account balances in Rhode Island's 529 plan for the same beneficiary reach $395,000.
Age-based investment options:The Age-Based Portfolios option contains 11 age bands corresponding to expected dated of college enrollment. The asset mix (or allocation) of the Age-Based Portfolios shifts to a more conservative investment allocation over time.View more age-based investment options
Static investment options:Select among three Target-Risk Portfolios (Growth, Moderate and Conservative), and 11 individual-fund portfolios.View more static investment options
Underlying investments:Invesco mutual funds and ETFs.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:$20 annually for accounts with less than $25,000, waived for Rhode Island residents, and for accounts in the automatic contribution plan.
Program management fees:0.17% (includes 0.02% state administrative fee), plus distribution/servicing fee of 0.25% (Class A), 1.00% (Class and C), or 0.00% (Class I). None for Class RA.
Expenses of the underlying investments:Ranges from 0.39% to 0.50% in the age-based and target-risk portfolios (portfolio weighted average), and from 0.16% to 0.90% in the individual-fund portfolios.
Total asset-based expense ratio:Class A: 0.58% - 1.32%
Class C: 1.33% - 2.07%
Class RA (RI-resident): 0.41% - 1.15%
Class RZ (RI-resident): 0.16% - 0.90%
Class I: 0.33% - 1.06%
Broker loads and commissions:UNLOCK PRO
Breakpoint pricing:UNLOCK PRO
Does breakpoint pricing include non-529 assets under rights of accumulation policiesUNLOCK PRO
Taxes and other Benefits
- Tax deduction for single filers$500/yr
- Tax deduction for joint filers$1,000/yr
Married filing jointly residents contributing $100/month can expect an additional $0 a year in tax savings.