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
Ratings & Rankings
Our overall rating for RI 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.
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:
Who can be a participant/owner in the program?
Significant time or age restrictions imposed by the program:
Age-based investment options:View more age-based investment options
Static investment options:View more static investment options
Underlying investments:View a full list of this plan's investment options
Underlying fund allocations:
Portfolio Fees & Performance Lookup
Fees & Expenses
Enrollment or application fee:
Account maintenance fee:
Program management fees:
Expenses of the underlying investments:
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Broker loads and commissions:
Does breakpoint pricing include non-529 assets under rights of accumulation policies
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.