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CollegeAccess 529 (Advisor-sold)

3.5 / 5

Our rating

Good SD resident benefits

SD resident benefits

The South Dakota CollegeAccess 529 advisor-sold only plan offers age-based, static asset allocation, and individual fund portfolio options utilizing a large array of investment managers including Virtus Fund Advisers, American Funds, DFA, Dodge & Cox, Metropolitan West, Parametric, PIMCO and TIAA-CREF. To find a financial advisor in your area, use the Directory of Financial Professionals.

CollegeAccess 529 (Advisor-sold)

KEY METRICS

OVERVIEW

Program type

Savings

Inception

2002

State agency

South Dakota Investment Council

Tax deduction

For single filers: None

For joint filers: None

Program manager

VP Distributors LLC

Program distributor

VP Distributors LLC

Manager contract term

MORE INFORMATION

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 (individually or as joint owners), 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 South Dakota's 529 plan for the same beneficiary reach $350,000.

Minimum contributions:

With lump-sum contributions, the minimum initial contribution is $1,000 ($250 per investment option), and the minimum subsequent contribution is $50 per investment option. With the automatic investment plan, the minimum initial contribution is $50 and the minimum subsequent contribution level is $50 per month.

Does the program offer an e-gifting platform for receiving gift contributions?

This plan does not offer an online gifting portal allowing for easy sharing but may offer gift certificates or allow mail-in gift contributions.

Investment Options

Investors in CollegeAccess 529 (Advisor-sold) can select from the following investment options. Click on a portfolio name for more information.

The Age-Based Option consists of 9 portfolios of underlying mutual funds. Contributions are placed into the portfolio corresponding to the age of the beneficiary or the anticipated years to matriculation, and later reassigned to more conservative portfolios as the beneficiary approaches college age.
PortfolioE.R. % Equity1yr performance
Age-Based 3 (Age 11)1.11%70%4.89%
Age-Based 4 (Age 12)1.09%60%4.78%
Age-Based 6 (Age 14)1.02%40%4.89%
Age-Based 7 (Age 15)1%29.5%4.89%
Age-Based 10 (Ages 19 and over)0.95%N/AN/A
Age-Based 1 (Ages 0-9) (previously Age-Based 0-6)1.16%76%4.81%
Age-Based 2 (Ages 10) (previously Age-Based 7-10)1.14%66.5%4.82%
Age-Based 5 (Age 13) (previously Age-Based 11-14)1.05%38%4.84%
Age-Based 8 (Age 16) (previously Age-Based 15-17)0.99%10%5.24%
Age-Based 9 (Ages 17-18) (previously Age-Based 18+)0.98%6%5.34%

Age-based/Enrollment Year investment options:

The Age-Based Option consists of 9 portfolios of underlying mutual funds. Contributions are placed into the portfolio corresponding to the age of the beneficiary or the anticipated years to matriculation, and later reassigned to more conservative portfolios as the beneficiary approaches college age.

Static investment options:

Select among 3 multi-fund portfolios (Diversified Equity, Diversified Bond, and Ultrashort Bond) and 12 individual fund portfolios.

Underlying investments:

Virtus Investment Partners, American Funds, AllianceBernstein, DFA, Dodge & Cox, Metropolitan West, Morgan Stanley, Parametric, PIMCO and TIAA-CREF.

Underlying fund allocations:

Portfolio Fees & Performance Lookup

Fees & Expenses

Enrollment or application fee:

None, but contributions may be subject to a sales charge depending on share class.

Account maintenance fee:

$20, payable on or about December 15, based on the previous business day's assets. The fee is waived for participants with an automatic investment plan, accounts where a common owner has accounts aggregating over $20,000 of value, and for South Dakota residents.

Program management fees:

0.25% manager fee (waived for SD residents), plus distribution/servicing fees of 0.35% (Classes A and SD-A), 1.10% (Class C), none (Class F) or 1.00% (Class SD-C). Distribution/servicing fees for PIMCO Short Asset Investment & Ultrashort Bond portfolios: 0.10%

Expenses of the underlying investments:

Ranges from 0.35% to 0.56% (portfolio weighted average) in the age-based, 0.30% to 0.60% in the static multi-fund portfolios, and 0.30% to 0.87% in the individual-fund portfolios.

Total asset-based expense ratio:

Class A: 0.65% - 1.47%
Class C: 0.65% - 2.22%
Class F: 0.30% - 1.12%
Class SD-A: 0.40% - 1.22%
Class SD-C: 0.40% - 1.87%

Broker loads and commissions:

Breakpoint pricing:

Does breakpoint pricing include non-529 assets under rights of accumulation policies

Taxes and other Benefits

Tax deduction for single filers:

None

Tax deduction for joint filers:

None

Note:

South Dakota doesn't offer tax deductions

Program match on contributions:

None.

State tax deduction or credit for contributions:

Not applicable. South Dakota does not have a personal income tax.

State definition of qualified expenses

The state conforms with the federal definition of qualified education expenses, which includes expenses for higher education, apprenticeship programs, interest and/or principal on qualified education loans up to a $10,000 lifetime cap, and up to $10,000 per year in tuition in connection with enrollment or attendance at an elementary or secondary public, private, or religious school. Distributions from a 529 account directly to a Roth IRA are considered a qualified expense.

State tax treatment of qualified distributions:

Not applicable. South Dakota does not have a personal income tax.

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

Is there a rewards program or outside scholarship program that works with this 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.

Statutory protection of an account from creditors:

Distributions & Terminations

To whom are distributions made payable:

Account owner, beneficiary, eligible educational institution, or third-party, 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?

No

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

Contact

Website:

https://www.collegeaccess529.com/landing?type=investors

Telephone:

1-866-529-7462

Telephone for broker use:

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