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CollegeAccess 529 (Direct-sold)

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Good SD resident benefits

SD resident benefits

South Dakota's CollegeAccess 529 (Direct-sold) program is available only to those who meet certain South Dakota residency requirements, this 529 savings program features an age-based option, one fixed income static portfolio and two single fund portfolios.

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CollegeAccess 529 (Direct-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:

The account owner or designated beneficiary must be a South Dakota resident at the time of program enrollment.

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

Did you know?

  • 529 plan contributions grow tax-free.

    Withdrawals are tax-free when used to pay for qualified higher education expenses.

  • You can contribute as much as you want, as often as you want.

    The key is to get started. Enroll today by completing a quick form online.

CollegeAccess 529 (Direct-sold)
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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 $250 per investment option, and the minimum subsequent contribution is $50 per investment option. With the automatic investment plan, the minimum contribution level is $50 per investment option 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 (Direct-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)0.42%56.5%5.49%
Age-Based 4 (Age 12)0.41%47%5.47%
Age-Based 6 (Age 14)0.37%29%5.56%
Age-Based 7 (Age 15)0.37%18.5%5.51%
Age-Based 1 (Ages 0-8) (previously Age-Based 0-6)0.43%76%5.45%
Age-Based 2 (Ages 9-10) (previously Age-Based 7-10)0.42%66.5%5.42%
Age-Based 5 (Age 13) (previously Age-Based 11-14)0.39%38%5.51%
Age-Based 8 (Age 16) (previously Age-Based 15-17)0.36%10%5.84%
Age-Based 9 (Ages 17 and Over) (previously Age-Based 18+)0.35%6%6.03%

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:

A multi-fund portfolio called the Diversified Bond Portfolio and 2 individual-fund portfolios, one invested in the PIMCO Real Return Fund, and one invested in the PIMCO All Asset Fund.

Underlying investments:

Virtus Investment Partners, American Funds, DFA, Dodge & Cox, Metropolitan West, PIMCO and TIAA.

Underlying fund allocations:

Portfolio Fees & Performance Lookup

Fees & Expenses

Enrollment or application fee:

None.

Account maintenance fee:

None.

Program management fees:

None

Expenses of the underlying investments:

Ranges from 0.35% to 0.43% (portfolio weighed average) in the age-based and static portfolios, and 0.51% to 1.865% in the individual-fund portfolios. The program manager reimburses the investment portfolio to the extent the weighted average expense of the portfolio exceeds 0.65%.

Total asset-based expense ratio:

0.35% - 1.865%

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 tax recapture provisions:

N/A

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:

Did you know?

  • Residents are not limited to investing in their own state's 529 plan.

    Another state may offer a plan that performs better and has lower fees.

  • The 529 plan chosen does not affect which state the student enrolls in.

    You can live in New York, open a plan from Nevada and send a student to college in Florida.

  • The best way to maximize your college savings?

    Start early and save often. You can get started today with easy online enrollment.

CollegeAccess 529 (Direct-sold)
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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=directinvestors

Telephone:

1-866-529-7462

Start saving for your child's future today

Complete the online application and make your first deposit

CollegeAccess 529 (Direct-sold)
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Enroll Now Count19,870 Clicked to Enroll

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