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CollegeAccess 529 (Direct-sold)

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.

Our Ratingx

Fee Scorex

4.5 of 5

Performancex

1 of 5

  • Program typeSavings
  • Inception2002
  • State agency
    South Dakota Investment Council
  • Tax deduction
    Tax deduction for single filers None
    Tax deduction for joint filers None
  • Program Manager
    Allianz Global Investors Distributors LLC
  • Program distributor
    Allianz Global Investors Distributors LLC
  • Manager contract termUNLOCK PRO

Ratings & Rankings

Our overall rating for SD residents

This is a very good program that offers valuable benefits but may have some limitations or concerns that investors need to know.

Our overall rating for non-residents

This program is not open to you either because it has residency requirements or because it has stopped accepting new enrollments.

Savingforcollege.com's 5-Cap Ratings provides an evaluation and comparison of 529 plans, utilizing a formula that examines dozens of factors grouped into the following categories.


2.15of 5

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.

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

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.

Investment Options

Age-based 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.View more age-based investment options

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.View more static investment options

Underlying investments:

Allianz, Boston Company, Franklin Templeton, Voya, NFJ, PIMCO, Royce, Thornburg, and TIAA-CREF.View a full list of this plan's investment options

Underlying fund allocations:

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Portfolio Fees & Performance Lookup

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Fees & Expenses

Enrollment or application fee:

None.

Account maintenance fee:

None.

Program management fees:

None

Expenses of the underlying investments:

Ranges from 0.46% to 0.54% (portfolio weighed average) in the age-based and static portfolios, and 0.64% to 0.93% 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:

0.46% - 0.93%

Taxes and other Benefits

  • Tax deduction for single filersNone
  • Tax deduction for joint filersNone

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, as well as up to $10,000 per year in tuition in connection with enrollment or attendance at an elementary or secondary public, private, or religious school.

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

Does the program have a formal agreement with a rewards program or outside scholarship 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.

Upromise Helps Families Save for College

Upromise Helps Families Save for College

Statutory protection of an account from creditors:

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Want to Boost your Savings?

You could be saving more with gifts from family and friends. CollegeBacker makes it easy to start a 529 plan, and then invite others to contribute for birthday parties, holidays, or even on a monthly basis.

Start saving with family and friends

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:

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Contact

Website:

http://www.collegeaccess529.com/pages/Home_DirectInvestors.aspx

Telephone:

1-866-529-7462