The West Virginia SMART529 WV Direct College Savings Plan, available on a direct basis to those who meet certain West Virginia residency requirements, features a menu of age-based and static portfolio options utilizing index funds from Vanguard as well as an Invesco stable value portfolio option. Accounts can be linked to the Upromise rewards service.
- Program typeSavings
- State agencyState Treasurer's Office under the authority of the West Virginia College and Jumpstart Savings Program Board of Trustees
- Tax deduction
- Program ManagerHartford Funds Management Company, LLC
- Program distributorHartford Funds Distributors, LLC
Ratings & Rankings
Our overall rating for WV 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 program is not open to you either because it has residency requirements or because it has stopped accepting new enrollments.
State residency requirements:
Who can be a participant/owner in the program?
Significant time or age restrictions imposed by the program:
Alternative 529 Plans
Other great plans to consider
You are not limited to opening your own state's 529 plan, so shop around. Here are some highly rated options to consider:
Does the program offer an e-gifting platform for receiving gift contributions?
Age-based/Enrollment Year 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
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Fees & Expenses
Enrollment or application fee:
Account maintenance fee:
Program management fees:
Expenses of the underlying investments:
Total asset-based expense ratio:
Taxes and other Benefits
- Tax deduction for single filersNo limit
- Tax deduction for joint filersNo limit
Married filing jointly residents contributing $100/month can expect an additional $0 a year in tax savings.
Program match on contributions:
State tax deduction or credit for contributions:
State tax recapture provisions:
State definition of qualified expenses
State tax treatment of qualified distributions:
State tax treatment of rollovers:
Does the sponsoring state exclude the value of an account for state financial aid purposes?
Does participation in the program provide beneficiaries with any advantages in qualifying for resident tuition status at state institutions?
Is there a rewards program or outside scholarship program that works with this program?
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