Florida 529 Savings Plan NEW! PDF ReportPRO


Florida 529 Savings Plan - Instead of utilizing mutual funds, the Florida Prepaid College Board hires various money management firms to manage the separate investment pools, which are available as either static portfolios or as part of an age-based strategy.

5-Cap Rating


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. (Scale 0 to 5; 5 is highest)

Performance Costs Features Reliability Resident Upgrade
3.81 2.69 3.07 3.42 0.00


Program type:


How to enroll:

Enroll directly with the program.

Initial year of operation:


State agency(ies):

Florida Prepaid College Board

Program manager:

Florida Prepaid College Board

Program distributor:

Not applicable

Manager contract term:

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State residency requirements:


Who can be a participant/owner in the program?

U.S. citizens and resident aliens at least 18 years old, UGMA/UTMA custodians, and legal entities organized in the U.S.

Significant time or age restrictions imposed by the program:



Maximum contributions:

Accepts contributions until all account balances in Florida's 529 plans for the same beneficiary reach $418,000.

Minimum contributions:

No minimum contribution. With the automatic investment plan, the minimum contribution level is $25 per month.

Investment Options

Age-based investment options:

The Age-Based / Years-To-Enrollment Option contains 5 age bands with each band targeting a different allocation between the Fixed Income portfolio and the Blended Equity portfolio. Contributions are invested based on the assignment of the beneficiary to one of the five age bands.

Static investment options:

Select from two investment portfolios (Blended Equity and Balanced Portfolios) and 8 single investment funds (Money Market Fund, Fixed Income Fund, Domestic Equity Index Fund, Large Cap Growth Fund, Large Cap Value Fund, Mid Cap Fund, Small Cap Fund, and International (Developed Markets) Fund).

Underlying investments:

Investment portfolios separately managed by Columbia Threadneedle Investments; AllianceBernstein LP, Quantitative Management Associates, LLC (QMA); The Boston Company Asset Management, LLC; BMO Global Asset Management, Fiduciary Management, Inc.; PanAgora Asset Management, Inc. and Federated Investors, Inc.

Underlying fund allocations:

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Portfolio Fees & Performance Lookup

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See Investment Options

Fees & Expenses

Enrollment or application fee:


Account maintenance fee:


Program management fees:

0.39% - 0.75% management fee (None for Money Market option); fee includes underlying investment manager fees.

Expenses of the underlying investments:

Not applicable, included in the program management fee.

Total asset-based expense ratio:

0.39% - 0.75% management fee (None for Money Market option)

Taxes and other Benefits

Program match on contributions:


State tax deduction or credit for contributions:

Not applicable. Florida 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. Florida does not have a personal income tax.

State tax treatment of rollovers:

Florida does not have a personal income tax.

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?


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


Statutory protection of an account from creditors:

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Distributions & Terminations

To whom are distributions made payable:

Eligible educational institution, beneficiary, or account owner, 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?


Can the complete enrollment process including funding be done online?


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

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