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General Information
SMART529 WV Direct College Savings Plan
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.
Our Ratingix
5 of 5
Fee Scoreix
4.5 of 5
Performanceix
5 of 5
- Program typeSavings
- Inception2002
- 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 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.
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.
5.00of 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:
Who can be a participant/owner in the program?
Significant time or age restrictions imposed by the program:
Alternative 529 Plans
Contributions
Maximum contributions:
Minimum contributions:
Does the program offer an e-gifting platform for receiving gift contributions?
Investment Options
Age-based/Enrollment Year investment options:
View more age-based investment optionsStatic investment options:
View more static investment optionsUnderlying investments:
View a full list of this plan’s investment optionsUnderlying fund allocations:
Portfolio Fees & Performance Lookup
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
Example
Married filing jointly residents contributing $100/month can expect an additional $0 a year in tax savings.