Compare 529 Plans

Summary

The Ohio BlackRock CollegeAdvantage 529 Plan is an advisor-sold 529 savings program offering seven target date investment options, three target-risk options, and 17 single-fund options featuring BlackRock mutual funds, iShares exchange-traded funds, and other fund families.

The investment menu in Ohio's 529 Plan, CollegeAdvantage, features 2 age-based options and 5 risk-based options using Vanguard funds, 13 static investment options using Vanguard and DFA funds, and 2 types of FDIC-insured deposit accounts through Fifth Third Bank, National Association. Accounts can be linked to the Upromise rewards service.

Program type

Savings

Savings

How to enroll

Enroll through a financial advisor.

Enroll directly with the program.

Initial year of operation

2009

2000

State agency(ies)

Ohio Tuition Trust Authority, an office within the Ohio Department of Higher Education

Ohio Tuition Trust Authority, an office within the Ohio Department of Higher Education

Program manager

BlackRock Advisors, LLC

Ohio Tuition Trust Authority

Program distributor

BlackRock Investments, LLC

Ohio Tuition Trust Authority

State residency requirements

None

None

Who can be a participant/owner in the program?

U.S. citizens and resident aliens, UGMA/UTMA custodians, trusts, and 501(c)(3) organizations.

U.S. citizens and resident aliens, UGMA/UTMA custodians, trusts, and 501(c)(3) organizations.

Significant time or age restrictions imposed by the program

None

None

Maximum contributions

Accepts contributions until all 529 account balances in Ohio's 529 plans for the same beneficiary reach $501,000.

Accepts contributions until all 529 account balances in Ohio's 529 plans for the same beneficiary reach $517,000.

Minimum contributions

The minimum initial contribution is $25 per investment option and the minimum subsequent contribution is $25.

$25 ($500 for the Fifth Third Bank CD option).

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.

This plan does not offer an online gifting portal allowing for easy sharing but may offer gift certificates or allow mail-in gift contributions.

Age-based/Enrollment Year investment options

Seven Target Date Investment Options are offered. Contributions are placed into the portfolio corresponding to the age of the beneficiary assuming that the year of enrollment is the year the beneficiary will reach the age of eighteen. The portfolios shift to a more conservative investment allocation over time.

2 separate age-based options are offered. The Advantage Age-Based Option invests in 11 enrollment-based portfolios and the Vanguard Ohio Target Enrollment option offers 11 portfolios. Both options invest in funds from Vanguard and DFA.

Static investment options

Select among 3 Target-Risk Investment Options (Aggressive Growth, Growth and Moderate) and 17 Single Strategy Investment Options, including 9 equity portfolios, two balanced portfolios, 5 fixed income portfolios, and a money market portfolio.

The Vanguard investment options consist of 5 multi-fund portfolios and 13 individual-fund portfolios. The Fifth Third Bank, National Association options consist of certificates of deposit and a savings account. The remaining options include an equity fund and a bond fund from DFA.

Underlying investments

Mutual funds from BlackRock, Voya, Wells Fargo and iShares ETFs.

Vanguard and DFA mutual funds; certificates of deposit and savings accounts from Fifth Third Bank, National Association.

Are program benefits backed by the full faith and credit of the state?

--

No

Enrollment or application fee

None, but contributions may be subject to a sales charge depending on share class.

None.

Account maintenance fee

$25 annually; waived if account owner is a resident of Ohio, the balance of all accounts with the same beneficiary is $25,000 or more, the balance of all accounts is $40,000 or more, or the account owner makes periodic contributions via Automatic Investment Plan or payroll deduction.

None.

Program management fees

0.135% (includes 0.07% fee to the state), plus distribution/servicing fees of 0.25% (Class A) or 1.00% (Class C except 0.25% for the Money Market Option), 0.00% (Class I)

0.105% manager fee plus 0.02% fee to the state.

Fifth Third Bank options: No fees.

Expenses of the underlying investments

Ranges from 0.03% to 1.04%.

Age-based, year of enrollment and static portfolios: 0.03% to 0.04%
Individual fund portfolios: 0.02% to 0.31%
Fifth Third Bank options: None

Total asset-based expense ratio

Class A: 0.42% - 1.43%
Class C: 0.49% - 2.18% Class I: 0.17% - 1.18%

0.145% - 0.435%. None for Fifth Third Bank options.

Program match on contributions

None.

None.

State tax deduction or credit for contributions

Contributions, including rollover contributions, to a Ohio 529 plan of up to $4,000 per beneficiary per year (any filing status) are deductible in computing Ohio taxable income, with an unlimited carryforward of excess contributions. Contribution deadline is December 30.

Contributions, including rollover contributions, to a Ohio 529 plan of up to $4,000 per beneficiary per year (any filing status) are deductible in computing Ohio taxable income, with an unlimited carryforward of excess contributions. Contribution deadline is December 30.

State tax recapture provisions

The principal portion of nonqualified withdrawals from this plan are included in Ohio taxable income to the extent of prior Ohio tax deductions. Nonqualified withdrawals for this purpose do not include withdrawals made as the result of the beneficiary's death or disability, withdrawals made on account of the beneficiary's receipt of a scholarship. Offering materials indicate that distributions subsequently rolled over to another 529 plan are subject to Ohio tax recapture; whether or not "trustee to trustee" rollovers are subject to recapture appears unclear.

The principal portion of nonqualified withdrawals from this plan are included in Ohio taxable income to the extent of prior Ohio tax deductions. Nonqualified withdrawals for this purpose do not include withdrawals made as the result of the beneficiary's death or disability, withdrawals made on account of the beneficiary's receipt of a scholarship. Offering materials indicate that distributions subsequently rolled over to another 529 plan are subject to Ohio tax recapture; whether or not "trustee to trustee" rollovers are subject to recapture appears unclear.

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.

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.

State tax treatment of qualified distributions

Qualified distributions from Ohio and non-Ohio 529 plans are exempt. Ohio also exempts distributions from a Ohio 529 plan attributable to the beneficiary's death, disability, or receipt of a scholarship.

Qualified distributions from Ohio and non-Ohio 529 plans are exempt. Ohio also exempts distributions from a Ohio 529 plan attributable to the beneficiary's death, disability, or receipt of a scholarship.

State tax treatment of rollovers

Ohio follows federal tax-free treatment except that outbound rollovers appear subject to the recapture of prior state tax deductions.

Ohio follows federal tax-free treatment except that outbound rollovers appear subject to the recapture of prior state tax deductions.

Does the sponsoring state exclude the value of an account for state financial aid purposes?

No

No

Does participation in the program provide beneficiaries with any advantages in qualifying for resident tuition status at state institutions?

No

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.

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.

To whom are distributions made payable

Eligible educational institution, beneficiary, or account owner, as directed by the account owner.

Eligible educational institution, beneficiary, or account owner, as directed by the account owner.

Policy regarding participant/owner changes

Accepts requests to transfer account ownership.

Accepts requests to transfer account ownership.

Does participant have online password-protected access to account?

Yes

Yes

Can the complete enrollment process including funding be done online?

No

Yes

Telephone

1-866-529-8582

1-800-233-6734