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Compare 529 Plans
Plan
Summary
The Maryland 529 -- Senator Edward J. Kasemeyer College Investment Plan is a direct-sold 529 plan available to residents of any state, and is managed by T. Rowe Price. Maryland residents may enjoy a state tax deduction for contributions to the plan.
The Kansas Schwab 529 College Savings Plan is available through discount broker Charles Schwab and managed by American Century. The Plan utilizes a variety of mutual fund families in its age-based and static portfolios with an actively managed or index option. Accounts can be linked to the Upromise rewards service.
Program type
Savings
Savings
How to enroll
Enroll directly with the program.
Enroll through Charles Schwab & Co., Inc. or through independent advisers associated with Schwab.
Initial year of operation
2001
2003
State agency(ies)
Maryland 529
Kansas State Treasurer
Program manager
T. Rowe Price Associates, Inc.
American Century Investment Management, Inc.
Program distributor
T. Rowe Price Investment Services, Inc.
Charles Schwab & Co. Inc.
State residency requirements
None
None
Who can be a participant/owner in the program?
U.S. citizens and resident aliens, UGMA/UTMA custodians, and legal entities organized in the U.S..
U.S. citizens and resident aliens, and UGMA/UTMA custodians. Joint ownership is permitted.
Significant time or age restrictions imposed by the program
None
None
Maximum contributions
Accepts contributions until all account balances in Maryland's 529 plans for the same beneficiary reach $500,000.
Accepts contributions until all account balances in Kansas' 529 plans for the same beneficiary reach $475,000.
Minimum contributions
The minimum contribution requirement is $25 per portfolio. The minimum for subsequent contributions, automatic monthly contributions and/or payroll deductions is $25 per portfolio.
No minimum
Does the program offer an e-gifting platform for receiving gift contributions?
This plan offers an online tool to share a gift contribution link with family and friends.
This plan offers a robust gifting platform that allows gift-givers to save their own profile for recurring or future contributions.
Age-based/Enrollment Year investment options
The Enrollment-Based Portfolios contain 8 portfolios of underlying mutual funds, ranging from 100% equity to 20% equity. Contributions are placed into the portfolio corresponding to the number of years to expected enrollment based on the age of the beneficiary or as selected by the account owner. 7 portfolios shift to a more conservative investment allocation over time, eventually transferring to the Portfolio for Education Today.
The Age-Based option is available as actively managed or index, with 4 different risk levels (Aggressive, Moderately Aggressive, Moderate, and Moderately Conservative) each containing 8 portfolios of underlying mutual funds. Contributions are placed into the portfolio corresponding to the selected risk level and the age of the beneficiary or the number of years to expected enrollment, and later reassigned to more conservative portfolios as the beneficiary approaches college age.
Static investment options
Select among 3 multi-fund portfolios (Equity Portfolio, Balanced Portfolio, Global Equity Market Index Portfolio) and 7 individual-fund portfolios (U.S. Treasury Money Market Portfolio, Inflation Focused Bond Portfolio, Bond and Income Portfolio, U.S Bond Index Portfolio, Equity Index 500 Portfolio, Extended Equity Market Index Portfolio and Social Index Equity Portfolio).
Select among 6 multi-fund portfolios and the Money Market Portfolio. The static option is available with actively managed or index funds.
Underlying investments
T. Rowe Price mutual funds and Vanguard index fund
American Beacon, American Century, Baird, JP Morgan, Laudus, Schwab, Metropolitan West Asset Management, Vanguard, TCW Group
Enrollment or application fee
None
None.
Account maintenance fee
None
None.
Program management fees
0.03% Program Fee (0.15% for the Social Index Equity Portfolio) and 0.05% state fee
0.17% manager fee for the actively managed options
Expenses of the underlying investments
Ranges from 0.05 to 0.56% (portfolio weighted average).
Ranges from 0.18% - 0.73% (portfolio weighted average)
Total asset-based expense ratio
0.13% - 0.64%
0.38% - 0.93; Index portfolios have all-inclusive fee of 0.25%.
Program match on contributions
The Save4College State Contribution Program is designed to help lower to middle-income families in Maryland save money for higher education. Individuals who open a Maryland College Investment Plan Account may be eligible to receive a $250 or $500 contribution from the state. The application period opens January 1. All applicants must submit their application for the Save4College State Contribution Program by 11:59 pm on May 31. Maryland 529 or the Maryland General Assembly may make changes to the State Contribution Program in the future that impact the contribution amounts, minimum requirements, or other eligibility requirements.
*State contributions are not guaranteed. The state funding for contributions is limited each fiscal year. As with the entire state budget, the Maryland General Assembly has final approval. If resources are insufficient to fully fund all eligible accounts, Maryland 529 shall provide contributions in the order in which applications are received in good order and give priority to applications of account holders who did not receive a state contribution in any prior year. Account holders who receive a State Contribution Program contribution in a given year are not eligible for the $2,500 deduction for any of their College Investment Plan Accounts that year. Individuals should check with a tax professional regarding their specific situation.
None.
State tax deduction or credit for contributions
Contributions to the Maryland 529 -- College Investment Plan of up to $2,500 per beneficiary per year by an individual, and up to $5,000 per beneficiary per year by married taxpayers filing jointly are deductible in computing Maryland taxable income, with a 10-year carryforward of excess contributions. Account owners and contributors are eligible for the deduction. Rollover contributions are deductible if not previously deducted. Contribution deadline is December 31 postmark.
Contributions to Kansas AND non-Kansas state-sponsored 529 plans of up to $3,000 per beneficiary per year by an individual, and up to $6,000 per beneficiary per year by a married couple filing jointly, are deductible in computing Kansas taxable income. Rollover contributions are not deductible. Contribution deadline is December 31.
State tax recapture provisions
The principal portion of nonqualified withdrawals from this plan are included in Maryland taxable income to the extent of prior Maryland tax deductions. Rollovers are not subject to recapture.
The principal portion of nonqualified withdrawals from this plan are included in Kansas taxable income to the extent of prior Kansas tax deductions. Rollovers are not subject to recapture.
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. Distributions from a 529 account directly to a Roth IRA are considered a qualified expense for state income tax purposes.
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. Distributions from a 529 account directly to a Roth IRA are considered a qualified expense for state income tax purposes.
State tax treatment of qualified distributions
Qualified distributions from Maryland and non-Maryland 529 plans are exempt.
Qualified distributions from Kansas and non-Kansas 529 plans are exempt.
State tax treatment of rollovers
Maryland follows federal tax-free treatment.
Kansas follows federal tax-free treatment.
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
Beneficiary, beneficiary and eligible educational institution jointly, estate of 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?
Yes, initial funding may be completed online by signing up for automatic monthly contribution or payroll deduction; an initial lump sum contribution requires the plan participant to send a check.
Yes
Telephone
1-888-463-4723, Option 1
1-866-903-3863