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Ugift® - Give college savings

Upromise®

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Every dollar counts, so the SSGA Upromise 529 Plan was designed to help families maximize the dollars they have to save for college.

Cost to invest

As with any investment product and any 529 plan, there are fees associated with investing your money. The SSGA Upromise 529 Plan is an affordable option:

  • No enrollment fee for starting your account.
  • Annual account fee of only $20, which is waived if you are or the beneficiary is a Nevada resident or invest in the Savings Portfolio.*
  • Variety of low-cost investment options, which apply a minimal percentage charge based on your account balance.

Contribution levels

Depending on your personal circumstances, you may want to invest small amounts regularly or bigger amounts when you can. The SSGA Upromise 529 Plan allows for many different options to suit your needs.

To open the account, you can:

  • Make a one-time contribution of $15 or more by electronic bank transfer or check.
  • Make recurring contributions** of at least
    • $15 per month by electronic funds transfer, or
    • $15 per pay period through payroll direct deposits.

After your account is initially funded, you can still contribute at any time through:

  • A one-time contribution of $15 or more by electronic funds transfer or check.
  • Recurring contributions** of at least
    • $15 per month by electronic bank transfer, or
    • $15 per pay period through payroll direct deposits.

There are maximum contribution limits to be aware of:

  • Federal gift tax laws cap annual contributions at $16,000 (or $32,000 if married and filing jointly).
  • Federal gift tax laws do allow for five years' worth of tax-free gifts at one time, totaling $80,000 per beneficiary in a single year ($160,000 for electing married couples)***; contributions are considered completed gifts and are removed from your estate.
  • The SSGA Upromise 529 Plan account balance maximum is $500,000.

*The fee is waived if the account owner or beneficiary has a Nevada permanent address or mailing address on file, or if the account owner is invested in the Savings Portfolio at the time the annual account maintenance fee is assessed.

**Regular investments cannot ensure a profit or protect against a loss in a declining market.

***In the event the donor does not survive the five-year period, a pro-rated amount will revert to the donor's taxable estate.

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FOR PUBLIC USE

IMPORTANT RISK INFORMATION
The information provided does not constitute investment advice and it should not be relied on as such. It should not be considered a solicitation to buy or an offer to sell a security. It does not take into account any investor's particular investment objectives, strategies, tax status or investment horizon.

The statements and opinions expressed are subject to change at any time, based on market and other conditions. State Street cannot guarantee the accuracy of completeness of third party statements or data.

Investing involves risk including the risk of loss of principal. Investment returns will vary depending upon the performance of the Portfolios you choose. Except to the extent of FDIC insurance available for the Savings Portfolio, you could lose all or a portion of your money by investing in the Plan, depending on market conditions. Account Owners assume all investment risks as well as responsibility for any federal and state tax consequences.

ETFs trade like stocks, fluctuate in market value and may trade at prices above or below the ETFs’ net asset value. Brokerage commissions and ETF expenses will reduce returns.

The SSGA Upromise 529 Plan (the “Plan”) is administered by the Board of Trustees of the College Savings Plans of Nevada (the “Board”). Ascensus Broker Dealer Services, LLC. (ABD) serves as the Program Manager. ABD has overall responsibility for the day-to-day operations, including distribution of the Plan and provision of certain marketing services. State Street Global Advisors (SSGA) serves as Investment Manager for the Plan except for the Savings Portfolio, which is managed by Sallie Mae Bank, and also provides or arranges for certain marketing services for the Plan. The Plan’s Portfolios invest in either (i) Exchange Traded Funds and mutual funds offered or managed by SSGA or its affiliates; or (ii) a Federal Deposit Insurance Corporation (FDIC)- insured omnibus savings account held in trust by the Board at Sallie Mae Bank. Except for the Savings Portfolio, investments in the Plan are not insured by the FDIC. Units of the Portfolios are municipal securities and the value of units will vary with market conditions.

Standard & Poor’s®, S&P® and SPDR® are registered trademarks of Standard & Poor’s Financial Services LLC (S&P); Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC (Dow Jones); and these trademarks have been licensed for use by S&P Dow Jones Indices LLC (SPDJI) and sublicensed for certain purposes by State Street Corporation. State Street Corporation’s financial products are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates and third party licensors and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability in relation thereto, including for any errors, omissions, or interruptions of any index.

For more information about the SSGA Upromise 529 Plan (“the Plan”) download the Plan Description and Participation Agreement or request one by calling 1-800-587-7305. Investment objectives, risks, charges, expenses, and other important information are included in the Plan Description; read and consider it carefully before investing. Ascensus Broker Dealer Services, LLC. (“ABD”) is distributor of the Plan.

 

Please Note: Before you invest, consider whether your or the beneficiary’s home state offers any state tax or other state benefits such as financial aid, scholarship funds, and protection from creditors that are only available for investments in that state’s qualified tuition program. You should also consult your financial, tax, or other advisor to learn more about how state-based benefits (or any limitations) would apply to your specific circumstances. You also may wish to contact directly your home state’s 529 college savings plan(s), or any other 529 plan, to learn more about those plans’ features, benefits, and limitations. Keep in mind that state-based benefits should be one of many appropriately weighted factors to be considered when making an investment decision.

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