Massachusetts 529 College Savings Plan – U.Fund College Investing Plan

Massachusetts 529 College Savings Plan – U.Fund College Investing Plan

Benefits of 529 College Savings PlansAbout: Massachusetts’ U.Fund College Investing Plan, a Fidelity-managed 529 plan follows the same approach as other Fidelity plans in Arizona, Delaware and New Hampshire. It features three age-based options; one using Fidelity mutual funds; one using Fidelity index mutual funds; and a third multi-firm option with portfolios that invest in funds offered by several different companies. The plans also offer 11 static options, and one option that invests in an interest-bearing deposit account.

Website: https://www.fidelity.com/massachusetts-529/

Phone #: 1-800-544-2776

Investment Options: They have 3 age-based options, one invested in Fidelity mutual funds, another invested in Fidelity index mutual funds, and a third multi-firm option with portfolios that invest in funds offered by several different companies. They can also select among 6 multi-fund portfolios, 5 individual-fund portfolios and a Bank Deposit Portfolio. The investments are managed by Fidelity Investments, Aston, BlackRock, Credit Suisse, Harbor, JPMorgan, Royce, Acadian Funds, Causeway, MFS, William Blair, Western Asset, Natixis, Invesco, Eaton Vance, and PIMCO mutual funds. For the Bank Deposit Portfolio only, a deposit in a FDIC-insured interest-bearing account.

Tax Benefits: Effective January 1, 2017 through the 2021 tax year, contributions to Massachusetts 529 plans of up to $1,000 per year by an individual, and up to $2,000 per year by a married couple filing jointly, are deductible in computing Massachusetts taxable income.

State Residency Requirements: No state residency is required to participate in Massachusetts 529 College Savings Plans.

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