West Virginia 529 College Savings Plan – SMART 529

West Virginia 529 College Savings Plan – West Virginia SMART 529 Select 529

The Benefits Of 529 College Savings PlansAbout: All 529 college savings plans offer a tax-advantaged way to save for college, but only SMART529 Select offers a combination of access to world-class money management, low fees and expenses, and program administration through Hartford Life Insurance Company.

The West Virginia SMART529 Select 529 savings program is managed by Hartford Life and features age-based and static portfolio options utilizing Dimensional Fund Advisors mutual funds. Although DFA funds are typically available only through financial advisers, this 529 plan is direct-sold.

Website: http://www.smart529select.com/cs/Satellite?pagename=College_Savings/Page/CS_Select_HomePage&cid=1150847529302

Phone #: 1-866-574-3542

Investment Options: The Age-Based Portfolios option consists of 7 portfolios of underlying mutual funds with varying risk tolerances. West Virginia also has 10 multi-fund portfolios with varying risk tolerances. Investments are managed by Dimensional Fund Advisors Inc.

Tax Benefits:  Earnings in your account have the potential to accumulate tax-deferred until withdrawn. Qualified distributions are not subject to federal income tax. For a non-qualified distribution, the earnings portion is taxable to the individual who receives the payment, either the account owner or the designated beneficiary.  If the payment is not made to the beneficiary or to an eligible educational institution for the benefit of the beneficiary, it will be deemed to have been made to the account owner.

State Residency Requirements: The account owner or the beneficiary must be a Virginia resident at the time of program enrollment.

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