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Start Saving Today!
It is never too early to start saving for the college education
of your children or grandchildren. Now is an ideal time to start.

The Utah Educational Savings Plan (UESP) is a simple, sound plan to stretch your child's educational dollars and provide some wonderful tax incentives.

Why a 529 plan? A 529 savings plan encourages saving for college. And saving for college means paying for college!

How will you pay for college? Let UESP be your online savings account for college.

Open an Account
Opening a UESP account is fast and easy. It will take approximately 10 minutes. No initial or recurring contribution schedules are required.
Make a Contribution
Contributions to your UESP account can be made online, by check, or by automated withdrawals from your checking or savings account.
Investment Options
With eleven investment options, UESP lets you choose your own degree of risk and potential reward. Choose from five age-based and six static options.

UESP Overview

Tax Advantages  
Earnings grow free from federal and Utah state income taxes if used for qualified higher education expenses.

State Income Tax Advantages1
Utah taxpayers receive a five percent tax credit on contributions up to $1,710 per beneficiary, equaling $85.50. If filing jointly, the five percent credit is applied to contributions up to $3,420 per beneficiary, equaling $171. The beneficiary on the UESP 529 account must have been designated as such before their 19th birthday to qualify for the credit.

Minimum Investment 
No minimum investment is required to open or maintain a Utah Educational Savings Plan college savings account.

Aggregate Maximum
Savings Balance:  $368,000

Annual Administrative Fees
The Maintenance Fee is $3 per $1,000 up to an account balance of $5,000 not to exceed $15 annually. If the account balance at the end of each month is at least $5,000, your account will be charged $1.25 for that month. If the account balance at the end of the month is less than $5,000, the fee will be 0.025% of the account balance for that month. This fee is assessed on an account's balance on the last business day of each month. This fee is waived for Utah residents.

The Asset Fee is 0.22% annually assessed on a monthly basis at the rate of 0.0183% on an account's balance on the last business day of each month. This fee is not assessed on Utah residents invested in Option 1-Public Treasurer's Investment Fund.

Investment Manager
Utah State Board of Regents and
Utah Higher Education Assistance Authority

Investment Options
Five age-based options
Six static options

 

1 Utah account owners can claim Utah state tax benefits each year contributions are made to their UESP
account(s). Adjustments to the maximum contribution eligible for Utah state tax benefits change as the consumer price index (CPI) increases or decreases. For 12 months ending August 31, 2009, the CPI was down which reduced the 2010 maximum contribution limit claimed as a UESP tax credit or deduction.

 

 

In the News

» Morningstar Ranks UESP as a Top-Five Choice
Today UESP was ranked as one of the top five 529 college savings plans in the country.

» New Investment Option
UESP announces an FDIC-insured savings option, Option 11: FDIC-Insured Savings.

» UESP Fee Reductions
UESP's rock bottom fees just got even lower.

» Current UESP Newsletter
Download the current issue to stay up to date.

FDIC-Insured Option
UESP announces a new FDIC-Insured Investment. Option 11:FDIC-Insured Savings.

UESP gift notice available to download.
Contributing to your child's or grandchild's UESP account may be the best gift you can give.
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© 2010 Utah State Board of Regents, all rights reserved.
The terms Utah Educational Savings Plan and UESP are registered service marks.

Investors should read the Program Description and consider all investment objectives, risks, charges, and expenses before investing. The Program Description is available for download on the Web or a hard copy can be mailed to you by requesting it online from this Web site.

FDIC Insurance. Except for the underlying investment specified below, investments in UESP are not insured by the Federal Deposit Insurance Corporation (FDIC). FDIC insurance is provided for the FDIC-insured savings account held in trust by UESP at Zions First National Bank (Bank). Funds in the savings account are insured by the FDIC on a pass-through basis to each account owner up to the maximum amount set by federal law—currently $250,000 through December 31, 2013, and $100,000 thereafter. The amount of FDIC insurance provided to an account owner is based on the total of (1) the value of an account owner’s investment in UESP’s FDIC-insured savings account plus (2) the value of other accounts held (if any) at the Bank, as determined by the Bank and by FDIC regulations.

No Other Insurance and No Guarantees. Investments in UESP are not insured nor guaranteed by the State of Utah, UESP, the Utah State Board of Regents, the Utah Higher Education Assistance Authority, other state agencies, federal government agencies (except to the extent noted above regarding FDIC insurance ), or any employees or directors of any such entities. Units in UESP have not been registered with the United States Securities and Exchange Commission or with any state securities commission.

Account Value. The value of your UESP account may vary depending on market conditions and the performance of the investment option you select. It could be more or less than the amount you contribute; in short, your investment could lose value. However, subject to the application of Bank and FDIC rules and regulations to each account owner, funds in UESP’s FDIC-insured savings account will retain their value, whether in Option 11 or when allocated to portions of Options 2, 7, 8, and 9.

Non-Utah taxpayers and residents: You should determine whether the state in which you or your beneficiary pay taxes or live offers a 529 plan that provides state tax or other benefits not otherwise available to you by investing in UESP. You should consider such state tax treatment and benefits, if any, before investing in UESP.