Specific Account Information

How can I check my account balance?
How will my contributions be invested?
Can I change the investment option in my account?
Can I rollover funds from another 529 plan?
What fees and expenses are associated with a UESP account?
What happens if I move from one state to another?


How can I check my account balance?
You will be able to check your account balance online every day. You just need to sign up for online account access. You can also call us for general account information toll-free at 800.418.2551. In addition, you will receive quarterly statements detailing account activity and balance information as of the quarter end.

How will my contributions be invested?
When you open an account, you will designate a particular investment option. You can choose from five age-based options and six static options. The age-based options include age brackets that allow for automatic reallocation of assets from more aggressive to more conservative investments as your beneficiary gets closer to college age. The static investment options enable you to choose a particular investment style or asset class, ranging from investments in the Utah Public Treasurer's Investment Fund (PTIF) or an FDIC-insured savings account to diversified equities. As an account owner, you should choose the investment option best suited to your risk and return tolerance relative to when your beneficiary expects to enter college.

Can I change the investment option in my account?
Yes. You may periodically change your investment option to fit your changing needs. Federal regulations allow you to change your option for existing funds in an account within the same 529 plan twice during calendar year 2009 for the same beneficiary.

Can I rollover funds from another 529 plan?
Yes. You can rollover between 529 programs (i.e., move from another state’s 529 plan to UESP or vice versa) for the same beneficiary once per 12-month period. You can rollover funds between 529 programs at anytime in connection with a beneficiary change.

To rollover to UESP, first establish a UESP account so the money has a place to go. Complete the Incoming Direct Rollover: 529 Plan or ESA (form 210) and send it to UESP. UESP will send that form with a letter of acceptance to your current 529 plan. Contact your current plan to make sure no additional paperwork is needed from that plan in order to complete the rollover to UESP.

What fees and expenses are associated with a UESP account?
UESP does not charge fees for enrollment, withdrawals, option changes, or transfers. However, accounts are charged an annual UESP Administrative Asset Fee of 0.22% (assessed monthly at 0.0183%) and an annual UESP Administrative Maintenance Fee of up to $15 per account (assessed monthly at $1.25 for accounts with at least $5,000 or 0.025% for accounts with less than $5,000). The Administrative Maintenance Fee is waived for all Utah resident account owners. Investments in UESP are also subject to the expense ratios of the underlying investments. (See Vanguard operating expense ratios). There is no Administrative Asset Fee for Utah resident account owners invested in the PTIF (Option 1).

What happens if I move from one state to another?
You do not have to be a Utah resident or taxpayer to open or maintain a UESP account.

 

© 2009 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 should determine whether the state in which they or their beneficiary live or pay taxes offers a 529 plan that provides state tax or other benefits not otherwise available to them through UESP.

 

For more details about how our plan works, download a copy of our Program Description.

Click here to download a pdf.
Click here to request a mailed copy.