Specific Account Information

How will I know 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 will I know my account balance?
You will be able to check your account balance online everyday. You just need to sign up for online account access. You can also call us for account information toll-free at 800.418.2551. In addition, you will receive quarterly statements from the Utah Educational Savings Plan (UESP) 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 four static options. The age-based options include age-brackets that allow for automatic reallocation of assets from more aggressive to more conservative 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 Public Treasurers Investment Fund (PTIF) 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 once per calendar year 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 any time 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 Rollover form (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, disbursements, option changes, or transfers. However, accounts are charged an annual UESP Administrative Asset Fee of 0.25% (assessed quarterly at 0.0625%) and an annual UESP Administrative Maintenance Fee of up to $20 per account (assessed quarterly at $5 for accounts with at least $5,000 or 0.10% 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.

 

© UESP 2008
The terms Utah Educational Savings Plan and UESP are registered trademarks.

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.

Investments are not guaranteed by UESP, the Board of Regents, the UHEAA, the FDIC, or any other state or federal government agency. Your investment may lose value.

Investors who are not Utah taxpayers should determine whether the state in which they or their beneficiary reside or pay taxes offers a 529 plan, and if so, whether that plan offers state tax or other benefits not available through UESP.

 

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

Click here to download.
Click here to request a copy be sent to you