Give the financial freedom to pursue a higher education. At Allianz Global Investors, we understand how invested you are in your child or grandchild’s future, and have designed our college savings program — OklahomaDream 529 — to deliver significant advantages for college investors.
Only the OklahomaDream 529 Plan has all of the following benefits:
Allows up to $20,000 of contributions to be deducted from your Oklahoma taxable income annually ($10,000 for single filers). The contributor need not be the account owner to qualify for the deduction.
- Contributions may be made up to April 15th to earn a deduction from Oklahoma income tax for the prior calendar year.
Amounts contributed and not deducted may be deducted in the succeeding five years. For example, a $120,000 contribution at once entitles the contributor to an annual $20,000 deduction for six years for joint filers.
Rollover contributions from other 529 college savings plans qualify for the Oklahoma tax deduction.
- Acceptance of contributions from individuals other than account owner — allowing assets to be accumulated faster and funding responsibilities to be shared.
Investment choice and flexibility
Everyone is different: we all have distinct goals, individual tolerances for risk and varying time horizons. That’s why OklahomaDream 529 allows you to choose from three types of investment options:
- Six Age-Based investment portfolios automatically reallocate assets based on the child’s age.
- Two Static Investment Portfolios enable you to tailor the account to your individual risk tolerance using the capital appreciation and capital preservation portfolios.
- Ten individual Investment portfolios allow you to invest in specific individual funds and construct a unique asset allocation plan.
OklahomaDream 529 offers an array of features to enhance how — and how much — you save.
- Tax advantages — From tax-deferred growth to tax-free withdrawals.
- Gifting and estate tax benefits — Investing for college can pay off for your estate plan as well.
- Control and flexibility — You drive all decisions, from naming or changing the beneficiary, to investing the assets, to distributing the funds.