Illinois Section 529 Programs definition

Illinois Section 529 Programs means the Bright Start Direct-Sold College Savings Program, the Bright Directions Advisor- Guided 529 College Savings Program, and College Illinois!, a prepaid tuition program. Individual Fund Portfolio means an investment Portfolio that invests in the shares of a single Underlying Investment. Account Owners do not own shares of the Underlying Investment directly, but rather own shares in a Portfolio of the Program. You can choose to allocate your Contributions to one or more Individual Fund Portfolio according to your investment objective and risk tolerance. The performance of the Individual Fund Portfolios is dependent on the performance of the Individual Underlying Investment in which they invest. As a result, its performance may be more volatile than the other available Portfolios in the Program. See “Exhibit B – Investment Portfolios and Underlying Investments.” Individual Fund ETF Portfolio means an investment Portfolio that invests in the shares of a single exchange traded fund. Account Owners do not own shares of the underlying exchange traded funds directly, but rather own shares in a Portfolio of the Program. You can choose to allocate your Contributions to one or more Individual Fund ETF Portfolios according to your investment objective and risk tolerance. The performance of the Individual Fund ETF Portfolios is dependent on the performance of the individual exchange- traded funds in which they invest. As a result, their performance may be more volatile than the other available Portfolios in the Program. See “Exhibit C – Underlying Exchange Traded Fund Information.” Individual Fund ETF Portfolios are available only under Fee Structure F.
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Illinois Section 529 Programs means the Bright Start Direct-Sold College Savings Program, the Bright Directions Advisor-Guided 529 College Savings Program, and College Illinois, a prepaid tuition program. Individual Fund Portfolio means an investment Portfolio that invests in the shares of a single Underlying Investment. Account Owners do not own shares of the Underlying Investment directly, but rather, own shares in a Portfolio of the Program. You can choose to allocate your Contributions to one or more Individual Fund Portfolios according to your investment objective and risk tolerance. The performance of an Individual Fund Portfolio is entirely dependent on the performance of the individual Underlying Investment in which it invests. As a result, its performance may be more volatile than the other available Portfolios in the Program. See “Exhibit B – Investment Portfolios and Underlying Investments.”
Sample 1
Illinois Section 529 Programs means the Bright Start Direct-Sold College Savings Program, the Bright Directions Advisor-Guided 529 College Savings Program, and College Illinois, a prepaid tuition program.
Sample 1

Examples of Illinois Section 529 Programs in a sentence

  • If this rule change has the effect of increasing the number of students who are found eligible under the category of VI (as we believe it may), these staffing shortages will become even more problematic.

  • If an Account Owner has multiple accounts in the Program for the same Beneficiary or multiple accounts in the Program and other Illinois Section 529 Programs for the same Beneficiary, the Account Owner may change the Portfolios in all of these accounts without tax consequences, as long as the changes to all of the accounts are made at the same time and no more frequently than twice per calendar year or upon a change of Beneficiary.

  • An Account Owner or multiple Account Owners can open more than one Account for the same Beneficiary as long as the total of the balances in all such Accounts and accounts for the Beneficiary in other Illinois Section 529 Programs, including the Bright Start Direct-Sold College Savings Program and College Illinois!, do not exceed the Maximum Account Balance.

  • However, the aggregate balance of all Accounts for a Beneficiary, and accounts in other Illinois Section 529 Programs, including the Bright Start Direct-Sold College Savings Program and College Illinois!, may not exceed the Maximum Account Balance.

  • Each Account may have only one Beneficiary, but different Account Owners may establish different Accounts for the same Beneficiary, provided that the total balances in such Accounts, and all other accounts in other Illinois Section 529 Programs, do not exceed the Maximum Account Balance.

  • If an Account Owner has multiple Accounts in the Program for the same Beneficiary, or multiple Accounts in the Program and other Illinois Section 529 Programs, the Account Owner may change the Portfolios in all such Accounts without tax consequences, so long as the changes to all of the Accounts are made at the same time and no more frequently than twice per calendar year or upon a change of the Beneficiary.

  • Contributions cannot be made to any Account for a Beneficiary if the aggregate Account balance, including the proposed Contributions, for that Beneficiary (including all Program Accounts for the same Beneficiary and any accounts under other Illinois Section 529 Programs, including the Bright Directions Advisor-Guided 529 College Savings Program and College Illinois!, regardless of Account Owner) would exceed the Maximum Account Balance.

  • Each Account may have only one designated Beneficiary, but different Account Owners may establish different Accounts for the same Beneficiary, provided that the total balances in such Accounts, and all other accounts in other Illinois Section 529 Programs, do not exceed the Maximum Account Balance.

  • Additional Contributions may be made in the future if the aggregate value of Accounts for a Beneficiary in the Program and in other Illinois Section 529 Programs falls below the Maximum Account Balance then in effect.The $450,000 Maximum Account Balance is based on the aggregate market value of the Account(s) for a Beneficiary and not on the aggregate Contributions made to the Account(s).

  • You may not make additional Contributions to any Account for a Beneficiary once the aggregate balance of all Accounts for the Beneficiary, and all accounts in other Illinois Section 529 Programs for the Beneficiary, including the Bright Start Direct- Sold College Savings Program and College Illinois!, equals or exceeds the Maximum Account Balance.

Related to Illinois Section 529 Programs

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