• CALL 1.888.MER.EDGE (637.3343)
For your information

NextGen 529 Client Direct Series Program Description

NextGen 529 is a Section 529 plan administered by the Finance Authority of Maine. Before you invest, read the NextGen 529 Client Direct Series Program Description and Participation Agreement, including any supplements (the "Program Description"), carefully and keep them for future reference. Program Description ››

Consider state tax benefits before investing

NextGen 529 was established by the State of Maine. NextGen 529 provides certain benefits only to residents of the State of Maine. If you or the intended beneficiary are not residents of the State of Maine, you should consider whether your home state or your beneficiary's home state 529 plan offers any state tax or other benefits that are only available for investments in that state's Section 529 plan. You should consult with your tax or other advisors to learn more about how state-based benefits (including any limitations) would apply to your specific circumstances.

Use the State Tax Deduction Calculator below to determine if your home state or your beneficiary's home state offers a state tax deduction that is only available for investment in that state's Section 529 plan.
State Tax Deduction Calculator ››

Select this option if you are funding this NextGen 529 account from any source other than an existing UGMA/UTMA custodial account. This is the most commonly used NextGen account type. Note: you may change the Designated Beneficiary to a qualified family member at anytime.

Select this option only if you are planning to transfer assets from an existing UGMA/UTMA into this NextGen 529 account. Note: UGMA/UTMA assets are considered an irrevocable gift to the named minor. You may not change the Designated Beneficiary on this account or transfer ownership of the account to anyone other than a successor UGMA/UTMA custodian or the Designated Beneficiary. The Designated Beneficiary will gain control of the account upon reaching the UTMA/UTMA statutory age, which may vary by state.

The Program Description contains more complete information, including investment objectives, charges, expenses and risks of investing in NextGen 529, which you should carefully consider before investing. You also should consider whether your home state or your designated beneficiary's home state offers any state tax or other state benefits such as financial aid, scholarship funds, and protection from creditors that are only available for investing in a 529 plan offered by that state.
(VA21********4V)