Systematic Exchange Program. The Systematic Exchange Program allows the exchange of a minimum of $200 from one Static or Individual Fund Investment Option to another Static or Individual Fund Investment Option on a pre-scheduled basis (“Systematic Exchange”). Systematic exchanges are not permitted between an Age-Based Investment Option and Static Investment Options/Individual Fund Investment Options or between multiple Age-Based Investment Options. In order to establish the Systematic Exchange Program, you must deposit a minimum contribution of at least $2,500 into a “source” Investment Option. When you establish a Systematic Exchange, you must select a preset dollar amount of $200 or more to be exchanged into each of one or more preselected “receiving” Investment Options over a preset period of time, either monthly or quarterly. Any Static Investment Option or Individual Fund Investment Option can serve as the source Investment Option or receiving Investment Option. Systematic Exchange does not ensure a profit or protect against loss in a declining market. Systematic Exchange commits you to a preset investment in the receiving Investment Option(s) selected regardless of fluctuating prices. If Systematic Exchange is selected at the time that an account is opened or after an account is opened and is selected for new contributions, it will be considered the initial investment strategy for that account and not be counted toward the investment change limit for that Beneficiary for the calendar year. If Systematic Exchange is selected for money already deposited into an account after an account is opened or if any changes to a current Systematic Exchange Program are made, that selection or change will be counted toward the investment change limit for that Beneficiary for the calendar year. Contributions by non-account owners Anyone can make contributions to an account. However, only the account owner and a custodian of an UGMA or UTMA account where the custodian is the parent or guardian of the Beneficiary of an UGMA or UTMA account, are eligible for a Nebraska state income tax deduction for contributions made by him or her. In addition, only the account owner maintains control over all contributions to an account regardless of their source, including the right to change Investment Options and make withdrawals from an account. For the purpose of an UGMA, UTMA or minor-owned account, the minor is the account owner. Under current law, the gift and GST tax consequences of a contribution by an...
Systematic Exchange Program. The Plan permits Account Owners to take advantage of a Systematic Exchange Program that would allow the exchange of a minimum of $50 from one Investment Option to another Investment Option on a pre-scheduled basis (“Systematic Exchange”). In order to establish the Systematic Exchange Program, you will have to deposit a minimum contribution of at least $500 into a “source” Investment Option. When you establish a Systematic Exchange, you will be required to select a preset dollar amount of $50 or more to be exchanged into each of one or more preselected “receiving” Investment Options over a preset period of time, either monthly or quarterly. Any Investment Option except the Checking Investment Option can serve as the source Investment Option, and any Investment Option, including the Checking Investment Option, can be the receiving Investment Option. Exchanges into the Checking Investment Option require two business days to process. These funds will be available for withdrawal on the second business day. Systematic Exchange does not ensure a profit or protect against loss in a declining market. Systematic Exchange commits you to a preset investment in the receiving Investment Option(s) selected regardless of fluctuating prices. If Systematic Exchange is selected at the time that an account is opened or after an account is opened and is selected for new contributions, it will be considered the initial investment strategy for that account and not be counted toward the twice per year investment change limit. If Systematic Exchange is selected for money already deposited into an account after an account is opened or if any changes to a current Systematic Exchange Program are made, that selection or change will be counted toward the twice per year investment change limit. Contributing to an account See “Part 10 – Federal and State Tax Considerations” for important information about annual investment change limits. Contributions by non-Account Owners Anyone can make contributions to an account. However, only the Account Owner or the Account Owner’s Authorized Individual, if applicable, maintains control over monies in an account, regardless of their source, including the right to change Investment Options, change Account Owners, and make withdrawals from an account. Contribution methods Contributions can be made to an account by: • Contributing electronically from a bank account • Check • Wire Transfer • Payroll deduction • Rollover from another qualified ABLE prog...
Systematic Exchange Program. The Systematic Exchange Program allows the exchange of a minimum of $200 from one Investment Option to another Investment Option on a pre-scheduled basis (“Systematic Exchange”). In order to establish the Systematic Exchange Program, you must deposit a minimum contribution of at least $2,500 into a “source” Investment Option. When you establish a Systematic Exchange, you must select a preset dollar amount of $200 or more to be exchanged into each of one or more preselected “receiving” Investment Options over a preset period of time, either monthly or quarterly. Any Age-Based, Static or Individual Investment Option can serve as the source Investment Option or receiving Investment Option. Systematic Exchange does not ensure a profit or protect against loss in a declining market. Systematic Exchange commits you to a preset investment in the receiving Investment Option(s) selected regardless of fluctuating prices. If Systematic Exchange is selected at the time that an account is opened or after an account is opened and is selected for new contributions, it will be considered the initial investment strategy for that account and not be counted toward the investment change limit for that Beneficiary for the calendar year. If Systematic Exchange is selected for money already deposited into an account after an account is opened or if any changes to a current Systematic Exchange Program are made, that selection or change will be counted toward the investment change limit for that Beneficiary for the calendar year. Before establishing a Systematic Exchange Program, you should carefully consider with your Financial Advisor the risks associated with selecting and creating a Systematic Exchange Program. Contributions by non-account owners Anyone can make contributions to an account. However, only the account owner and a custodian of an UGMA or UTMA account where the custodian is the parent or guardian of the Beneficiary of an UGMA or UTMA account, are eligible for a Nebraska state income tax deduction for contributions made by him or her. In addition, only the account owner maintains control over all contributions to an account regardless of their source, including the right to change Investment Options and make withdrawals ............................................................................................................................................................................................................................. from an account. For the pur...
