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OklahomaDream 529 Plan
Life Ambitions — Making a Dream Reality
Give the financial freedom to pursue a higher education
Families want the best for their children and grandchildren, to see them realize their life's ambitions. Education is integral to their success, and while paying for college could be one of the largest expenditures families may incur. It just might be the best investment a family can make.
The Tax Advantages of the OklahomaDream529 Plan
State residents may deduct up to $10,000 of taxable income annually from Oklahoma state income taxes ($20,000 for joint filers). Contributions made up until April 15 of a given year qualify for an Oklahoma state income tax deduction for the prior calendar year.1 Amounts contributed and not deducted in the year in which the contribution was made to an account may be deducted from the donor's Oklahoma state income tax in the succeeding five years.
Make the Most of Every Dollar
Offering the Fidelity-managed Workplace 529 Plan is a great way to show employees that you understand their needs and value their financial security. And it's a low-cost enhancement to employee benefits packages.
Employers can set up employee contributions to our Workplace 529 Plan either through payroll deduction or through Electronic Funds Transfers (EFTs) from employee bank accounts.Learn more
Earn unlimited 2% cash back on every eligible net purchase2 when you redeem your Reward Points as a deposit into an eligible Fidelity-managed 529 account.
There's no annual fee. And the card has no Reward Point caps or limits, and Points do not expire.2Apply Now
Choose the Best Strategy
OklahomaDream 529 lets you choose from three types of investment options so you can pursue the strategy that is best for your needs and circumstances. For each contribution, you determine how it is invested. You may also reallocate existing assets in your account twice every calendar year and whenever you change the account's designated beneficiary.
Investment choice and flexibility
Everyone is different: we all have distinct goals, individual tolerances for risk, varying time horizons. That's why OklahomaDream 529 allows you to choose from three types of investment options:
- Age-based portfolios automatically reallocate assets based on the child's age.
- Static portfolios enable you to tailor your account to your personal risk tolerance.
- Individual investment portfolios allow you to invest in specific individual funds and construct a unique asset allocation plan.
- The OklahomaDream 529 Plan is sponsored by the State of Oklahoma and managed by Fidelity Investments. OklahomaDream 529 Plan accounts are not insured by any state, federal government or any federal agency. Furthermore, neither the principal nor any investment return is guaranteed by any state, federal government or any federal agency.
- If you or the designated beneficiary is not an Oklahoma resident, you may want to consider, before investing, whether your state or the designated beneficiary's home state offers its resident alternate state tax advantages or other state benefits such as financial aid, scholarship funds, and protection from creditors.
- Units of the Portfolios are municipal fund securities and are subject to market fluctuation and volatility.
- Please note that 529 plans may have certain fees and expenses including but not limited to annual maintenance fees, sales charges, deferred sales charges, administration, state, and management fees, and underlying fund expenses. Please consider these fees as well as the investment risks when investing in a 529 plan.
- 1. Deductions for the same contribution may not be recognized over multiple tax years.
- 2. You will earn 2 Points per dollar in eligible net purchases (net purchases are purchases minus credits and returns) that you charge. Account must be open and in good standing to earn and redeem rewards and benefits. Upon approval, refer to your Program Rules for additional information. You may not redeem Reward Points, and you will immediately lose all of your Reward Points, if your Account is closed to future transactions (including, but not limited to, due to Program misuse, failure to pay, bankruptcy, or death). Reward Points will not expire as long as your Account remains open. Certain transactions are not eligible for Reward Points, including Advances (as defined in the Agreement, including wire transfers, travelers checks, money orders, foreign cash transactions, betting transactions, lottery tickets and ATM disbursements), convenience checks, balance transfers, unauthorized or fraudulent charges, overdraft advances, interest charges, fees, credit insurance charges, transactions to fund certain prepaid card products, U.S. Mint purchases, or transactions to purchase cash convertible items. The 2% cash back rewards value applies only to Points redeemed for a deposit into an eligible Fidelity® account. The redemption value is different if you choose to redeem your Points for other rewards such as travel options, merchandise, gift cards, and/or statement credit. Other restrictions apply. Full details appear in the Program Rules new card customers receive with their card. Establishment or ownership of a Fidelity® account or other relationship with Fidelity Investments® is not required to obtain a card or to be eligible to use Points to obtain any rewards offered under the program other than Fidelity Rewards.
- The creditor and issuer of this card is Elan Financial Services, pursuant to a license from Visa U.S.A. Inc.
- Fidelity and Elan Financial Services are separate companies.
- 3. Although an active asset allocation strategy within the Active Age-Based Portfolios is designed to add value, there is no guarantee any value will be added, and the strategy may result in losses to the Portfolios or may cause the Portfolios to have a different risk profile.
- Investing involves risk, including risk of loss. You may gain or lose money over time. For individual fund-specific risks, click on each fund’s name to navigate to the fund details page.