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Dream Big. Plan Ahead.

Important information regarding changes affecting Section 529 plans:

On December 18, 2015, President Obama signed into law the Protecting Americans from Tax Hikes (PATH) Act of 2015. Included within the PATH Act were the following provisions affecting Section 529 qualified tuition programs, effective for tax years beginning after December 31, 2014:


1. Expenses for the purchase of a computer or peripheral equipment, computer software, or Internet access and related services are included in the definition of qualified higher education expenses for which tax-advantaged distributions from 529 accounts are eligible. Participants who made eligible purchases in 2015 for their account beneficiaries may take withdrawals from their accounts until December 31, 2015 as reimbursement for such purchases.

2. A refund of tuition paid with amounts distributed from a 529 account will not be included in gross income if such amounts are re-contributed to a 529 account with the same beneficiary within 60 days of the refund. This provision is effective with respect to refunds made after December 31, 2014. In the case of refunds received after December 31, 2014 and before the date of enactment, this provision is effective with respect to refunds re-contributed not later than 60 days after date of enactment (December 18, 2015).

3. Section 529 accounting rules are modified to treat any distribution from a 529 account as coming only from that account, even if the individual making the distribution is the owner of more than one account. Merrill Lynch will begin reporting this way for distributions taken in tax-year 2016.

New Online Functionality:

NextGen Online Distributions*

Clients in the Direct and Select Series now have the ability to request a distribution out of their 529 accounts to the participant, beneficiary or an Institution of Higher Education.

NextGen Direct Online Investment Changes

Clients in the Direct Series now have the ability to rebalance their existing portfolios (process an exchange) and change their investment allocation for future contributions. This service is not available for clients in the Select Series.

Log in to your account on mymerrill.com or merrilledge.com.

* Distributions of all Maine Grants, including Alfond Grant, and full distributions resulting in a closeout are not yet available online.

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For the investor seeking additional assistance or a broader range of investment choices than offered through the NextGen Client Direct Series, consider the NextGen Client Select Series.

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Notice Regarding Fees.

Effective January 1, 2015, the $50 annual Account Maintenance Fee will be eliminated for ALL Client Select Series accounts.

Are You A Maine Resident?

There may be additional benefits for you, as a Maine resident, if you choose NextGen as part of your college investing plan. Click here to visit FAMEmaine.com to learn more.

Are You an Account Owner?

Get more information on account servicing and options like automatic contributions. Learn More>>

More Questions?
Visit the FAQ Page for answers to the most common NextGen and 529 Plan questions. Or contact NextGen at 1-877-4-NEXTGEN (877-463-9843) with any additional questions you might have.

Please remember there's always the potential of losing money when you invest in securities.


Important Notice: The NextGen College Investing Plan® does not endorse or promote any third-party Web sites, referred to as “accommodators,” that provide services to facilitate contributions to a NextGen account. These accommodators may charge fees in connection with their services. Neither the Finance Authority of Maine (FAME) nor Merrill Lynch has authorized any accommodator or other third-party Web site to promote or submit contributions to a NextGen account. Anyone who chooses to contribute through these Web sites submits contributions at their own risk, and proper credit or investment to the account cannot be guaranteed or confirmed by Merrill Lynch or FAME.

If you would like to make regular automated contributions to a NextGen account, please visit the Account Servicing Forms page of our Web site for more information on the Automated Funding Service or Payroll Deduction contributions through your employer.