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Summary: This TIAA-managed 529 savings program features two age-based options and five fixed options including a guaranteed option with minimum 3% annual interest. |
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Program type: Savings |
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Program manager: TIAA-CREF Tuition Financing, Inc. |
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State residency requirements: None |
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Maximum contributions: Accepts contributions until all account balances in Georgia's 529 plan for the same beneficiary reach $235,000. |
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Minimum contributions: $25, or $15 per pay period via payroll deduction |
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Age-based investment options: Choose between the Managed Allocation Option and the Aggressive Managed Allocation Option, each containing six portfolios of underlying mutual funds. Under either option, contributions are placed into the portfolio corresponding to the beneficiary?s age and later reassigned to more conservative portfolios as the beneficiary approaches college age. |
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Static investment options: Select among three multi-fund portfolios (the 100% Equity Option, the Balanced Fund Option, and the 100% Fixed Income Option), the Guaranteed Option, and the Money Market Option. |
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Underlying investments: TIAA-CREF institutional mutual funds; the Guaranteed Option is invested in a funding agreement with TIAA-CREF Life Insurance Company that guarantees principal and a minimum 1% - 3% annual rate of interest (actual rate, which may be greater, is declared annually). |
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Enrollment or application fee: None |
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Account maintenance fee: None |
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Program management fees: 0.65% manager fee for the age-based options includes underlying fund expenses; 0.42% manager fee for the fixed options does not include underlying fund expenses; none for the Guaranteed Option. |
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Expenses of the underlying investments: Included in the program manager fee for the age-based options; approximate range 0.07% - 0.33% for the fixed options. |
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Total asset-based expense ratio: 0.49% - 0.75%; none for Guaranteed Option |
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Program match on contributions: None |
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State tax deduction or credit for contributions: For years beginning on or after January 1, 2007, contributions to Georgia's 529 plan of up to $2,000 per beneficiary per year are deductible in computing Georgia taxable income. A married couple filing jointly is limited to $2,000 per beneficiary, not $4,000. Beginning in 2007, income limits no longer apply. Rollover contributions are not deductible. Contribution deadline is April 15 of the following year. |
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Telephone: 1-877-424-4377 |
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Web site: Click here to visit |
