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Michigan


MI 529 Advisor Plan


5 Cap Ratings
(Resident Rating) (Non-Resident Rating)

Summary
MI 529 Advisor Plan, managed by TIAA-CREF Tuition Financing, Inc. and Allianz Global Investors Distributors LLC, features age-based, asset-allocation, and individual-fund portfolios using funds from PIMCO, TIAA-CREF and the Allianz group of money management companies.

Program Details
Summary: MI 529 Advisor Plan, managed by TIAA-CREF Tuition Financing, Inc. and Allianz Global Investors Distributors LLC, features age-based, asset-allocation, and individual-fund portfolios using funds from PIMCO, TIAA-CREF and the Allianz group of money management companies.
Program type: Savings
Program manager: TIAA-CREF Tuition Financing, Inc. and Allianz Global Investors Distributors LLC
State residency requirements: None
Maximum contributions: Accepts contributions until all account balances in Michigan's 529 plan for the same beneficiary reach $235,000.
Minimum contributions: $25 per investment portfolio.
Age-based investment options: The Age-Based option contains 6 portfolios of underlying mutual funds. 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.
Static investment options: Select among 2 multi-fund portfolios (Capital Appreciation Portfolio and Capital Preservation Portfolio) and 12 individual-fund portfolios.
Underlying investments: Mutual funds managed by TIAA-CREF, Allianz-affiliated companies and PIMCO.
Enrollment or application fee: None.
Account maintenance fee: None.
Program management fees: All except TIAA-CREF Money Market Portfolio:
0.60% (includes state fee of 0.10%) plus distribution fees of 0.25% (Class A) or 0.33% - 0.65% (Class C)

TIAA-CREF Money Market Portfolio:
0.60% (includes state fee of 0.10%) plus distribution fees of 0.10%
Expenses of the underlying investments: Ranges from 0.45% to 0.60% (portfolio weighted average) in the age-based, 0.47% to 0.61% in the static multi-fund portfolios, and from 0.07% to 1.01% in the individual-fund portfolios.
Total asset-based expense ratio: Class A: 0.84% - 1.86%
Class C: 0.84% - 1.94%
Program match on contributions: None.
State tax deduction or credit for contributions: Contributions to a Michigan's 529 savings plan of up to $5,000 per year by an individual, and up to $10,000 per year by a married couple filing jointly, are deductible in computing Michigan taxable income. Contributions must be reduced by qualified withdrawals during the year for purposes of determining the amount that may be deducted. Rollover contributions are not deductible, according to the Michigan Department of Treasury. Contribution deadline is December 31.
Web site: Click here to visit
Telephone: 1-866-529-8818
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