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Vermont Higher Education Investment Plan

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(Resident Rating) (Non-Resident Rating)

The Vermont Higher Education Investment Plan features age-based and static options using TIAA-CREF mutual funds and a principal-protected account.

Program Details
Summary: The Vermont Higher Education Investment Plan features age-based and static options using TIAA-CREF mutual funds and a principal-protected account.
Program type: Savings
Program manager: TIAA-CREF Tuition Financing, Inc.
State residency requirements: None
Maximum contributions: Accepts contributions until all account balances in Vermont's 529 plan for the same beneficiary reach $352,800.
Minimum contributions: $25, or $15 per pay period via payroll deduction.
Age-based investment options: The Managed Allocation 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: Choose from among 4 multi-fund options (the Diversified Equity Option, the Equity Index Option, the Balanced Option, and the Fixed Income Option), and the Principal Plus Interest Option which guarantees principal and a stated rate of interest.
Underlying investments: TIAA-CREF institutional mutual funds; the Principal Plus Interest Option is issued by TIAA-CREF Life Insurance Company.
Enrollment or application fee: None.
Account maintenance fee: None.
Program management fees: 0.45% management fee includes underlying mutual fund expenses; 0.40% manager fee for static fund options does not include underlying fund expenses; no fee for the Principal Plus Interest Option.
Expenses of the underlying investments: Included in the program manager fee for the age-based option. For the static fund options, underlying expenses range from 0.08% to 0.36%.
Total asset-based expense ratio: 0.45% - 0.76%. None for the Principal Plus Interest Option.
Program match on contributions: None.
State tax deduction or credit for contributions: Contributions to the Vermont 529 plan of up to $2,500 per beneficiary per year by an individual, and up to $5,000 per beneficiary per year by married taxpayers who each make their own contributions, are eligible for a 10% tax credit against Vermont income tax. Only contributions made by the account owner, and by a non-account owner who files a joint return with the account owner, are eligible for the credit. The principal portion of a rollover from another 529 plan is eligible for the credit, provided the funds rema in the account for the remainder of the taxable year. Contribution deadline is December 31.
Web site: Click here to visit
Telephone: 1-800-637-5860
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