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California


The ScholarShare College Savings Plan


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

Summary
TIAA-CREF took over the management of the California ScholarShare College Savings Plan from Fidelity in November 2011. The plan features two age-based options; one using actively managed mutual funds and one using index mutual funds. It also offers 17 static investment options. Among the static portfolio options is a socially responsible investment option, as well as one that protects principal.

Program Details
Summary: TIAA-CREF took over the management of the California ScholarShare College Savings Plan from Fidelity in November 2011. The plan features two age-based options; one using actively managed mutual funds and one using index mutual funds. It also offers 17 static investment options. Among the static portfolio options is a socially responsible investment option, as well as one that protects principal.
Program type: Savings
Program manager: TIAA-CREF Tuition Financing, Inc. (TFI)
State residency requirements: None
Maximum contributions: Accepts contributions until all account balances in California's 529 plans for the same beneficiary reach $371,000.
Minimum contributions: With lump-sum contributions and non-payroll automatic contributions, the minimum initial contribution is $25 per investment portfolio. The minimum subsequent contribution of $25 per investment portfolio has been waived. With the payroll deduction plan, the minimum contribution level per portfolio is $15 per payroll period.
Age-based investment options: Choose between 2 age-based options, one invested in actively-managed mutual funds and the other invested in index mutual funds. Contributions are placed into the portfolio corresponding to the beneficiary's age. The portfolios automatically shift to a more conservative investment allocation over time.
Static investment options: Select among 12 multi-fund portfolios, 4 individual-fund portfolios (including the Social Choice Portfolio), and a principal-protection portfolio.
Underlying investments: Actively-managed portfolios: T. Rowe Price, TIAA-CREF, DFA, PIMCO. Index-fund portfolios: TIAA-CREF. The Principal Plus Interest Option is provided through a funding agreement with TIAA-CREF Life.
Enrollment or application fee: None.
Account maintenance fee: None.
Program management fees: 0.10% (includes 0.05% state fee); 0.05% for Passive and Single Fund Portfolios (no state fee); None for the Principal Plus Interest Portfolio.
Expenses of the underlying investments: Ranges from 0.06% to 0.13% annualized in the index fund portfolios, from 0.24% to 0.50% annualized in the actively managed fund portfolios, 0.08% to 0.18% in the passive portfolios, 0.18 in the Social Choice Portfolio, and none for the Principal Plus Interest Portfolio.
Total asset-based expense ratio: 0.11% - 0.60%. None for the Principal Plus Interest Portfolio.
Program match on contributions: None.
State tax deduction or credit for contributions: None.
Web site: Click here to visit
Telephone: 1-800-544-5248
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