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Mississippi


MACS 529 Advisor Program


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

Summary
The MACS 529 Advisor Program was terminated on May 17, 2013 and each account in the MACS Advisor Program was automatically transferred to the MACS Direct Program.

Program Details
Summary: The MACS 529 Advisor Program was terminated on May 17, 2013 and each account in the MACS Advisor Program was automatically transferred to the MACS Direct Program.
Program type: Savings
Program manager: TIAA-CREF Tuition Financing, Inc.
State residency requirements: None
Maximum contributions: Accepts contributions until all account balances in Mississippi's 529 plans for the same beneficiary reach $235,000.
Minimum contributions: The minimum initial contribution is $3,000 ($1,000 per investment option), and the minimum subsequent contribution is $25 per investment option.
Age-based investment options: None.
Static investment options: Select among the Balanced Option (a multi-fund portfolio), 6 individual-fund portfolios, and the Guaranteed Option
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 an annual rate of interest of 1% to 3% (actual rate is declared annually).
Enrollment or application fee: None, but contributions are subject to a sales charge.
Account maintenance fee: $25 for accounts below $25,000.
Program management fees: 0.70% manager fee. No fee for the Guaranteed Option.
Expenses of the underlying investments: Ranges from 0.07% to 0.54%. None for the Guaranteed Option.
Total asset-based expense ratio: 0.77% - 1.24%. None for the Guaranteed Option.
Program match on contributions: None.
State tax deduction or credit for contributions: Contributions to a Mississippi 529 savings plan of up to $10,000 per year by an individual, and up to $20,000 per year by a married couple filing jointly, are deductible in computing Mississippi taxable income. Contribution deadline is April 15 of the following year.
Web site: Click here to visit
Telephone: 1-877-238-7529
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