College & Career


Connecticut Higher Education Trust (CHET)
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Similar to other TIAA-managed 529 savings programs, the Connecticut Higher Education Trust (CHET) features three age-based options along with eight static investment options.

Program Details
  • Summary: Similar to other TIAA-managed 529 savings programs, the Connecticut Higher Education Trust (CHET) features three age-based options along with eight static investment options.
  • Program type: Savings
  • Program manager: TIAA-CREF Tuition Financing, Inc.
  • State residency requirements: None
  • Maximum contributions: Accepts contributions until all account balances in Connecticut's 529 plan for the same beneficiary reach $300,000.
  • Minimum contributions: $25, or $15 per pay period via payroll deduction.
  • Age-based investment options: Three age-based options, the Moderate Managed Allocation Option, Conservative Managed Allocation Option and the Aggressive Managed Allocation Option, are offered, each containing 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: Four static blend and five individual options are offered plus the Principal Plus Interest Option, and the Money Market Option.
  • Underlying investments: TIAA-CREF institutional mutual funds and funds from seven outside mutual fund families, BlackRock, Harding Loevner, GMO, DFA, GE, MetWest, T Rowe Price, & Franklin Templeton. The Principal Plus Interest Option is invested in a funding agreement with TIAA-CREF Life Insurance Company that guarantees principal and a minimum annual rate of interest (actual rate is declared annually).
  • Enrollment or application fee: None.
  • Account maintenance fee: None.
  • Program management fees: 0.15% manager fee and a 0.01% fee to the state. None for the Principal Plus Interest option; currently waived for the Money Market Option.
  • Expenses of the underlying investments: Ranges from 0.15% to 0.38% for the age-based options, and from 0.08% to 0.91% for static options. None for the Principal Plus Interest option.
  • Total asset-based expense ratio: 0.21% - 1.07%; 0.13% for the Money Market option with waiver. None for Principal Plus Interest Option.
  • Program match on contributions: Connecticut will provide $100 to families that open a 529 college savings account by their child's first birthday or within the first year after an adoption. Families that save an additional $150 in the first four years will receive a state match of $150, for a total of $250 in state funds.
  • State tax deduction or credit for contributions: Contributions to a Connecticut 529 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 Connecticut taxable income, with a five-year carryforward of excess contributions. Rollover contributions are not deductible. Contribution deadline is December 31 postmark if by mail, or final business day of the year if by electronic payment.
  • Web site: Click here to visit
  • Telephone: 1-888-799-2438
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The information contained in this material and related materials ("Information") is based on information from sources believed to be accurate and reliable and every reasonable effort has been made to make the Information as complete and accurate as possible but such completeness and accuracy cannot and is not guaranteed. The reader and user of the Information should use the Information as a general guide and not as the ultimate source of information. The Information is not intended to include every possible bit of information regarding the Information but rather to complement and supplement information otherwise available and the reader and user should use the Information accordingly. The Information contains information about tax and other laws and these laws may change. The reader and user should realize that any investment involves risk and the assumptions and projections used in the Information may not be how the investments turn out. The reader and user should consult with their own tax, financial and legal advisors about all of the Information.

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