The Georgia Path2College 529 Plan, a TIAA-managed 529 savings program features two age-based options and five fixed options including a guaranteed option with interest at a rate between 1% and 3% as declared each October.
- Summary: The Georgia Path2College 529 Plan, a TIAA-managed 529 savings program features two age-based options and five fixed options including a guaranteed option with interest at a rate between 1% and 3% as declared each October.
- Program type: Savings
- Telephone: 1-877-424-4377
- Web site: Click here to visit
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- Program manager: TIAA-CREF Tuition Financing, Inc.
- State residency requirements: None
- Maximum contributions: Accepts contributions until all account balances in Georgia's 529 plan for the same beneficiary reach $235,000.
- Minimum contributions: $25, or $15 per pay period via payroll deduction.
- Age-based investment options: Choose between the Managed Allocation Option and the Aggressive Managed Allocation Option, each containing 9 portfolios of underlying mutual funds. Under either option, 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 3 multi-fund portfolios (the 100% Equity Option, the Balanced Fund Option, and the 100% Fixed Income Option), the Guaranteed Option, and the Money Market 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 a minimum 1% - 3% annual rate of interest (actual rate, which may be greater, is declared annually).
- Enrollment or application fee: None.
- Account maintenance fee: None.
- Program management fees: 0.21% manager fee, including 0.06% administration fee; none for the Guaranteed Option.
- Expenses of the underlying investments: Ranges from 0.07% to 0.20%; none for the Guaranteed Option.
- Total asset-based expense ratio: 0.28% - 0.41%. None for the Guaranteed Option.
- Program match on contributions: None.
- State tax deduction or credit for contributions: Contributions to the Georgia 529 plan of up to $2,000 per beneficiary per year (any filing status) are deductible in computing Georgia taxable income. Contribution deadline is April 15 of the following year.