College & Career


Minnesota College Savings Plan
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Minnesota College Savings Plan is a TIAA-managed 529 savings program features an age-based option and ten fixed options including a guaranteed option.

Program Details
  • Summary: Minnesota College Savings Plan is a TIAA-managed 529 savings program features an age-based option and ten fixed options including a guaranteed option.
  • Program type: Savings
  • Program manager: TIAA-CREF Tuition Financing, Inc.
  • State residency requirements: None
  • Maximum contributions: Accepts contributions until all account balances in Minnesota's 529 plan for the same beneficiary reach $350,000.
  • Minimum contributions: $25 per investment option, or $15 per investment option via payroll deduction.
  • Age-based investment options: The Managed Allocation Option contains 9 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: Select among 10 options: 9 static blend portfolios, two single fund portfolios, and the Principal Plus Interest Option.
  • Underlying investments: TIAA-CREF institutional mutual funds; the Principal Plus Interest Option is invested in a funding agreement with TIAA-CREF Life Insurance Company that guarantees principal and a minimum rate of interest (actual rate is declared annually).
  • Enrollment or application fee: None.
  • Account maintenance fee: None.
  • Program management fees: 0.15% manager fee. The manager fee includes underlying fund expenses and a 0.00754% state fee. No fee for the Principal Plus Interest Option. Manager and state fee are currently waived for the Money Market option.
  • Expenses of the underlying investments: Not applicable, included in the program management fee.
  • Total asset-based expense ratio: 0.20% to 0.34%. None for the Principal Plus Interest Option. 0.13% for the Money Market Option after fee waiver.
  • Program match on contributions: Minnesota no longer offers a matching grant. For years prior to 2011, a 15% or 10% matching grant of up to $400 per year was available to Minnesota residents, subject to income limitations.
  • State tax deduction or credit for contributions: None.
  • Web site: Click here to visit
  • Telephone: 1-877-338-4646
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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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