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.
- 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
- Telephone: 1-877-238-7529
- Web site: Click here to visit
- 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.