College & Career

Tennessee

TNStars College Savings 529 Program
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Summary

The TNStars College Savings 529 Program is administered by the Tennessee Treasury Department. It features an age-based option, individual investment options with underlying funds from a range of fund companies including Vanguard, DFA, Primecap, and Great-West, and an interest bearing account option with First Tennessee Bank.

Program Details
  • Summary: The TNStars College Savings 529 Program is administered by the Tennessee Treasury Department. It features an age-based option, individual investment options with underlying funds from a range of fund companies including Vanguard, DFA, Primecap, and Great-West, and an interest bearing account option with First Tennessee Bank.
  • Program type: Savings
  • Program manager: State of Tennessee Treasury Department
  • State residency requirements: None
  • Maximum contributions: $235,000 including all accounts in the program and any accounts in Tennessee's BEST Prepaid Program held for the same beneficiary
  • Minimum contributions: The minimum initial or subsequent contribution to an account for each investment option is $25. Once an initial contribution is made to the account, there are no required subsequent contributions.
  • Age-based investment options: An age-based option offers five age bands. Contributions are placed into the portfolio corresponding to the beneficiary's age and automatically shift to a more conservative portfolio over time.
  • Static investment options: Select among 13 individual options investing in Vanguard, DFA, Great-West or Primecap funds, or an interest bearing account option with First Tennessee Bank National Association.
  • Underlying investments: Vanguard and DFA in the age-based option; Vanguard, DFA, Great-West, and Primecap in the individual options
  • Enrollment or application fee: None
  • Account maintenance fee: None
  • Program management fees: 0.00% - 0.30%
  • Expenses of the underlying investments: Ranges from 0.10% to 0.26% in the age-based option; 0.05% to 1.00% in the individual options.
  • Total asset-based expense ratio: 0.35% to 1.00%, none for the interest bearing account.
  • Program match on contributions: Account owners who are Tennessee residents receive $100 with a rollover of an entire account balance from an existing college savings plan, including other 529 plans and the BEST Prepaid Plan. Account owners can also receive $100 for beginning automatic contribution from a checking or savings account.

    Under the Tennessee Investments Preparing Scholars Program, eligible families can receive a matching contribution of $100 for a minimum $25 investment, or $500 for a minimum $125 investment. Families can reapply each year, up to a $1,500 maximum benefit per child.
  • State tax deduction or credit for contributions: Not applicable. Tennessee does not have a personal income tax.
  • Web site: Click here to visit
  • Telephone: 855-386-7827
  • Twitter Click here to visit
  • Facebook Click here to visit
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