The Texas College Savings plan, managed by an OppenheimerFunds affiliate, offers two age-based investment options and eight static options using underlying investments managed by OppenheimerFunds, Dreyfus, Thornburg, TIAA-CREF, and Vanguard.
- Summary: The Texas College Savings plan, managed by an OppenheimerFunds affiliate, offers two age-based investment options and eight static options using underlying investments managed by OppenheimerFunds, Dreyfus, Thornburg, TIAA-CREF, and Vanguard.
- Program type: Savings
- Telephone: 1-800-445-4723, option 3
- Web site: Click here to visit
- Program manager: OFI Private Investments, Inc., a subsidiary of OppenheimerFunds, Inc.
- State residency requirements: None
- Maximum contributions: Accepts contributions until all account balances in Texas' 529 plans for the same beneficiary reach $370,000.
- Minimum contributions: $25 per portfolio, or $15 per portfolio with the automatic contribution plan.
- Age-based investment options: Select either the Blended Age-based Portfolios, which offers underlying investments that are both actively and passively managed, or the Index Age-Based Portfolios, which offers passively managed investments. Each option consists of 6 portfolios of underlying investments. Contributions are placed into the portfolio that corresponds to the age of the beneficiary. The portfolios automatically shift to a more conservative investment allocation over time.
- Static investment options: Select among 4 multi-fund portfolios (two of which use only index funds), 2 individual-fund bond portfolios, and the Money Market and U.S. Government Money Market Portfolios.
- Underlying investments: Mutual funds and investment strategies managed by OppenheimerFunds, The Dreyfus Corporation, TIAA-CREF, Thornburg Investments and Vanguard.
- Enrollment or application fee: None.
- Account maintenance fee: None.
- Program management fees: 0.15% manager fee for the Index Portfolios and 0.25% manager fee (including 0.10% state administrative fee) for the Blended Portfolios and Individual Fund Portfolios.
- Expenses of the underlying investments: 0.36% to 0.39% in the Index portfolios; 0.38% to 0.57% in the Blended Portfolios; and 0.17% to 0.45% in the Individual Fund Portfolios.
- Total asset-based expense ratio: 0.42% - 0.82%
- Program match on contributions: None.
- State tax deduction or credit for contributions: Not applicable. Texas does not have a personal income tax.