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529 PLANS

Path2College 529 Plan

Georgia

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.

5-Cap Rating

Resident:
Non-Resident:

Savingforcollege.com's 5-Cap Ratings provides an evaluation and comparison of 529 plans, utilizing a formula that examines dozens of factors grouped into the following categories. (Scale 0 to 5; 5 is highest)

Performance Costs Features Reliability Resident Upgrade
N/A 4.18 2.67 4.30 0.40

General

Program type:

Savings

How to enroll:

Enroll directly with the program.

Initial year of operation:

2002

State agency(ies):

Georgia Higher Education Savings Plan

Program manager:

TIAA-CREF Tuition Financing, Inc.

Program distributor:

TIAA-CREF Individual & Institutional Services, LLC

Manager contract term:

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Eligibility

State residency requirements:

None

Who can be a participant/owner in the program?

U.S. citizens and resident aliens at least 18 years old, UGMA/UTMA custodians, and legal entities.

Significant time or age restrictions imposed by the program:

None

Contributions

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.

Investment Options

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).

Underlying fund allocations:

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Investment performance link:

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Portfolio Fees & Performance Lookup

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Fees & Expenses

Enrollment or application fee:

None.

Account maintenance fee:

None.

Program management fees:

0.18% 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:

0.25% - 0.38%. None for the Guaranteed Option.

Taxes and other Benefits

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.

Value of in-state tax benefits:

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State tax recapture provisions:

The principal portion of rollovers and nonqualified withdrawals from this plan are included in Georgia taxable income to the extent of prior Georgia tax deductions. Recapture also applies when previously-deducted contributions are withdrawn for expenses deducted under federal section 222.

State tax treatment of qualified distributions:

Qualified distributions from Georgia and non-Georgia 529 plans are exempt. Note: if a withdrawal from the Georgia 529 plan is non-qualified, the earnings must be reported on the account owner's, not the beneficiary's, Georgia income tax return.

State tax treatment of rollovers:

Georgia follows federal tax-free treatment except that outbound rollovers are subject to the recapture of prior state tax deductions.

Does the sponsoring state exclude the value of an account for state financial aid purposes?

Yes

Does participation in the program provide beneficiaries with any advantages in qualifying for resident tuition status at state institutions?

No

Does the program have a formal agreement with a rewards program or outside scholarship program?

No

Statutory protection of an account from creditors:

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Distributions & Terminations

To whom are distributions made payable:

Eligible educational institution or account owner, as directed by the account owner.

Account Changes

Policy regarding participant/owner changes:

Accepts requests to transfer account ownership.

Documents, Access & Reporting

Does participant have online password-protected access to account?

Yes

Can the complete enrollment process including funding be done online?

Yes

Documents and other services accessible or downloadable on the program's public Web site:

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Contact

Web site:

Click here to visit

Telephone:

1-877-424-4377

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