MI 529 Advisor Plan


MI 529 Advisor Plan, managed by TIAA-CREF Tuition Financing, Inc. and Allianz Global Investors Distributors LLC, features age-based, asset-allocation, and individual-fund portfolios using funds from Allianz, PIMCO and TIAA-CREF. To find a financial advisor in your area, use the Directory of Financial Professionals.

5-Cap Rating


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
1.17 2.21 2.87 3.80 0.40

Find an advisor

Enroll in MI 529 Advisor Plan through a financial advisor. Search our directory of qualified financial professionals to find one near you.


Program type:


How to enroll:

Enroll through a financial advisor. Find a Professional

Initial year of operation:


State agency(ies):

Michigan Department of Treasury

Program manager:

TIAA-CREF Tuition Financing, Inc. and Allianz Global Investors Distributors LLC

Program distributor:

Allianz Global Investors Distributors LLC

Manager contract term:

Through March 2017.


State residency requirements:


Who can be a participant/owner in the program?

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


Maximum contributions:

Accepts contributions until all account balances in Michigan's 529 plan for the same beneficiary reach $500,000.

Minimum contributions:

$25 per investment portfolio.

Investment Options

Age-based investment options:

The Age-Based option contains 6 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 2 multi-fund portfolios (Capital Appreciation Portfolio and Capital Preservation Portfolio) and 10 individual-fund portfolios.

Underlying investments:

Mutual funds managed by Allianz, PIMCO, and TIAA-CREF.

Underlying fund allocations:

Click here, you need Microsoft Excel to open this document.

Investment performance link:

Click here to visit, link to the program website containing most current performance data.

Portfolio Fees & Performance Lookup

Click here to visit, pricing and performance details for each portfolio in each share class. Data can be plugged into FINRA's 529 Expense Analyzer.

Fees & Expenses

Enrollment or application fee:


Account maintenance fee:


Program management fees:

All except PIMCO Short Asset Investment Portfolio:
0.60% (includes state fee of 0.05%) plus distribution fees of 0.25% (Class A) or 0.25% - 0.50% (Class C)

PIMCO Short Asset Investment Portfolio:
0.60% (includes state fee of 0.10%) plus distribution fees of 0.10%

Expenses of the underlying investments:

Ranges from 0.36% to 0.61% (portfolio weighted average) in the age-based, 0.36% to 0.61% in the static multi-fund portfolios, and from 0.06% to 0.97% in the individual-fund portfolios.

Total asset-based expense ratio:

Class A: 0.86% - 1.77%
Class C: 0.91% - 1.85%

Broker loads and commissions:

PIMCO Short Asset Investment portfolio: No sales charge or CDSC; dealer receives 0.10% annual trail beginning immediately

All other investment options:

Class A:
Maximum initial sales charge: 4.50%
Dealer: 3.75% commission and 0.25% annual trail beginning immediately

Class C:
CDSC: 0.33% - 0.65% within the first year only
Dealer: 0.33% - 0.65% commission and 0.33% - 0.65% annual trail beginning in month 13

Breakpoint pricing:

Class A sales load (dealer commission):
Less than $25,000 - 4.50% (3.75%)
$25,000 - $99,999 - 4.25% (3.75%)
$100,000 - $249,999 - 3.50% (3.00%)
$250,000 - $499,999 - 2.50% (2.00%)
$500,000 - $999,999 - 2.00% (1.75%)
$1,000,000 or more - 0.00% (0.50%)

Does breakpoint pricing include non-529 assets under rights of accumulation policies


Taxes and other Benefits

Program match on contributions:


State tax deduction or credit for contributions:

Contributions to a Michigan's 529 savings plan of up to $5,000 per year by an individual, and up to $10,000 per year by a married couple filing jointly, are deductible in computing Michigan taxable income. Contributions must be reduced by qualified withdrawals during the year for purposes of determining the amount that may be deducted. Rollover contributions are not deductible, according to the Michigan Department of Treasury. Contribution deadline is December 31.

Value of in-state tax benefits:

Investment time horizon:
18 yrs (i.e. newborn): 0.18% annualized
10 yrs (i.e. 8-yr old): 0.33% annualized
2 yrs (i.e. 16-yr old): 1.68% annualized
Based on 4.25% MI tax rate. (For assumptions see 529 State Tax Calculator.)

State tax recapture provisions:

The principal portion of nonqualified withdrawals from this plan are included in Michigan taxable income to the extent of prior Michigan tax deductions. Qualified rollovers are not subject to recapture.

State tax treatment of qualified distributions:

Qualified distributions from Michigan and non-Michigan 529 plans are exempt. Also excluded are distributions made due to the beneficiary's death, disability, scholarship, or attendence at one of the U.S. military academies.

State tax treatment of rollovers:

Michigan follows federal tax-free treatment.

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


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


Statutory protection of an account from creditors:


Distributions & Terminations

To whom are distributions made payable:

Eligible educational institution, beneficiary, institution and beneficiary jointly, 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?


Can the complete enrollment process including funding be done online?


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

Plan Disclosure Statement


Web site:

Click here to visit



Telephone for broker use:


State News

Search our directory of qualified financial professionals to find one near you!

Find a Financial Professional Now Become a Financial Professional

Continue to SavingForCollege.com

...in a few seconds you will be forwarded automatically.