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Kentucky Education Savings Plan Trust

Kentucky

The Kentucky Education Savings Plan Trust is similar to other TIAA-managed 529 savings programs. The Plan features an age-based option, two 100% equity options, a balanced option, a fixed income option, and a guaranteed option.

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
2.77 2.79 3.00 3.70 0.20

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General

Program type:

Savings

How to enroll:

Enroll directly with the program. Enroll Now

Initial year of operation:

1990

State agency(ies):

Kentucky Higher Education Assistance Authority

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 Kentucky's 529 plans for the same beneficiary reach $235,000.

Minimum contributions:

$25, or $15 per pay period via payroll deduction.

Investment Options

Age-based investment options:

The Managed Allocation 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 2 100% equity options (one using actively managed funds and the other using mostly index funds), a balanced option, a fixed income option, 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, until January 2010, a minimum 3% annual rate of interest (actual rate 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:

0.60% manager fee for the Managed Allocation option includes underlying fund expenses; 0.47% manager fee for the Equity Index, Balanced, and Fixed Income options, and 0.38% fee for the Active Equity Option, do not include underlying fund expenses. No fee for the Guaranteed Option.

Expenses of the underlying investments:

Managed Allocation Option: included in the program management fee.
100% equity options: Ranges from 0.09% to 0.53%
Balanced Option: 0.28%
Fixed Income Option: 0.17%

Total asset-based expense ratio:

0.56% - 0.91%. None for the Guaranteed Option.

Taxes and other Benefits

Program match on contributions:

None.

State tax deduction or credit for contributions:

None.

State tax treatment of qualified distributions:

Qualified distributions from Kentucky and non-Kentucky 529 plans are exempt.

State tax treatment of rollovers:

Kentucky follows federal tax-free treatment.

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?

Yes, beneficiaries with eight years of program participation and $2,400 in total contributions who move out-of-state remain eligible for resident tuition rates at Kentucky public institutions

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:

visit Enroll Now

Telephone:

1-877-598-7878

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