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The ScholarShare College Savings Plan
TIAA-CREF took over the management of the California ScholarShare College Savings Plan from Fidelity in November 2011. The plan features two age-based options; one using actively managed mutual funds and one using index mutual funds. It also offers 17 static investment options. Among the static portfolio options is a socially responsible investment option, as well as one that protects principal.
In Savingforcollege.com's latest quarterly rankings, this plan ranked in the top 10 for 1-year, 3-year, 5-year and/or 10-year performance.
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)
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Access enrollment materials and open an account with The ScholarShare College Savings Plan in just a few easy steps.Enroll Now
Did you know?
Residents are not limited to investing in their own state's plan. Another state may offer a plan that performs better and has lower fees. If there is no tax break offered for in-state investors ... shop around!
Also, the plan chosen does not affect which state the student enrolls in. An investor can live in NY, invest in a plan from NV and send a student to college in FL.
The ScholarShare Investment Board (SIB) chaired by the State Treasurer
TIAA-CREF Tuition Financing, Inc. (TFI)
TIAA-CREF Tuition Financing, Inc. (TFI)
Through November 6, 2016. At the Board's discretion, the term may be extended for five one-year periods.
U.S. citizens and resident aliens at least 18 years old, emancipated minors, UGMA/UTMA custodians, and legal entities.
Accepts contributions until all account balances in California's 529 plans for the same beneficiary reach $475,000.
With lump-sum contributions and non-payroll automatic contributions, the minimum initial contribution is $25 per investment portfolio. The minimum subsequent contribution of $25 per investment portfolio has been waived. With the payroll deduction plan, the minimum contribution level per portfolio is $15 per payroll period.
Choose between 2 age-based options, one invested in actively-managed mutual funds and the other invested in index mutual funds. Contributions are placed into the portfolio corresponding to the beneficiary's age. The portfolios automatically shift to a more conservative investment allocation over time.
Select among 12 multi-fund portfolios, 4 individual-fund portfolios (including the Social Choice Portfolio), and a principal-protection portfolio.
Actively-managed portfolios: T. Rowe Price, TIAA-CREF, DFA, PIMCO. Index-fund portfolios: TIAA-CREF. The Principal Plus Interest Option is provided through a funding agreement with TIAA-CREF Life.
Click here, you need Microsoft Excel to open this document.
Click here to visit, link to the program website containing most current performance data.
Fees & Expenses
0.10% (includes 0.05% state fee); 0.05% for Passive and Single Fund Portfolios (no state fee); None for the Principal Plus Interest Portfolio.
Ranges from 0.05% to 0.12% annualized in the index fund portfolios, from 0.23% to 0.49% annualized in the actively managed fund portfolios, 0.07% to 0.17% in the passive portfolios, 0.18 in the Social Choice Portfolio, and none for the Principal Plus Interest Portfolio.
0.10% - 0.59%. None for the Principal Plus Interest Portfolio.
Taxes and other Benefits
There is no state tax deduction and therefore no recapture. However, a non-qualified withdrawal by a California taxpayer is subject to an additional 2.5% California penalty tax on the earnings portion, but only if subject to the the additional 10% federal additional penalty tax.
Qualified distributions from California and non-California 529 plans are exempt.
California follows federal tax-free treatment.
Does participation in the program provide beneficiaries with any advantages in qualifying for resident tuition status at state institutions?
Distributions & Terminations
Beneficiary, eligible educational institution or account owner, as directed by the account owner.
Accepts requests to change account owner.
Documents, Access & Reporting
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