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Path2College 529 Plan
Georgia
This TIAA-managed 529 savings program features two age-based options and five fixed options including a guaranteed option with minimum 3% annual interest.
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General
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.
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:
Premium subscription required for this data.
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 six 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 three 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:
Premium subscription required for this data.
Portfolio Fees & Performance Lookup
Premium subscription required for this data.
Fees & Expenses
Enrollment or application fee:
None
Account maintenance fee:
None
Program management fees:
0.65% manager fee for the age-based options includes underlying fund expenses; 0.42% manager fee for the fixed options does not include underlying fund expenses; none for the Guaranteed Option.
Expenses of the underlying investments:
Included in the program manager fee for the age-based options; approximate range 0.07% - 0.33% for the fixed options.
Total asset-based expense ratio:
0.49% - 0.75%; none for Guaranteed Option
Taxes and other Benefits
Program match on contributions:
None
State tax deduction or credit for contributions:
Contributions to Georgia's 529 plan of up to $2,000 per beneficiary per year are deductible in computing Georgia taxable income. A married couple filing jointly is limited to $2,000 per beneficiary, not $4,000. Rollover contributions are not deductible. 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:
Georgia law exempts qualified distributions from the Georgia 529 plan (via specific exclusion) and from non-Georgia 529 plans (via conformity to the federal tax exclusion). 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:
Premium subscription required for this data.
Contact
Telephone:
1-877-424-4377
Web site:
Plan News
- Georgia 529 changes name, reduces fees (12/11/2007)
- Georgia 529 partners with new rebate program (12/01/2005)
State News
- Georgia changes tax deduction limits (05/18/2007)
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