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Path2College 529 Plan
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.
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)
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.
Enroll directly with the program.
Georgia Higher Education Savings Plan
TIAA-CREF Tuition Financing, Inc.
TIAA-CREF Individual & Institutional Services, LLC
Through July 1, 2016 with an option to renew for an additional five years subject to certain conditions.
U.S. citizens and resident aliens at least 18 years old, UGMA/UTMA custodians, and legal entities.
Accepts contributions until all account balances in Georgia's 529 plan for the same beneficiary reach $235,000.
$25, or $15 per pay period via payroll deduction.
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.
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.
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).
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
0.18% manager fee, including 0.06% administration fee; none for the Guaranteed Option.
Ranges from 0.07% to 0.20%; none for the Guaranteed Option.
0.25% - 0.38%. None for the Guaranteed Option.
Taxes and other Benefits
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.
Investment time horizon:
18 yrs (i.e. newborn): 0.26% annualized
10 yrs (i.e. 8-yr old): 0.479% annualized
2 yrs (i.e. 16-yr old): 2.36% annualized
Based on 6% GA tax rate. (For assumptions see 529 State Tax Calculator.)
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.
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.
Georgia follows federal tax-free treatment except that outbound rollovers are subject to the recapture of prior state tax deductions.
Does participation in the program provide beneficiaries with any advantages in qualifying for resident tuition status at state institutions?
Distributions & Terminations
Eligible educational institution or account owner, as directed by the account owner.
Accepts requests to transfer account ownership.
Documents, Access & Reporting