NEXT
Compare 529 Plans
Plan
Georgia
Summary
The Georgia Path2College 529 Plan, a TIAA-managed 529 savings program, features a year of enrollment track with 10 portfolios and six static investment options including a Principal Plus Interest Portfolio with a minimum effective annual interest rate between 1% and 3%.
Program type
Savings
How to enroll
Enroll directly with the program.
Initial year of operation
2002
State agency(ies)
Georgia Higher Education Savings Plan Board
Program manager
TIAA-CREF Tuition Financing, Inc.
Program distributor
TIAA-CREF Individual & Institutional Services, LLC
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
Maximum contributions
Accepts contributions until all account balances in Georgia's 529 plan for the same beneficiary reach $235,000.
Minimum contributions
$25 (any dollar amount is accepted for contributions made via payroll direct deposit).
Does the program offer an e-gifting platform for receiving gift contributions?
Yes
Age-based/Enrollment Year investment options
Choose among 10 Enrollment Year Investment Portfolios. Contributions are placed into the portfolio corresponding to the number of years to expected enrollment based on the age of the beneficiary or as selected by the account owner. Nine portfolios shift to a more conservative or less aggressive investment allocation as the beneficiary approaches college age, eventually transferring to the In School Enrollment portfolio.
Static investment options
Select among 4 multi-fund portfolios (Balanced Allocation, 100% Fixed Income, Conservative Allocation, and High Equity Allocation), one individual fund (U.S. Equity Index) and the Principal Plus Interest Portfolio.
Underlying investments
TIAA-CREF, DFA and Vanguard mutual funds; the Principal Plus Interest Portfolio 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 in advance for a period of 12 months).
Enrollment or application fee
None.
Account maintenance fee
None.
Program management fees
0.03% manager fee. None for the Principal Plus Interest Portfolio.
Expenses of the underlying investments
0.02% to 0.08%; none for the Principal Plus Interest Option.
Total asset-based expense ratio
0.06% - 0.12%. None for the Principal Plus Interest Option.
Program match on contributions
None.
State tax deduction or credit for contributions
Contributions to the Georgia 529 plan of up to $4,000 per beneficiary per year for those filing a single return and $8,000 per year per beneficiary for those filing a joint return are deductible in computing Georgia taxable income. Incoming rollovers from other 529 plans do not qualify as contributions eligible for the state income tax deduction. Contribution deadline is April 15 of the following year.
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 definition of qualified expenses
The state conforms with the federal definition of qualified education expenses, which includes expenses for higher education, apprenticeship programs, interest and/or principal on qualified education loans up to a $10,000 lifetime cap, and up to $10,000 per year in tuition in connection with enrollment or attendance at an elementary or secondary public, private, or religious school. Distributions from a 529 account directly to a Roth IRA are considered a qualified expense for state income tax purposes.
State tax treatment of qualified distributions
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.
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
Is there a rewards program or outside scholarship program that works with this program?
No
To whom are distributions made payable
Eligible educational institution or account owner, as directed by the account owner. Distributions may be made payable to the Beneficiary. Note, non qualified withdrawals and withdrawals for K-12 expenses are payable to the account owner only.
Policy regarding participant/owner changes
Accepts requests to transfer account ownership.
Does participant have online password-protected access to account?
Yes
Can the complete enrollment process including funding be done online?
Yes
Website
Telephone
1-877-424-4377