Tennessee to close down 529 savings plan
The Tennessee State Treasurer has "endorsed" Georgia's 529 savings plan, Path2College 529 Plan, and is encouraging BEST participants to roll over their funds to the Georgia plan. Both 529 plans are managed by TIAA-CREF.
BEST will stop accepting new accounts and rollover contributions on February 22, 2008. May 1 is the last day for making contributions to existing accounts.
The decision to close Tennessee's 529 savings plan does not affect the state's prepaid tuition plan.