TIAA-CREF retains Connecticut 529 management contract

TIAA-CREF Tuition Financing, Inc., the 529-plan management unit of TIAA-CREF, has retained the contract to manage Connecticut's $1.2 billion 529 savings plan. The renewal contract was won through a competitive bidding process.

TFI has served as manager of the Connecticut Higher Education Trust (CHET) since 2000. Under the new contract, it is expected that the menu of investment options will be expanded and that the cost structure will be altered from the current 0.65% "all-in" fee.

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