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ScholarShare 529

4.5 / 5

Our rating

Basic CA resident benefits

CA resident benefits

California's ScholarShare 529 is available to residents of any state. It offers a variety of investment options from TIAA-CREF, T. Rowe Price, Vanguard and others. While California does not offer a state tax deduction for contributions to the plan, Scholarshare allows contributions of any dollar amount, making it easy to get started.

ScholarShare 529Top of the Class

KEY METRICS

OVERVIEW

Program type

Savings

Inception

1999

State agency

The ScholarShare Investment Board (SIB) chaired by the State Treasurer

Tax deduction

For single filers: None

For joint filers: None

Program manager

TIAA-CREF Tuition Financing, Inc. (TFI)

Program distributor

TIAA-CREF Tuition Financing, Inc. (TFI)

Manager contract term

MORE INFORMATION

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, emancipated minors, 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 California's 529 plans for the same beneficiary reach $529,000.

Minimum contributions:

Any dollar amount

Does the program offer an e-gifting platform for receiving gift contributions?

This plan offers a robust gifting platform that allows gift-givers to save their own profile for recurring or future contributions.

SPONSORED

Other great plans to consider

You are not limited to your own state's 529 plan, so compare the plan and tax benefits offered by your state to other options. Here are some plans that are available to residents of any state and have earned awards in our 529 Plan Ratings:

Investment Options

Investors in ScholarShare 529 can select from the following investment options. Click on a portfolio name for more information.

Choose between 3 enrollment year-based options, one invested in actively-managed mutual funds, one invested in index mutual funds and another invested in funds that consider ESG criteria. Contributions are placed into the portfolio corresponding to the beneficiary's expected year of enrollment.
PortfolioE.R. % Equity1yr performance
2036/2037 Enrollment Portfolio Active0.38%74%6.58%
2034/2035 Enrollment Portfolio Active0.38%70%6.56%
2032/2033 Enrollment Portfolio Active0.38%64%6.59%
2030/2031 Enrollment Portfolio Active0.39%54%6.52%
2028/2029 Enrollment Portfolio Active0.38%40.75%6.22%
2026/2027 Enrollment Portfolio Active0.29%28.35%5.42%
Enrollment Year Portfolio Active0.24%13.9%4.55%
2034/2035 Enrollment Portfolio Passive0.08%70%6.95%
2032/2033 Enrollment Portfolio Passive0.08%64%6.84%
2030/2031 Enrollment Portfolio Passive0.08%54%6.67%
2028/2029 Enrollment Portfolio Passive0.07%40.75%6.3%
2026/2027 Enrollment Portfolio Passive0.05%28.35%5.41%
Enrollment Year Portfolio Passive0.04%13.9%4.52%
2036/2037 Enrollment Portfolio Passive0.08%74%6.96%
2038/2039 Enrollment Portfolio Active0.37%78%6.62%
2038/2039 Enrollment Portfolio Passive0.08%78%6.95%
2026/2027 Enrollment Portfolio ESG0.18%30.5%4.49%
2028/2029 Enrollment Portfolio ESG0.22%42%4.78%
2030/2031 Enrollment Portfolio ESG0.25%54%4.75%
2032/2033 Enrollment Portfolio ESG0.25%64%4.85%
2034/2035 Enrollment Portfolio ESG0.26%70%4.81%
2036/2037 Enrollment Portfolio ESG0.26%74%4.77%
2038/2039 Enrollment Portfolio ESG0.26%78.05%4.64%
Enrollment Year Portfolio ESG0.14%15%3.88%
2040/2041 Enrollment Portfolio Active0.37%80%6.67%
2040/2041 Enrollment Portfolio ESG0.26%80%4.73%
2040/2041 Enrollment Portfolio Passive0.07%80%7.09%
2042/2043 Enrollment Portfolio Active0.37%N/AN/A
2042/2043 Enrollment Portfolio Passive0.07%N/AN/A
2042/2043 Enrollment Portfolio ESG0.26%N/AN/A

Age-based/Enrollment Year investment options:

Choose between 3 enrollment year-based options, one invested in actively-managed mutual funds, one invested in index mutual funds and another invested in funds that consider ESG criteria. Contributions are placed into the portfolio corresponding to the beneficiary's expected year of enrollment.

Static investment options:

Select among 8 multi-fund portfolios, 5 individual-fund portfolios (including the Social Choice Equity Portfolio), and a principal protection portfolio.

Underlying investments:

T. Rowe Price, TIAA-CREF, DFA, Vanguard, MetWest, PIMCO. The Principal Plus Interest Option is provided through a funding agreement with TIAA-CREF Life.

Underlying fund allocations:

Portfolio Fees & Performance Lookup

Fees & Expenses

Enrollment or application fee:

None.

Account maintenance fee:

None.

Program management fees:

Program management fees: 0.05% (includes 0.04% state fee) for Active, ESG and Social Choice Portfolios; 0.01% for Passive and Index Portfolios (no state fee); None for the Principal Plus Interest Portfolio.

Expenses of the underlying investments:

Expenses of the underlying investments: Ranges from 0.10% to 0.37% for Active, ESG and Social Choice Portfolios,0.03% to 0.07% for Passive and Index Portfolios

Total asset-based expense ratio:

0.04% - 0.42%. None for the Principal Plus Interest Portfolio.

Taxes and other Benefits

Tax deduction for single filers:

None

Tax deduction for joint filers:

None

Note:

California doesn't offer tax deductions

Program match on contributions:

None

State tax deduction or credit for contributions:

None

State tax recapture provisions:

N/A

State definition of qualified expenses

The state's definition of qualified education expenses currently includes expenses for attendance at an institution of higher education as defined by the Internal Revenue Code and its regulations addressing qualified state tuition programs or participation in an apprenticeship program, and interest and/or principal on qualified education loans up to a $10,000 lifetime cap. This does not include tuition for elementary or secondary education. Distributions from a 529 account directly to a Roth IRA are not considered a qualified expense for state income tax purposes.

State tax treatment of qualified distributions:

Qualified distributions from California and non-California 529 plans are exempt.

State tax treatment of rollovers:

California follows federal tax-free treatment.

Does the sponsoring state exclude the value of an account for state financial aid purposes?

No,, but California excludes 529 plans when considering eligibility for Medi-Cal.

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?

Yes, the Upromise Rewards program can be linked to any 529 college savings plan. Upromise Rewards is free to join and offers members cash back for college.

Statutory protection of an account from creditors:

Distributions & Terminations

To whom are distributions made payable:

Beneficiary, eligible educational institution or account owner, as directed by the account owner.

Account Changes

Policy regarding participant/owner changes:

Accepts requests to change account owner.

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:

Contact

Website:

https://scholarshare529.com/

Telephone:

1-800-544-5248

Twitter

http://twitter.com/scholarshare529

Social Media

http://www.facebook.com/scholarshare529

A good place to start:

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