General InformationDownload PDF Report
Connecticut Higher Education Trust (CHET)
Similar to other TIAA-managed 529 savings programs, the Connecticut Higher Education Trust (CHET) features three age-based options along with eight static investment options.
- Program typeSavings
- State agencyConnecticut State Treasurer
- Tax deduction
- Program ManagerTIAA-CREF Tuition Financing, Inc.
- Program distributorTIAA-CREF Individual & Institutional Services, LLC
- Manager contract termUNLOCK PRO
Ratings & Rankings
Our overall rating for non-residents
This program is not open to you either because it has residency requirements or because it has stopped accepting new enrollments.
Each plan's performance score is developed directly from Savingforcollege.com's Quarterly 529 Performance Rankings. A 529 savings plan must have at least one year of performance history before they will be assigned a 5-cap rating. For those plans that are not part of our quarterly performance rankings, such as plans offering a single set of bank-based investment options, we assign a performance score by evaluating the returns currently available on similar types of investments outside of 529 plans.
State residency requirements:The account owner must have a Connecticut mailing address or be a Connecticut resident on active duty in the U.S. armed forces.
Who can be a participant/owner in the program?Any U.S. citizen or resident alien with a valid Social Security number or taxpayer identification number.
Significant time or age restrictions imposed by the program:None
Alternative 529 Plans
Other great plans to consider
You are not limited to opening your own state's 529 plan, so shop around. Here are some highly rated options to consider:
Maximum contributions:Accepts contributions until all account balances in Connecticut's 529 plan for the same beneficiary reach $300,000.
Minimum contributions:$25, or $15 per pay period via payroll deduction.
Age-based investment options:Three age-based options, the Moderate Managed Allocation Option, Conservative Managed Allocation Option and the Aggressive Managed Allocation Option, are offered, each containing 9 portfolios of underlying mutual funds. 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.View more age-based investment options
Static investment options:Four static blend and five individual options are offered plus the Principal Plus Interest Option, and the Money Market Option.View more static investment options
Underlying investments:TIAA-CREF institutional mutual funds and funds from seven outside mutual fund families, BlackRock, Harding Loevner, GMO, DFA, GE, MetWest, T Rowe Price, & Franklin Templeton. The Principal Plus Interest Option is invested in a funding agreement with TIAA-CREF Life Insurance Company that guarantees principal and a minimum annual rate of interest (actual rate is declared annually).View a full list of this plan's investment options
Underlying fund allocations:UNLOCK PRO
Portfolio Fees & Performance LookupUNLOCK PRO
Fees & Expenses
Enrollment or application fee:None.
Account maintenance fee:None.
Program management fees:0.12% manager fee and a 0.01% fee to the state. None for the Principal Plus Interest option; currently waived for the Money Market Option.
Expenses of the underlying investments:Ranges from 0.08% to 0.30% for the age-based options, and from 0.08% to 1.01% for static options. None for the Principal Plus Interest option.
Total asset-based expense ratio:0.18% - 1.14%; 0.15% for the Money Market option with waiver. None for Principal Plus Interest Option.
Taxes and other Benefits
- Tax deduction for single filers$5,000/yr
- Tax deduction for joint filers$10,000/yr
Married filing jointly residents contributing $100/month can expect an additional $0 a year in tax savings.