General InformationDownload PDF Report
Connecticut Higher Education Trust (CHET) -- Advisor Plan
The Connecticut Higher Education Trust (CHET) Advisor Plan is managed by Hartford Funds and features age-based, static, and individual portfolio options. Underlying investments include Hartford Funds mutual funds, two iShares (BlackRock) mutual funds, and a stable value portfolio managed by Invesco. To find a financial advisor in your area, use the Directory of Financial Professionals.
- Program typeSavings
- State agencyConnecticut State Treasurer
- Tax deductionTax deduction for single filers $5,000/yrTax deduction for joint filers $10,000/yr
- Program ManagerHartford Funds Management Company, LLC.
- Program distributorHartford Funds Distributors, 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?U.S. citizens and resident aliens, 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 Connecticut's 529 plan for the same beneficiary reach $300,000.
Minimum contributions:The minimum initial contribution for payments via check is $50, with additional investments of at least $25 per Account; For initial contributions made via electronic transfers or Payroll Direct Deposit or through the Automatic Investment Program, the minimum initial and subsequent contributions are $25 per Account.
Age-based investment options:One age-based option containing 9 portfolios of underlying 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:5 options are offered: Aggressive Growth, Growth, Balanced, Conservative, and Checks and Balances. Additionally, 12 individual fund options are offered including a Stable Value portfolio.View more static investment options
Underlying investments:Hartford Funds mutual funds, two iShares (BlackRock) mutual funds, and an Invesco Stable Value portfolioView 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:0.16% manager fee and a 0.01% fee to the state, plus distribution/servicing fees of 0.25% (Class A); 1.00% (Class C); None (Class E)
Expenses of the underlying investments:Ranges from 0.35% to 0.63% (portfolio weighted average) in aged based and static multi-funds portfolios, and from 0.23% to 0.77% in the individual fund portfolios.
Total asset-based expense ratio:Class A: 0.65%-1.19%
Class C: 1.40%-1.94%
Class E: 0.40%-0.94%
Broker loads and commissions:UNLOCK PRO
Breakpoint pricing:UNLOCK PRO
Does breakpoint pricing include non-529 assets under rights of accumulation policiesUNLOCK PRO
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.