General InformationDownload PDF Report
Kentucky Education Savings Plan Trust
The Kentucky Education Savings Plan Trust is similar to other TIAA-managed 529 savings programs. The Plan features an age-based option, two 100% equity options, a balanced option, a fixed income option, and a guaranteed option. Ascensus College Savings will assume management of the program in February 2019.
- Program typeSavings
- State agencyKentucky Higher Education Assistance Authority
- 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 is a very good program that offers valuable benefits but may have some limitations or concerns that investors need to know.
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:None
Who can be a participant/owner in the program?U.S. citizens and resident aliens at least 18 years old, UGMA/UTMA custodians, and legal entities.
Significant time or age restrictions imposed by the program:None
Alternative 529 Plans
Other great plans you should consider
You are not limited to opening your own state's 529 plan, so shop around. We encourage you to consider the highly rated options below:
Maximum contributions:Accepts contributions until all account balances in Kentucky's 529 plans for the same beneficiary reach $350,000.
Minimum contributions:$25, or $15 per pay period via payroll deduction.
Age-based investment options:The Managed Allocation Option contains 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:Select among 2 100% equity options (one using actively managed funds and the other using mostly index funds), a balanced option, a fixed income option, and the Guaranteed Option.View more static investment options
Underlying investments:TIAA-CREF institutional mutual funds; the Guaranteed Option is invested in a funding agreement with TIAA-CREF Life Insurance Company that guarantees principal and a minimum 1% annual rate of interest (actual rate is declared annually and as of July 1, 2017 is 1.50% till June 30, 2018).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:0.60% manager fee for the Managed Allocation option includes underlying fund expenses; 0.47% manager fee for the Equity Index, Balanced, and Fixed Income options, and 0.41% fee for the Active Equity Option, which do not include underlying fund expenses. No fee for the Guaranteed Option.
Expenses of the underlying investments:Managed Allocation Option: included in the program management fee.
100% equity options: 0.07% to 0.50%
Balanced Option: 0.26%
Fixed Income Option: 0.16%
Total asset-based expense ratio:0.54% - 0.91%. None for the Guaranteed Option.
Taxes and other Benefits
- Tax deduction for single filersNone
- Tax deduction for joint filersNone
Kentucky doesn't offer tax deductions