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Mississippi Affordable College Savings (MACS) Program

3 / 5

Our rating

Good MS resident benefits

MS resident benefits

The manager for the Mississippi Affordable College Savings (MACS) Program changed from TIAA-CREF to Intuition College Savings Solutions, LLC in June 2017. The plan features an age-based option, five risk-based options, three individual fund options and a guaranteed option.

Mississippi Affordable College Savings (MACS) Program

KEY METRICS

OVERVIEW

Program type

Savings

Inception

2001; program manager change in 2017

State agency

College Savings Plans of Mississippi and State Treasury Department

Tax deduction

For single filers: $10,000/yr per beneficiary

For joint filers: $20,000/yr per beneficiary

Program manager

Intuition College Savings Solutions, LLC

Program distributor

Intuition College Savings Solutions, LLC

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, 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 Mississippi's 529 plans for the same beneficiary reach $400,000.

Minimum contributions:

$25, or $15 per pay period via payroll deduction.

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

This plan does not offer an online gifting portal allowing for easy sharing but may offer gift certificates or allow mail-in gift 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 Mississippi Affordable College Savings (MACS) Program can select from the following investment options. Click on a portfolio name for more information.

The Managed Allocation Option contains nine 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.
PortfolioE.R. % Equity1yr performance
Age 0-40.72%90%5.57%
Age 11-120.72%65%5.6%
Age 13-140.7%54%5.57%
Age 150.7%44%5.61%
Age 160.7%34%5.35%
Age 170.67%23%4.87%
Age 18+0.65%13%4.21%
Age 5-80.72%85%5.6%
Age 9-100.72%75%5.64%

Age-based/Enrollment Year investment options:

The Managed Allocation Option contains nine 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.

Static investment options:

Five multi-fund risk-based options, three single fund options and the Guaranteed Option.

Underlying investments:

TIAA-CREF, Vanguard and Schwab mutual funds; the Guaranteed Option is invested in a funding agreement with TIAA-CREF Life Insurance Company that guarantees principal and a rate of interest between 1% and 3% (actual rate is declared annually).

Underlying fund allocations:

Portfolio Fees & Performance Lookup

Fees & Expenses

Enrollment or application fee:

None.

Account maintenance fee:

$20 for account owners who have not elected to receive plan documents by electronic delivery

Program management fees:

0.60% manager fee; no fee for the Guaranteed Option.

Expenses of the underlying investments:

Ranges from 0.03% to 0.12% (portfolio weighted average). None for the Guaranteed Option.

Total asset-based expense ratio:

0.63% - 0.72%. None for the Guaranteed Option.

Taxes and other Benefits

Tax deduction for single filers:

$10,000/yr per beneficiary

Tax deduction for joint filers:

$20,000/yr per beneficiary

Program match on contributions:

None.

State tax deduction or credit for contributions:

Contributions to a Mississippi 529 savings plan of up to $10,000 per year by an individual, and up to $20,000 per year by a married couple filing jointly, are deductible in computing Mississippi taxable income. Contribution deadline is April 15 of the following year.

Calculate your Mississippi 529 tax benefit

Find out how much you can save on state taxes this year by contributing to a Mississippi 529 plan.

Your tax savings per year
$0

Household income

$100,000

Monthly Contribution

$100

State tax recapture provisions:

The principal portion of nonqualified withdrawals from this plan are included in Mississippi taxable income to the extent of prior Mississippi tax deductions. A rollover to another 529 plan is not subject to recapture.

State definition of qualified expenses

The state's definition of qualified education expenses includes expenses for higher education, as well as up to $10,000 per year in tuition in connection with enrollment or attendance at an elementary or secondary public, private, or religious school.

State tax treatment of qualified distributions:

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

State tax treatment of rollovers:

Mississippi follows federal tax-free treatment.

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

Yes

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:

Eligible educational institution or account owner, as directed by the account owner.

Account Changes

Policy regarding participant/owner changes:

Accepts requests to transfer account ownership.

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://treasury.ms.gov/for-citizens/college-savings-mississippi/

Telephone:

1-800-987-4450

Twitter

https://twitter.com/save4collegems

A good place to start:

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