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TNStars College Savings 529 Program

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Good TN resident benefits

TN resident benefits

The TNStars College Savings 529 Program is administered by the Tennessee Treasury Department. It features an age-based option and individual investment options with underlying funds from Vanguard, PrimeCap, DoubleLine, and Western Asset.

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KEY METRICS

OVERVIEW

Program type

Savings

Inception

2012

State agency

State of Tennessee Department of Treasury and the College Savings Trust Fund Program Board of Trustees

Tax deduction

For single filers: None

For joint filers: None

Program manager

State of Tennessee Department of Treasury

Program distributor

Not applicable.

Manager contract term

MORE INFORMATION

Eligibility

State residency requirements:

None

Who can be a participant/owner in the program?

U.S. citizens and legal residents at least 18 years old, UGMA/UTMA custodians, and legal entities.

Significant time or age restrictions imposed by the program:

Any contribution made to an account must be on the account for 21 days before it can be withdrawn.

Did you know?

  • 529 plan contributions grow tax-free.

    Withdrawals are tax-free when used to pay for qualified higher education expenses.

  • You can contribute as much as you want, as often as you want.

    The key is to get started. Enroll today by completing a quick form online.

TNStars College Savings 529 Program
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Contributions

Maximum contributions:

$500,000 including all accounts in the program held for the same beneficiary

Minimum contributions:

The minimum initial or subsequent contribution to an account for each investment option is $25. Once an initial contribution is made to the account, there are no required subsequent contributions. There is a minimum $25 contribution to establish the account, regardless of the number of investment options selected.

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.

Investment Options

Investors in TNStars College Savings 529 Program can select from the following investment options. Click on a portfolio name for more information.

An age-based option offers ten age bands. Contributions are placed into the portfolio corresponding to the beneficiary's age and automatically shift to a more conservative portfolio over time.
PortfolioE.R. % Equity1yr performance
Age-Based 0-20.24%100%6.69%
Age-Based 3-40.24%100%6.26%
Age-Based 5-60.24%85%6.08%
Age-Based 7-80.24%70%5.84%
Age-Based 9-100.24%57.5%5.48%
Age-Based 11-120.24%45%5.17%
Age-Based 13-140.23%32.5%5.08%
Age-Based 15-160.23%27.5%4.73%
Age-Based 17-180.24%20%4.82%
Age-Based 19+0.24%10%5.11%

Age-based/Enrollment Year investment options:

An age-based option offers ten age bands. Contributions are placed into the portfolio corresponding to the beneficiary's age and automatically shift to a more conservative portfolio over time.

Static investment options:

Select among 15 individual options investing in Vanguard, DoubleLine, Western Asset or Primecap funds

Underlying investments:

Vanguard in the age-based option; Vanguard, DoubleLine, Western Asset and Primecap in the individual options.

Underlying fund allocations:

Portfolio Fees & Performance Lookup

Fees & Expenses

Enrollment or application fee:

None

Account maintenance fee:

None

Program management fees:

0.20%

Expenses of the underlying investments:

Ranges from 0.034% to 0.043% in the age-based option; 0.03% to 0.66% in the individual options and money market 0.110%.

Total asset-based expense ratio:

0.23% to 0.86%

Taxes and other Benefits

Tax deduction for single filers:

None

Tax deduction for joint filers:

None

Note:

Tennessee doesn't offer tax deductions

Program match on contributions:

Under the Tennessee Investments Preparing Scholars Program (TIPS), eligible families can receive a matching contribution of $100 for a minimum $25 investment, or $500 for a minimum $125 investment. Beneficiaries can receive a maximum match of $500 per year with a $1,500 lifetime maximum benefit per beneficiary.

State tax deduction or credit for contributions:

Not applicable. Tennessee does not have a personal income tax.

State tax recapture provisions:

N/A

State definition of qualified expenses

The state conforms with the federal definition of qualified education expenses, which includes expenses for higher education, apprenticeship programs, interest and/or principal on qualified education loans up to a $10,000 lifetime cap, and up to $10,000 per year in tuition in connection with enrollment or attendance at an elementary or secondary public, private, or religious school. Distributions from a 529 account directly to a Roth IRA are considered a qualified expense.

State tax treatment of qualified distributions:

Not applicable. Tennessee does not have a personal income tax. Contributions to, and distributions from, Tennessee and non-Tennessee 529 plans are specifically exempt from all Tennessee state, county, and municipal taxes.

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

No

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:

Did you know?

  • Residents are not limited to investing in their own state's 529 plan.

    Another state may offer a plan that performs better and has lower fees.

  • The 529 plan chosen does not affect which state the student enrolls in.

    You can live in New York, open a plan from Nevada and send a student to college in Florida.

  • The best way to maximize your college savings?

    Start early and save often. You can get started today with easy online enrollment.

TNStars College Savings 529 Program
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Distributions & Terminations

To whom are distributions made payable:

The purchaser, beneficiary or the institution of higher education. Non-qualified withdrawals that are "refunds" or that are eligible for a waiver of the federal 10 percent penalty tax are payable to the purchaser.

Account Changes

Policy regarding participant/owner changes:

No provision for permitting an account owner change.

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:

http://tnstars.com/

Telephone:

855-386-7827

Twitter

http://twitter.com/TNStars529

Social Media

Start saving for your child's future today

Complete the online application and make your first deposit

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