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CT Connecticut Higher Education Tru |
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State Provider: Connecticut; Net Assets ($mil):
$1,140.5 as of
10-31-09 |
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The Connecticut Higher Education Trust, managed by TIAA-CREF, is a serviceable option for in-state investors. Residents are eligible for the state's tax deduction on contributions of up to $5,000 per beneficiary per year ($10,000 for joint filers). Also, the plan doesn't charge any application or account maintenance fees, so investors will only have to pay a 0.65% in annual asset-based fees. It offers two age-based tracks--aggressive and moderate--that shift assets from stocks to bonds and cash at a sensible pace. Investors can also choose from equity-only (including a socially responsible option), fixed-income-only, and hybrid static portfolios. These options are well diversified, providing broad exposure to various types of securities including real estate and inflation-linked securities. Money market and guaranteed options are available as well. Given the state's tax benefits and the investment flexibility, this is a good choice for in-state investors. Non-residents should take a look at cheaper alternatives, such as Michigan’s Education Savings Program (also managed by TIAA-CREF) or Utah’s Educational Savings Plan Trust.(Information as of 03/03/2009) |
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| Availability: Sales Channel |
Resident: Direct
Non-Resident: Direct
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| Annual State Tax Deduction |
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Up to $5,000 (S),
10,000 (J)
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| Max Investment/Beneficiary |
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$300,000 |
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(includes appreciation)
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| Mos. to Qualified Withdrawal |
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Public, Private & International
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Age-Based Portfolios
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| Static Portfolios |
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| US Stock
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Bond |
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| Total International Funds: 22 |
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| Underlying Funds’ Ratings |
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| Overall Morningstar Rating |
# Equity
Funds |
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# Bond
Funds |
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| Ratings as of
10-31-09 |
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| Range |
0.1 |
| 529 Plan Avg |
0.8 |
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| Portfolio Expense Ratio Range |
| Fee to Change Beneficiary |
| Share Classes: Sales Charge |
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| Initial Purchase |
$25 |
$25 |
| Additional Purchase |
15 |
15 |
| Initial (AIP) |
25 |
25 |
| Additional (AIP) |
15 |
15 |
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