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GA Path2College 529 Plan |
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State Provider: Georgia; Net Assets ($mil):
$684.7 as of
10-31-09 |
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Georgia’s Path2College 529 Plan is managed by TIAA-CREF and available directly from the state. Costs have fallen in recent years. The plan used to charge a flat 0.78% in annual asset-based fees. Now expenses range from 0.50% for an equity-only fund to 0.76% for a fixed-income-only portfolio (age-based offerings charge a flat 0.65% in annual asset-based fees). More residents qualify for the state's tax deductions too. Residents no longer need to itemize their federal deductions and have adjusted gross income of $50,000 or less ($100,000 for joint filers) in order to become eligible for the state's tax deduction on contributions of up to $2,000 per year per beneficiary. The amount of the deduction no longer decreases with increasing assets either. The plan offers some flexibility with two age-based tracks (aggressive and moderate), three static allocation portfolios (equity-only, fixed-income-only, and hybrid), a money market fund, and a guaranteed portfolio. Given the tax incentive here, this is a sound option for in-state investors. Nonresidents should consider cheaper alternatives, such as Michigan’s Education Savings Program, which is also managed by TIAA-CREF and charges a mere 0.45% management fee.(Information as of 03/04/2009) |
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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 $2,000 (S),
2,000 (J)
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| Max Investment/Beneficiary |
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$235,000 |
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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: 25 |
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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 |
0.00
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0.53 |
| 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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