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Kentucky Education Savings Plan Trust |
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Kentucky's Affordable Prepaid Tuition |
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| Kentucky Education Savings Plan Trust |
| Program Manager(s): |
TIAA-CREF Tuition Financing, Inc. |
| Investment Manager(s): |
TIAA-CREF Tuition Financing, Inc.
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| Distribution Manager: |
TIAA-CREF Individual & Institutional Services, LLC
TIAA, Teachers Personal Investors Services, Inc.
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| Program Type: |
Tuition Savings |
| Operational: |
October 18, 1999 |
| Residency Required: |
No
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State Tax or Other Benefits: |
No 
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| Creditor Protection: |
Limited
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| Beneficiary Age Restrictions: |
None
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| Transferable to Other Family Members: |
Initial - anyone.
Change - family of original beneficiary |
| Contributions
Min Monthly Draft
Min Monthly Payroll
Min Opening Amount
Max Funding Amount |
$15
$15
$25
$235,000
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| Fees
Enrollment
Maintenance
Fund Expense
Asset Management
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None
None
Included in Asset Management Fees
0.00%-0.91%
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| PDF of Plan Facts |
Available
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Investment Options
| Management Style |
Non Managed
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Gu |
AB |
Bl |
Eq |
FI |
IF |
| Available |
Y |
Y |
N |
Y |
Y |
Y |
| # Options |
1 |
1 |
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2 |
1 |
1 |
| # Funds |
1 |
10 |
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6 |
2 |
1 |
Gu=Guaranteed, AB=Age Based, Bl=Balanced, Eq=100% Equity, FI=100% Fixed Income, IF=Individual Fund
Advice Available
No
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| Pros and Cons:
Pros: No enrollment or maintenance fees, low minimum contribution of $25 to open account. Age-based offering includes 10 underlying funds. The age-based plan has a conservative bias (a pro if that is desired by the account owner.) The youngest age band, 0-3, starts with about 20% +/- in bonds and age 18+ has a target allocation of 85% in cash and bonds. It is also a plus that the former “Non-Qualified Withdrawal Penalty” has been removed. Rewarding Kentucky resident beneficiaries who meet certain participation requirements with “vested in-state-tuition status” is a small plus. The Interest Income Option has a crediting rate of 3.55% through June 30, 2008.
Cons: Fees of 0.80% (exception - 0% for Interest Income Option) are a little on the high side for TIAA-CREF. Investment choices are few. Does not offer a balanced investment option. |
| Manager's Comments:
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| Free Aplication/Brochure Available: |
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The information presented here was collected from sources that are believed to be reliable, and is maintained for the convenience of the reader. While every effort is made to ensure that this information is accurate and up-to-date, the College Savings Plans Network, the National Association of State Treasurers, Specialized Investments Group, Inc., 529 Solutions, and Drs Sawyers and Krawczyk do not certify the authenticity of information that originates from third parties. None of these shall under any circumstances be liable for any actions taken in reliance on the information provided herein, from whatever source. Some of the information in this table is sourced from and presented with permission of College Savings Plans Network and the National Association of State Treasurers. If any of the information presented here is believed to be inaccurate or incomplete, please advise us by an email to research@529solutions.com.
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