TIAA-CREF is featured in The Detroit News’ article, “Michigan Education Savings Program ranked one of 8 best 529 plans in U.S.,” according to Morningstar Inc. The national rankings firm ranked the program in its “silver” plan category. The plan is administered by TIAA-CREF Tuition Financing, Inc. Read the article here .
The 2012 Morningstar ratings for 529 plans use an analyst rating for funds. Five factors are used to arrive at the final rating, people, process, parent program, performance and price. In addition the ratings reflect the quality of the entire plan.
The Michigan Plan was awarded one of four silver ratings, just below gold. Morningstar rated 64 plans.
The Michigan Education Savings Program (MESP) is offered by the State of Michigan. TIAA-CREF Tuition Financing, Inc. is the Program Manager.
Consider the investment objectives, risks, charges and expenses before investing in MESP. Please visit www.misaves.com for a Disclosure Booklet containing this and other information. Account value in the Investment Options is not guaranteed and will fluctuate based upon a number of factors, including general market conditions.
Before investing in a 529 plan, you should consider whether the state you or your designated beneficiary reside in or have taxable income in has a 529 plan that offers favorable state income tax or other benefits that are only available if you invest in that state’s 529 plan.
The tax information contained herein is not intended to be used, and cannot be used, by any taxpayer for the purpose of avoiding tax penalties. Taxpayers should seek advice based on their own particular circumstances from an independent tax advisor.