Edvest College Savings Plan

Fees & Expenses

The information below describes the fees and expenses that you would pay if you contribute to a particular investment option in the Edvest College Savings Plan. These fees are indirectly paid out of the assets of your account. Except for the fees listed below, there are currently no other fees, charges or penalties imposed by or payable to the Plan in connection with opening or maintaining an account.


Age-Based Investment Options

Age-Based

Fees and Expenses
Investment Option Plan Manager Fee(1)(2) State Administrative Fee(3) Estimated Expenses
of an Investment
Option's Underlying
Investments(4)
Total Annual Asset-Based Fees(5)
Age Band 0‑4 0.08% 0.00% 0.11% 0.19%
Age Band 5‑8 0.08% 0.00% 0.12% 0.20%
Age Band 9‑10 0.08% 0.00% 0.13% 0.21%
Age Band 11‑12 0.08% 0.00% 0.14% 0.22%
Age Band 13‑14 0.08% 0.00% 0.20% 0.28%
Age Band 15 0.08% 0.00% 0.22% 0.30%
Age Band 16 0.08% 0.00% 0.23% 0.31%
Age Band 17 0.08% 0.00% 0.24% 0.32%
Age Band 18+ 0.08% 0.00% 0.23% 0.31%

Aggressive Age-Based

Fees and Expenses
Investment Option Plan Manager Fee(1)(2) State Administrative Fee(3) Estimated Expenses
of an Investment
Option's Underlying
Investments(4)
Total Annual Asset-Based Fees(5)
Age Band 0‑4 0.08% 0.00% 0.10% 0.18%
Age Band 5‑8 0.08% 0.00% 0.11% 0.19%
Age Band 9‑10 0.08% 0.00% 0.12% 0.20%
Age Band 11‑12 0.08% 0.00% 0.13% 0.21%
Age Band 13‑14 0.08% 0.00% 0.14% 0.22%
Age Band 15 0.08% 0.00% 0.19% 0.27%
Age Band 16 0.08% 0.00% 0.20% 0.28%
Age Band 17 0.08% 0.00% 0.21% 0.29%
Age Band 18+ 0.08% 0.00% 0.22% 0.30%
Stable Principal Investment Options
Fees and Expenses
Investment Option Plan Manager Fee(1)(2) State Administrative Fee(3) Estimated Expenses
of an Investment
Option's Underlying
Investments(4)
Total Annual Asset-Based Fees(5)
Bank CD Portfolio(6) 0.08% 0.00% 0.00% 0.08%
Principal Plus Interest Portfolio(7) None None None None
Multi-Fund Investment Options

Index-Based Multi-Fund

Fees and Expenses
Investment Option Plan Manager Fee(1)(2) State Administrative Fee(3) Estimated Expenses
of an Investment
Option's Underlying
Investments(4)
Total Annual Asset-Based Fees(5)
Index-Based Aggressive 0.08% 0.00% 0.11% 0.19%
Index-Based Moderate 0.08% 0.00% 0.14% 0.22%
Index-Based Conservative 0.08% 0.00% 0.20% 0.28%

Active-Based Multi-Fund

Fees and Expenses
Investment Option Plan Manager Fee(1)(2) State Administrative Fee(3) Estimated Expenses
of an Investment
Option's Underlying
Investments(4)
Total Annual Asset-Based Fees(5)
Active-Based Aggressive 0.08% 0.00% 0.29% 0.37%
Active-Based Moderate 0.08% 0.00% 0.33% 0.41%
Active-Based Conservative 0.08% 0.00% 0.35% 0.43%

Additional Multi-Fund

Fees and Expenses
Investment Option Plan Manager Fee(1)(2) State Administrative Fee(3) Estimated Expenses
of an Investment
Option's Underlying
Investments(4)
Total Annual Asset-Based Fees(5)
International Equity Index 0.08% 0.00% 0.09% 0.17%
Balanced 0.08% 0.00% 0.07% 0.15%
Single-Fund Investment Options
Fees and Expenses
Investment Option Plan Manager Fee(1)(2) State Administrative Fee(3) Estimated Expenses
of an Investment
Option's Underlying
Investments(4)
Total Annual Asset-Based Fees(5)
Small Cap Index Portfolio 0.08% 0.00% 0.06% 0.14%
U.S. Equity Active Portfolio 0.08% 0.00% 0.19% 0.27%
Large Cap Stock Index Portfolio 0.08% 0.00% 0.06% 0.14%
Social Choice Portfolio 0.08% 0.00% 0.18% 0.26%
Bond Index Portfolio 0.08% 0.00% 0.12% 0.20%

(1) Although the Plan Manager Fee is deducted from an Investment Option, not from your Account, each Account in the Investment Option indirectly bears its pro rata share of the Plan Manager Fee as this fee reduces the Investment Option’s return.

(2) Each Investment Option (with the exception of the Principal Plus Interest Portfolio) pays the Plan Manager a fee at an annual rate of 0.08% (8 basis points) of the average daily net assets of the Investment Option.

(3) The State Administrative Fee is a fee that the Board may collect for its services to the Plan. The Board has waived the State Administrative Fee through October 29, 2017. If the waiver was no longer in effect, the State Administrative Fee would be 0.10% of the average daily net assets of the Investment Options (other than the Principal Plus Interest Portfolio).

(4) The percentages set forth in this column are based on the expense ratios of the mutual funds in which an Investment Option invests. The amounts are calculated using the expense ratio reported in each mutual fund’s most recent prospectus available prior to the date of this Disclosure Booklet weighted according to the Investment Option’s allocation among the mutual funds in which it invests. Although these expenses are not deducted from an Investment Option’s assets, each Investment Option (other than the Principal Plus Interest Portfolio) indirectly bears its pro rata share of the expenses of the mutual funds in which it invests as these expenses reduce such mutual fund’s return. Although no expenses are listed above, to the extent that the Bank CD Portfolio invests in money market mutual funds, the Portfolio will indirectly bear its pro rata share of those expenses.

(5) These figures represent the estimated weighted annual expense ratios of the mutual funds in which the Investment Options invest plus the fee paid to the Plan Manager.

(6) Although not paid by the Bank CD Portfolio or any Accounts, the deposit broker for the Bank CD Portfolio receives compensation for its services based upon the stated rate of interest paid on the underlying CDs in the Bank CD Portfolio. This compensation reduces the amount of interest otherwise payable to the Bank CD Portfolio.

(7) The Principal Plus Interest Portfolio does not pay a fee to the Plan Manager. TIAA-CREF Life Insurance Company (“TIAA-CREF Life”), the issuer of the funding agreement in which this Investment Option invests and an affiliate of TFI, makes payments to TFI, as Plan Manager. This payment, among many other factors, is considered by the issuer when determining the interest rates credited under the funding agreement.

 

The example in the following table is intended to help you compare the cost of investing in the different Investment Options over various periods of time. This example assumes that:

  • You invest $10,000 in an investment portfolio for the time periods shown below.
  • Your investment has a 5% compounded return each year.
  • You withdraw your entire investment from the Investment Portfolio at the end of the specified periods for Qualified Higher Education Expenses.
  • Total annual asset-based fees remain the same as shown in the Fee Table above.

Although your actual costs may be higher or lower, based on the above assumptions your costs would be:

Investment Cost Example
Investment Option Approximate Cost of $10,000 Investment
  1 Year 3 Years 5 Years 10 Years
Age-Based Investment Options
Age Band 0‑4 $19 $61 $107 $243
Age Band 5-8 $21 $64 $113 $255
Age Band 9-10 $22 $68 $118 $268
Age Band 11‑12 $23 $71 $124 $281
Age Band 13-14 $29 $90 $158 $356
Age Band 15 $31 $97 $169 $381
Age Band 16 $32 $100 $174 $394
Age Band 17 $33 $103 $180 $406
Age Band 18+ $32 $100 $174 $394
Aggressive Age-Based Investment Options
Age Band 0‑4 $18 $58 $102 $230
Age Band 5-8 $19 $61 $107 $243
Age Band 9-10 $21 $64 $113 $255
Age Band 11‑12 $22 $68 $118 $268
Age Band 13-14 $23 $71 $124 $281
Age Band 15 $28 $87 $152 $344
Age Band 16 $29 $90 $158 $356
Age Band 17 $30 $93 $163 $369
Age Band 18+ $31 $97 $169 $381
Multi-Fund Investment Options
Index-Based Aggressive Portfolio $19 $61 $107 $243
Index-Based Moderate Portfolio $23 $71 $124 $281
Index-Based Conservative Portfolio $29 $90 $158 $356
Active-Based Aggressive Portfolio $38 $119 $208 $469
Active-Based Moderate Portfolio $42 $132 $230 $518
Active-Based Conservative Portfolio $44 $138 $241 $543
Single-Fund Investment Options
International Equity Index Portfolio $17 $55 $96 $217
Small-Cap Index Portfolio $14 $45 $79 $179
U.S. Equity Active Portfolio $28 $87 $152 $344
Large-Cap Stock Index Portfolio $14 $45 $79 $179
Social Choice Portfolio $27 $84 $146 $331
Bond Index Portfolio $21 $64 $113 $255
Balanced Portfolio $15 $48 $85 $192
Stable Principal Investment Options
Bank CD Portfolio(2) $8 $26 $45 $103
Principal Plus Interest Portfolio $0 $0 $0 $0

(1) These examples reflect the Board’s waiver of the 0.10% State Administrative Fee for each time period set forth above. In the event the waiver was to be rescinded, the applicable costs thereafter would increase.

(2) The expense example of the Bank CD Portfolio does not include any expenses of money market mutual funds in which the Portfolio might invest. To the extent those expenses are incurred, the costs for that Investment Option would be greater.