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 portfolio 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.


Enrollment Year Investment Portfolios

Enrollment Year

Fees and Expenses
Investment Portfolio Plan Manager Fee(1)(2) State Administrative Fee(3) Estimated Expenses
of an Investment
Portfolio's Underlying
Investments(4)
Total Annual Asset-Based Fees(5)
2036 / 2037 Enrollment Portfolio 0.08% 0.00% 0.12% 0.20%
2034 / 2035 Enrollment Portfolio 0.08% 0.00% 0.12% 0.20%
2032 / 2033 Enrollment Portfolio 0.08% 0.00% 0.12% 0.20%
2030 / 2031 Enrollment Portfolio 0.08% 0.00% 0.13% 0.21%
2028 / 2029 Enrollment Portfolio 0.08% 0.00% 0.14% 0.22%
2026 / 2027 Enrollment Portfolio 0.08% 0.00% 0.15% 0.23%
2024 / 2025 Enrollment Portfolio 0.08% 0.00% 0.15% 0.23%
2022 / 2023 Enrollment Portfolio 0.08% 0.00% 0.14% 0.22%
2020 / 2021 Enrollment Portfolio 0.08% 0.00% 0.12% 0.20%
In School Portfolio 0.08% 0.00% 0.09% 0.17%
Stable Principal Investment Portfolios
Fees and Expenses
Investment Portfolio Plan Manager Fee(1)(2) State Administrative Fee(3) Estimated Expenses
of an Investment
Portfolio's Underlying
Investments(4)
Total Annual Asset-Based Fees(5)
Cash Equivalents and Bank CD Portfolio(6) 0.08% 0.00% N/A 0.08%
Principal Plus Interest Portfolio(7) N/A N/A N/A N/A
Multi-Fund Investment Portfolios

Index-Based Multi-Fund

Fees and Expenses
Investment Portfolio Plan Manager Fee(1)(2) State Administrative Fee(3) Estimated Expenses
of an Investment
Portfolio's Underlying
Investments(4)
Total Annual Asset-Based Fees(5)
Index-Based Aggressive Portfolio 0.08% 0.00% 0.11% 0.19%
Index-Based Moderate Portfolio 0.08% 0.00% 0.14% 0.22%
Index-Based Conservative Portfolio 0.08% 0.00% 0.09% 0.17%

Active-Based Multi-Fund

Fees and Expenses
Investment Portfolio Plan Manager Fee(1)(2) State Administrative Fee(3) Estimated Expenses
of an Investment
Portfolio's Underlying
Investments(4)
Total Annual Asset-Based Fees(5)
Active-Based Aggressive Portfolio 0.08% 0.00% 0.27% 0.35%
Active-Based Moderate Portfolio 0.08% 0.00% 0.30% 0.38%
Active-Based Conservative Portfolio 0.08% 0.00% 0.20% 0.28%

Additional Multi-Fund

Fees and Expenses
Investment Portfolio Plan Manager Fee(1)(2) State Administrative Fee(3) Estimated Expenses
of an Investment
Portfolio's Underlying
Investments(4)
Total Annual Asset-Based Fees(5)
International Equity Index Portfolio 0.08% 0.00% 0.09% 0.17%
Balanced Portfolio 0.08% 0.00% 0.07% 0.15%
Single Fund Investment Portfolios
Fees and Expenses
Investment Portfolio Plan Manager Fee(1)(2) State Administrative Fee(3) Estimated Expenses
of an Investment
Portfolio'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% 0.05% 0.13%
Social Choice Portfolio 0.08% 0.00% 0.17% 0.25%
Bond Index Portfolio 0.08% 0.00% 0.11% 0.19%

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

(2) Each Investment Portfolio (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 Portfolio. This 0.08% fee applies on total assets in the Plan up to $4.0 billion. The Plan Manager fee will be reduced to 0.07% effective on the first day of the month following the date Plan assets reach or exceed $4.0 billion. If the total market value of the assets in the Plan becomes equal to or greater than $5 billion, then the Plan Manager Fee will be reduced to 0.06% effective on the first day of the month following the date Plan assets reach or exceed $5.0 billion.

(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, 2023. 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 Portfolios (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 Portfolio 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 Plan Description weighted according to the Investment Portfolio’s allocation among the mutual funds in which it invests. Although these expenses are not deducted from an Investment Portfolio’s assets, each Investment Portfolio (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 Cash Equivalents and 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 Portfolios invest plus the fee paid to the Plan Manager.

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

 


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The example in the following table is intended to help you compare the cost of investing in the different Investment Portfolios 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 Portfolio Approximate Cost of $10,000 Investment
  1 Year 3 Years 5 Years 10 Years
Enrollment Year
Investment Portfolios
2036 / 2037 Enrollment Portfolio $21 $64 $113 $255
2034 / 2035 Enrollment Portfolio $21 $64 $113 $255
2032 / 2033 Enrollment Portfolio $21 $64 $113 $255
2030 / 2031 Enrollment Portfolio $22 $68 $118 $268
2028 / 2029 Enrollment Portfolio $23 $71 $124 $281
2026 / 2027 Enrollment Portfolio $24 $74 $130 $293
2024 / 2025 Enrollment Portfolio $24 $74 $130 $293
2022 / 2023 Enrollment Portfolio $23 $71 $124 $281
2020 / 2021 Enrollment Portfolio $21 $64 $113 $255
In School Portfolio $17 $55 $96 $217
Multi-Fund Investment Portfolios
Index-Based Aggressive Portfolio $19 $61 $107 $243
Index-Based Moderate Portfolio $23 $71 $124 $281
Index-Based Conservative Portfolio $17 $55 $96 $217
Active-Based Aggressive Portfolio $36 $113 $197 $444
Active-Based Moderate Portfolio $39 $122 $214 $481
Active-Based Conservative Portfolio $29 $90 $158 $356
International Equity Index Portfolio $17 $55 $96 $217
Balanced Portfolio $15 $48 $85 $192
Single Fund Investment Portfolios
Small-Cap Index Portfolio $14 $45 $79 $179
U.S. Equity Active Portfolio $28 $87 $152 $344
Large-Cap Stock Index Portfolio $13 $42 $73 $167
Social Choice Portfolio $26 $81 $141 $318
Bond Index Portfolio $19 $61 $107 $243
Stable Principal Investment Portfolios
Cash Equivalents and Bank CD Portfolio(2) $8 $26 $45 $103
Principal Plus Interest Portfolio N/A N/A N/A N/A

(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 Cash Equivalents and 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 Portfolio would be greater.