Fees & expenses

The information below describes the fees and expenses that you would pay if you contributed to a particular investment portfolio in the Path2College 529 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.

Investment Portfolio Plan Manager Fee(1)(2) Board Administrative Fee(1)(3) Estimated Expenses of an Investment Portfolio's Underlying Investments(4) Total Annual Asset-Based Fees(5)
2040/2041 Enrollment Portfolio 0.04% 0.00% 0.06% 0.10%
2038/2039 Enrollment Portfolio 0.04% 0.00% 0.06% 0.10%
2036/2037 Enrollment Portfolio 0.04% 0.00% 0.06% 0.10%
2034/2035 Enrollment Portfolio 0.04% 0.00% 0.06% 0.10%
2032/2033 Enrollment Portfolio 0.04% 0.00% 0.06% 0.10%
2030/2031 Enrollment Portfolio 0.04% 0.00% 0.06% 0.10%
2028/2029 Enrollment Portfolio 0.04% 0.00% 0.05% 0.09%
2026/2027 Enrollment Portfolio 0.04% 0.00% 0.05% 0.09%
2024/2025 Enrollment Portfolio 0.04% 0.00% 0.03% 0.07%
In School Enrollment Portfolio 0.04% 0.00% 0.02% 0.06%
  1. 1Although the Plan Manager Fee and the Board Administrative Fee are 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 and the Board Administrative Fee as these fees reduce the Investment Portfolio’s return.↩
  2. 2Each Investment Portfolio (with the exception of the Principal Plus Interest Portfolio) pays the Plan Manager a fee at an annual rate of 0.04% of the average daily net assets of the Investment Portfolio. This 0.04% fee applies on total assets in the Plan up to $5.0 billion. The Plan Manager fee will be reduced to 0.03% on the first day of the month following the date when total assets in the Plan reach or exceed $5.0 billion. The Plan Manager fee will be reduced to 0.02% on the first day of the month following the date when total assets in the Plan reach or exceed $6.0 billion.↩
  3. 3For its services in administrating the Plan, each Investment Portfolio (with the exception of the Principal Plus Interest Portfolio) may charge a Board administrative fee at an annual rate of 0.06% of the average daily net assets of the Investment Portfolio. The Board is currently electing to waive its fee.↩
  4. 4The 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 prospectus effective as of the date this Supplement was finalized for printing, 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 2 than the Principal Plus Interest Portfolio, which does not invest in mutual funds) 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.↩
  5. 5These figures represent the estimated weighted annual expense ratios of the mutual funds in which the Investment Portfolios invest plus the fees paid to the Plan Manager and to the Board.↩

Investment Portfolio Plan Manager Fee(1)(2) Board Administrative Fee(1)(3) Estimated Expenses of an Investment Portfolio's Underlying Investments(4) Total Annual Asset-Based Fees(5)
Conservative Allocation Portfolio 0.04% 0.00% 0.04% 0.08%
Balanced Allocation Portfolio 0.04% 0.00% 0.07% 0.11%
High Equity Allocation Portfolio 0.04% 0.00% 0.08% 0.12%
100% Fixed-Income Portfolio 0.04% 0.00% 0.05% 0.09%
U.S. Equity Index Portfolio 0.04% 0.00% 0.05% 0.09%
  1. 1Although the Plan Manager Fee and the Board Administrative Fee are 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 and the Board Administrative Fee as these fees reduce the Investment Portfolio’s return.↩
  2. 2Each Investment Portfolio (with the exception of the Principal Plus Interest Portfolio) pays the Plan Manager a fee at an annual rate of 0.04% of the average daily net assets of the Investment Portfolio. This 0.04% fee applies on total assets in the Plan up to $5.0 billion. The Plan Manager fee will be reduced to 0.03% on the first day of the month following the date when total assets in the Plan reach or exceed $5.0 billion. The Plan Manager fee will be reduced to 0.02% on the first day of the month following the date when total assets in the Plan reach or exceed $6.0 billion.↩
  3. 3For its services in administrating the Plan, each Investment Portfolio (with the exception of the Principal Plus Interest Portfolio) may charge a Board administrative fee at an annual rate of 0.06% of the average daily net assets of the Investment Portfolio. The Board is currently electing to waive its fee.↩
  4. 4The 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 prospectus effective as of the date this Supplement was finalized for printing, 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 2 than the Principal Plus Interest Portfolio, which does not invest in mutual funds) 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.↩
  5. 5These figures represent the estimated weighted annual expense ratios of the mutual funds in which the Investment Portfolios invest plus the fees paid to the Plan Manager and to the Board.↩

Investment Portfolio Plan Manager Fee Board Administrative Fee Estimated Expenses of an Investment Portfolio's Underlying Investments Total Annual Asset-Based Fees
Principal Plus Interest Portfolio(6) N/A N/A N/A N/A
  1. 6The Principal Plus Interest Portfolio does not pay a fee to the Plan Manager or to the Board. 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. TIAA-CREF Life also pays the Board a fee, equal to 0.06% of the average daily net assets held by the Principal Plus Interest Portfolio. These payments, along with many other factors, are considered by the issuer when determining the interest rate(s) credited under the funding agreement.↩