State Sponsored Savings Plans

The aggressive option seeks long-term capital appreciation and does not focus on income generation. It target allocation is 90% equities and 10% bonds.

The moderately aggressive option seeks long-term capital appreciation with relatively less focus on income generation. It target allocation is 75% to equities and 25% to bonds.

The growth option seeks to provide capital appreciation and low current income. It target allocation is 60% equities and 40% bonds.

The moderate option seeks capital appreciation and, secondarily, moderate current income. Its target allocation is 45% to equities and 55% to bonds.

The moderately conservative option seeks to provide moderate current income and low capital appreciation. Its target allocation is 30% equities, 45% bonds, and 25% cash.

The conservative option seeks substantial capital preservation, limited current income and low capital appreciation. Its target allocation is 10% equities, 30% bonds and 60% cash.

The Checking Account Option invests 100% of its assets in an FDIC-insured checking account.

The Static Options provide investors with a broad selection of asset classes to create their own portfolios based on their desired risk and return profile. The Static Options are:

• U.S. LARGE CAP EQUITY INDEX - A passive domestic stock portfolio that tracks the S&P 500.
   
• LARGE CAP RESPONSIBLE EQUITY OPTION - 
   
• INTERNATIONAL EQUITY INDEX - A fund that passively invests in a mix of developed and emerging market equities. The fund is expected to track a weighted benchmark of 80% MSCI ACWI World ex USA and 20% MSCI Emerging Markets Free Index.
   
• U.S. AND INTERNATIONAL EQUITY INDEX - A fund that invests in a mix of equities, both U.S. and international, across all capitalization ranges and real estate-related securities. The fund is expected to track a weighted benchmark of 60% Russell 3000, 24% International, 6% Emerging Markets, and 10% Real Estate Securities Fund.
   
• EQUITY AND INTEREST ACCUMULATION - A fund that passively invests half of the portfolio in U.S. equities across all capitalization ranges and the other half in the same Funding Agreement issued by TIAA-CREF Life as described above. The fund is expected to track a weighted benchmark of 50% Russell 3000 and 50% 3-month T-Bill.
   
• 100% FIXED INCOME - A fund that passively invests in fixed income holdings that tracks the Bloomberg Barclays U.S. Aggregate and two active funds that invest in inflation-linked bonds and high yield securities. The fund is expected to track a weighted benchmark of 70% BB Barclays Aggregate, 20% inflation-linked bond, and 10% high yield.
   
• MONEY MARKET - An active fund that invests in high-quality, short-term money market instruments of both domestic and foreign issuers that tracks the iMoneyNet Average All Taxable benchmark.
   
• PRINCIPAL PLUS INTEREST OPTION - A passive fund where contributions are invested in a Funding Agreement issued by TIAA-CREF Life. The funding agreement provides for a return of principal plus a guaranteed rate of interest which is made by the insurance company to the policyholder, not the account owners. The account is expected to outperform the return of the 3-month T-Bill.

The Risk Based Allocation Option provide a fixed level of risk and do not change as the beneficiary ages.  There are three separate Risk -Based Allocation Options: Aggressive, Moderate, and Conservative.

• AGGRESSIVE ALLOCATION OPTION - 
   
• MODERATE ALLOCATION OPTION - 
   
• CONSERVATIVE ALLOCATION OPTION - 

The Enrollment-Based Managed Allocation Options are a set of single fund options representing the date your future student needs their college savings. The asset allocation adjusts automatically to a more conservative investment objective and level of risk as the enrollment year approaches.