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Fund Family: Various
Minimums: The minimum initial and ongoing contribution amount is $25 per investment option.
Maximum Contributions: The Maximum Account Balance Limit is $235,000. 529 plans typically increase the contribution limit over time, so you may be able to contribute more.
Tax Benefits: There are no state income taxes in Tennesee; however, in and out-of-state participants get the federal tax benefits.
Other Benefits: Tennessee residents who rollover from another plan can receive $100.
Residency: CollegeAccess 529 is open to all United States residents, not just those in South Dakota. However, only Tennesee residents can invest directly. Others need to use a financial adviser.
You can learn more about Tennesee’s TNStars 529 plan at the official website.
For more information about Tennessee Baccalaureate Education System Trust visit the official website.