Mississippi 529 College Savings Plan – Mississippi Affordable College Savings

Mississippi 529 College Savings Plan – Mississippi Affordable College Savings

Is Going to College Worth It Anymore?About: The Mississippi Affordable College Savings (MACS) Program is similar to other TIAA-managed 529 savings programs, and features an age-based option, five risk-based options, and a guaranteed option. The Mississippi Affordable College Savings (MACS) Program offers you a choice of seven Investment Options. These options vary in their investment strategy and degree of risk, allowing you to select an option or combination of options that may fit your needs.

Website: https://www.mnsaves.org/

Phone #: 1-877-338-4646

Investment Options: The Managed Allocation Option contains nine portfolios of underlying mutual funds. Contributions are placed into the portfolio corresponding to the beneficiary’s age and later reassigned to more conservative portfolios as the beneficiary approaches college age. There’s also a Five multi-fund risk-based options and the Guaranteed Option. TIAA-CREF institutional mutual funds; the Guaranteed Option is invested in a funding agreement with TIAA-CREF Life Insurance Company that guarantees principal and a minimum 3% rate of interest.

Tax Benefits: Contributions to a Mississippi 529 savings plan of up to $10,000 per year by an individual, and up to $20,000 per year by a married couple filing jointly, are deductible in computing Mississippi taxable income. Contribution deadline is April 15 of the following year.

State Residency Requirements:  No state residency is required to participate in Mississippi 529 College Savings Plans.

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