About: The Connecticut Higher Education Trust (CHET) is a state-sponsored, tax-advantaged 529 college savings plan that’s helping families and individuals plan for the cost of higher education. It’s available to any citizen or tax payer. And just about anyone can help contribute including Grandparents, other family members and friends. The Connecticut Higher Education Trust (CHET) features three age-based options along with eight static investment options.
Website: https://www.aboutchet.com/
Phone #: 1-888-799-2438
Investment Options: CHET is administrated by the State of Connecticut, acting by and through the Connecticut 529 College Savings Board. There are three age-based options, the Moderate Managed Allocation Option, Conservative Managed Allocation Option and the Aggressive Managed Allocation Option, are offered, each containing 6 portfolios of underlying mutual funds. Four static blend and five individual options are offered plus the Principal Plus Interest Option, and the Money Market Option. The Direct Plan Manager is TIAA-CREF Tuition Financing Incorporated and manage along with BlackRock, Harding Loevner, GMO, DFA, GE, MetWest, T Rowe Price, & Franklin Templeton.
Tax Benefits: Contributions to a Connecticut 529 plan of up to $5,000 per year by an individual, and up to $10,000 per year by a married couple filing jointly, are deductible in computing Connecticut taxable income, with a five-year carryforward of excess contributions. Rollover contributions are not deductible. Contribution deadline is December 31 postmark if by mail, or final business day of the year if by electronic payment.
State Residency Requirements: No state residency is required to participate in Connecticut 529 College Savings Plans.
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