Are there any fees associated with opening a CHET account?
With CHET, there are no sales charges, start-up or maintenance fees. TIAA-CREF, Tuition Financing, Inc. is paid an annual asset-based management fee to cover the cost of investment management, administrative services, the state fee plus the specific fees for the underlying mutual funds. TFI is an affiliate of TIAA-CREF Individual & Institutional Services, LLC, the distributor for CHET. For each Investment Option (with the exception of the Principal Plus Interest Option) the total of these fees will not exceed 0.65% of the average daily net assets of the trust. There is no fee for the Principal Plus Interest Option. The Treasurer of the state of Connecticut, acting as Trustee for CHET, collects a state fee of 0.01% of the average daily net assets of the Trust annually to pay for expenses related to the oversight of the Trust. This state fee applies each Investment Option (with the exception of the Principal Plus Interest Option). See fee table and sample investment cost. Please note, ho
With CHET, Connecticut’s direct-sold plan, there are no sales charges, start-up or maintenance fees. The program management fee for CHET’s direct-sold college savings plan is 20 basis points-one of the lowest cost plans in the nation. The total asset based fee (program management fee plus cost of underlying funds) range from 0.34% to 0.98% of the average daily net assets of your account depending upon the option. That’s just $3.40 to $9.80 for every $1000 invested. The Principal Plus Interest Option does not have a program management fee. The Treasurer of the state of Connecticut, acting as Trustee for CHET, collects a state fee of 0.01% of the average daily net assets of the Trust annually to pay for expenses related to the oversight of the Trust. This state fee applies each Investment Option (with the exception of the Principal Plus Interest Option). See fee table and sample investment cost. Please note, however, that the State reserves the right to change the current fee and impose
