Are there any fees associated with opening a MACS account?
With MACS, there are no sales charges, start-up or maintenance fees. An annual asset-based management fee will be paid to TIAA-CREF Tuition Financing, Inc. (TFI) to cover the cost of investment management and administrative services. TFI is an affiliate of TIAA-CREF Individual & Institutional Services, LLC, the distributor for MACS. For the Managed Allocation and 100% Equity options, the total of these fees range from 0.89% to 0.95% (less than one percent) of the average daily net assets of the trust (excluding assets held in the Guaranteed Option). The Guaranteed Option provides a guarantee of principal and a minimum rate of interest to MACS, but not to account owners or beneficiaries. No other fees or charges will be applied to your account. Please note however, that the State reserves the right to change the current fee and impose new or additional fees, expenses, changes, or penalties in the future. See fee table and sample investment cost.
