Are there any fees associated with opening a MESP 529 Plan account?
There are no sales charges, start-up or maintenance fees. The only fees for a MESP account are the total annual asset-based fees which include the annual asset-based management fee that will be paid to TIAA-CREF Tuition Financing, Inc. (TFI) to cover the cost of investment management, administrative services and the underlying fund expenses. This fee is computed at an annual rate of 0.35% (less than ½ percent) of the average daily net assets of your account (excluding assets held in the Principal Plus Interest Option). The Principal Plus Interest Option provides a guarantee of principal and a minimum rate of interest to the Michigan Department of Treasury but not to account owners or beneficiaries.
