Transcription
Please file this Supplement to the CollegeChoice 529 Direct Savings Plan Disclosure Booklet with your records.SUPPLEMENT DATEDJUNE 2022TO THE COLLEGECHOICE 529 DIRECT SAVINGS PLANPROGRAM DISCLOSURE BOOKLETDATED JUNE 2019This Supplement describes important changes affecting The CollegeChoice 529 Direct Savings Plan. Unless otherwiseindicated, defined terms used herein have the same meaning as those in the CollegeChoice 529 Direct Savings PlanDisclosure Booklet.New Year of Enrollment PortfolioEffective on or about August 19, 2022, a new Year of Enrollment Portfolio, the 2042 Enrollment Portfolio, will become available.Accordingly, the following changes are hereby made to the Disclosure Booklet effective on or about August 19, 2022:1.All references to seven (7) Year of Enrollment Portfolios found throughout the Disclosure Booklet are updated to eight(8) Year of Enrollment Portfolios.2.The following replaces the “Fee and Expense Information” table on page 21 of the Disclosure Booklet:FEE AND EXPENSE INFORMATIONEFFECTIVE ON OR ABOUT JUNE 1, 2022A 20 ANNUAL ACCOUNT MAINTENANCE FEE IS ASSESSED PER ACCOUNT 1 ALL INVESTMENT OPTIONS BEARTHE TOTAL ANNUAL ASSET-BASED FEE2ESTIMATED ANNUALIZEDANNUALIZEDTOTAL ANNUALINVESTMENT OPTIONSUNDERLYINGMANAGER FEEASSET- BASED FEE2INVESTMENT FEE3,42042 Enrollment Portfolio0.04%0.24%0.28%2039 Enrollment Portfolio0.04%0.24%0.28%2036 Enrollment Portfolio0.04%0.24%0.28%2033 Enrollment Portfolio0.04%0.24%0.28%2030 Enrollment Portfolio0.04%0.24%0.28%2027 Enrollment Portfolio0.04%0.24%0.28%2024 Enrollment Portfolio0.03%0.24%0.27%College Portfolio0.03%0.24%0.27%U.S. Equity Index Portfolio0.02%0.14%0.16%Active U.S. Equity Portfolio0.30%0.14%0.44%International Equity Index Portfolio0.07%0.14%0.21%Active International Equity Portfolio0.50%0.14%0.64%Active Bond Portfolio0.40%0.14%0.54%Inflation-Protected Portfolio0.11%0.14%0.25%Bond Index Portfolio0.04%0.14%0.18%Stable Value Portfolio4, 50.02%0.14%0.16%Savings Portfolio0.00%0.14%0.14%1This fee is waived if: a) you or your Beneficiary are an Indiana Resident; or b) your Account balance is at least 25,000.2 Thistotal is assessed against assets over the course of the year and includes the annualized Underlying Investment Fee and the annualizedManager Fee, but does not include the Annual Account Maintenance Fee. Please refer to the table that shows total approximate costs for a 10,000 investment over 1-, 3-, 5-, and 10-yearperiods.3Estimated Underlying Investment Fee reflects each Underlying Fund’s expense ratio disclosed in its most recent prospectus as of the date ofES-IN-SUP-062022
the above table (except in the case of the Stable Value Portfolio which does not have a prospectus as of the date of this supplement).Expenses for multiple-fund Portfolios represent a weighted average of the expenses of the Portfolio’s Underlying Funds. As of the date of thissupplement to the Plan Disclosure Booklet, an Underlying Investment Fee is not charged for the Savings Portfolio. The Annualized UnderlyingInvestment Fees may increase or decrease over time.4Because the Vanguard Short-Term Reserves Account is a component of select Year of Enrollment Portfolios and is the Fund underlying theStable Value Portfolio, the expense ratio of select Year of Enrollment Portfolios and the Stable Value Portfolio may include a stable value wrapfee of between 0.15% and 0.20%, which could reduce the return of the Portfolio.5The Program Manager may voluntarily limit the Manager Fee associated with the Stable Value Portfolio in an effort to achieve a net yield of0.00% or greater.3.The following replaces the “Approximate Cost For A 10,000 Investment Excluding The 20 Annual AccountMaintenance Fee” table on page 22 of the Disclosure Booklet:APPROXIMATE COST FOR A 10,000 INVESTMENT EXCLUDING THE 20 ANNUAL ACCOUNT MAINTENANCE FEEPORTFOLIO2042 Enrollment Portfolio2039 Enrollment Portfolio2036 Enrollment Portfolio2033 Enrollment Portfolio2030 Enrollment Portfolio2027 Enrollment Portfolio2024 Enrollment PortfolioCollege PortfolioU.S. Equity Index PortfolioActive U.S. Equity PortfolioInternational Equity Index PortfolioActive International Equity PortfolioActive Bond PortfolioInflation-Protected PortfolioBond Index PortfolioStable Value PortfolioSavings Portfolio4.1 YEAR3 YEAR5 YEAR10 YEAR 29 29 28 28 28 28 28 27 16 45 21 65 55 26 18 17 14 90 90 89 89 89 89 87 86 52 141 66 205 173 80 56 52 45 157 157 156 156 156 155 152 151 90 246 116 357 302 141 99 91 79 355 355 353 353 353 351 344 341 205 555 262 798 677 318 224 206 179The following replaces the “Approximate Cost For A 10,000 Investment Including The 20 Annual AccountMaintenance Fee” table on page 22 of the Disclosure Booklet:APPROXIMATE COST FOR A 10,000 INVESTMENT INCLUDING THE 20 ANNUAL ACCOUNT MAINTENANCE FEEPORTFOLIO2042 Enrollment Portfolio2039 Enrollment Portfolio2036 Enrollment Portfolio2033 Enrollment Portfolio2030 Enrollment Portfolio2027 Enrollment Portfolio2024 Enrollment PortfolioCollege PortfolioU.S. Equity Index PortfolioActive U.S. Equity PortfolioInternational Equity Index PortfolioActive International Equity Portfolio1 YEAR3 YEAR5 YEAR10 YEAR 49 49 48 48 48 48 48 47 36 65 41 85 150 150 149 149 149 149 147 146 111 201 126 264 257 257 256 256 256 255 252 250 190 346 215 455 552 553 550 550 550 548 542 538 403 750 459 9922
Active Bond PortfolioInflation-Protected PortfolioBond Index PortfolioStable Value PortfolioSavings Portfolio5. 75 46 38 37 34 233 140 116 112 105 401 240 198 191 179 871 516 422 404 378The following replaces the “Year of Enrollment Portfolios’ Target Allocations” table on page 28 of the DisclosureBooklet:Year of Enrollment Portfolios’ Target AllocationsEffective on or about August 19, 2022(Allocation percentages may not total 100.00% due to rounding)Underlying b S&P 500 Index Vanguard Extended Market IndexFund Institutional 0%2.81%6.56%16.87%45.37%60.00%Vanguard Real Estate Index FundInstitutionaliShares MSCI EAFE InternationalIndex KVanguard Emerging MarketsStock Index Fund Institutional PlusVanguard Total Bond Market IIIndex Fund InstitutionalSchwab Treasury InflationProtected Securities Index FundVanguard High Yield CorporateFund AdmiralVanguard Total International BondIndex FundVanguard Short Term ReservesAccount6.The following is added to the “Year of Enrollment Option Portfolio Profiles” section on page 28 of the DisclosureBooklet:2042 Enrollment PortfolioThe Portfolio is designed for investors expecting to begin withdrawing assets around the year 2042.It currently invests in two Vanguard stock index funds, one Schwab stock index fund, one BlackRock (iShares) stock index fund,two Vanguard bond index funds, one Schwab bond index fund, one active Vanguard bond fund, one Vanguard real estate indexfund, and one Vanguard capital preservation fund, resulting in an allocation of 90% of its assets to stocks and 10% of its assetsto bonds. The percentages of the Portfolio’s assets currently allocated to each asset class are:3
7.The 2042 Enrollment Portfolio is added to the list of Year of Enrollment Portfolios in the Portfolio column on page 56 ofthe Disclosure Booklet as supplemented.4
Please file this Supplement to the CollegeChoice 529 Direct Savings Plan Disclosure Booklet with your records.SUPPLEMENT DATEDJANUARY 2022TO THE COLLEGECHOICE 529 DIRECT SAVINGS PLANPROGRAM DISCLOSURE BOOKLETDATED JUNE 2019This Supplement describes important changes affecting The CollegeChoice 529 Direct Savings Plan. Unless otherwiseindicated, defined terms used herein have the same meaning as those in the CollegeChoice 529 Direct Savings PlanDisclosure Booklet.As of January 1, 2022, the federal annual gift tax exclusion increased to 16,000 for a single individual, 32,000 for marriedcouples making a proper election. For 529 Plans, contributions of up to 80,000 for a single contributor (or 160,000 for marriedcouples making a proper election) can be made in a single year and applied against the annual gift tax exclusion equally overa five-year period. Accordingly, all references to the exclusion of contributions from federal gift tax found throughout theDisclosure Booklet are updated to reflect these increased amounts.As of January 1, 2022, the annual limit for an ABLE Rollover Distribution has increased to 16,000 prescribed by Section529A(b)(2)(B)(i) of the Code.1.Effective January 1, 2022, the following replaces the section entitled “Federal Gift/Estate Tax” on page 40 of theDisclosure Booklet.Federal Gift/Estate Tax. If your contributions, together with any other gifts to the Beneficiary (over and above those made toyour Account), do not exceed 16,000 per year ( 32,000 for married couples making a proper election), no gift tax will beimposed for that year. Gifts of up to 80,000 can be made in a single year ( 160,000 for married couples making a properelection) for a Beneficiary and you may elect to apply the contribution against the annual exclusion equally over a five-yearperiod. This allows you to move assets into tax-deferred investments and out of your estate more quickly. If you die withassets still remaining in your Account, the Account’s value will generally not be included in your estate for federal estate taxpurposes, unless you elect the five-year averaging and die before the end of the fifth year. If your Beneficiary dies, and assetsremain in your Account, the value of your Account may be included in the Beneficiary’s estate for federal tax purposes.Further rules regarding gifts and the generation-skipping transfer tax may apply in the case of distributions, changes ofBeneficiaries, and other situations. The state law treatment of gift and estate taxes varies so you should check with your taxadvisor for the specific effect of federal and state (if any) gift tax and generation-skipping transfer tax on your situation.2.Effective January 1, 2022, the following replaces the section entitled “ABLE Rollover Distributions” on page 40 of theDisclosure Booklet.ABLE Rollover Distributions. Where a distribution is placed in a Qualified ABLE Program account within 60 days of thedistribution date, you may avoid incurring federal income tax or a Distribution Tax if the transfer is for the same Beneficiary orfor a Member of the Family of the Beneficiary. Any distribution must be made before January 1, 2026 and cannot exceed theannual Qualified ABLE Program 16,000 contribution limit.Changes in your Beneficiary could potentially cause gift and/or generation-skipping transfer tax consequences to you andyour Beneficiary. Because gift and generation-skipping transfer tax issues are complex, you should consult with your taxadvisor.3.Effective January 1, 2022, the following replaces the section entitled “ABLE Rollover Distribution” on page 50 of theDisclosure Booklet.ABLE Rollover Distribution. A distribution to an account in a Qualified ABLE Program for the same Beneficiary or a Member ofthe Family of the Beneficiary. Any distribution must be made before January 1, 2026 and cannot exceed the annual 16,000contribution limit prescribed by Section 529A(b)(2)(B)(i) of the Code.IND SUP 0122
Please file this Supplement to the CollegeChoice 529 Direct Savings Plan Disclosure Booklet with your records.SUPPLEMENT DATED OCTOBER 2021SUPERCEDING THE SUPPLEMENTS DATEDJANUARY 2020, APRIL 2020, JULY 2020, OCTOBER 2020, AND APRIL 2021,TO THECOLLEGECHOICE 529 DIRECT SAVINGS PLAN DISCLOSURE BOOKLETDATED JUNE 2019This Supplement describes important changes affecting the CollegeChoice 529 Direct Savings Plan. Unlessotherwise indicated, capitalized terms have the same meaning as those in the Plan Disclosure Booklet.Effective on or about November 7, 2021, CollegeChoice Direct will begin to offer a new Year of Enrollment Portfolio,update target allocations for the existing Year of Enrollment Portfolios, transition the 2021 Year of EnrollmentPortfolio into the College Portfolio, and change certain Underlying Investments in both the Year of Enrollment andIndividual Investment Options. Additionally, two new Individual Investment Options will be added and theInternational Portfolio will be renamed Active International Equity Portfolio.The target allocation updates for the Year of Enrollment Portfolios will occur in two steps as detailed in the TargetAllocation Tables beginning on page 11 below, with a partial change effective on or about November 7, 2021 andthe final changes effective on or about January 14, 2022.Updates provided in the January 2020, April 2020, July 2020, October 2020, and April 2021 supplements are restatedin this Supplement.We will not send a separate confirmation at the conclusion of these transactions. Please reference your quarterlystatements for details about these transactions.Individual Investment Option Changes Overview.Effective on or about November 7, 2021, CollegeChoice Direct is adding two new Individual Investment Options asshown in the table below:New Investment OptionActive U.S. Equity PortfolioInternational Equity Index PortfolioUnderlying InvestmentAQR Large Cap Defensive StyleFund R6State Street Global All Cap EquityEx-U.S. Index Fund KInvestment ManagerAQR Capital ManagementState Street Global Advisors FundsManagement, Inc. (“SSGA FM”)Effective on or about November 7, 2021 the Underlying Investment for the Individual Investment Option entitled“International Portfolio” is being replaced and renamed as shown in the table below:Individual Portfolio NameActive International EquityPortfolioExisting UnderlyingInvestmentDodge & CoxInternational Stock FundReplacement UnderlyingInvestmentJP MorganInternational Equity R6Investment ManagerJP MorganYear of Enrollment Investment Option Changes Overview.Effective on or about November 7, 2021 certain Underlying Investments for the Year of Enrollment Portfolios arechanging. The following table lists the existing Underlying Investments that are changing and the replacementUnderlying Investments:
Existing Underlying InvestmentVanguard Institutional Total Stock Market Index FundVanguard Total International Stock Fund Institutional PlusVanguard Short-Term Inflation Protected Securities ETFReplacement Underlying InvestmentSchwab S&P 500 Index FundiShares MSCI EAFE International Index KSchwab Treasury Inflation Protected Securities Index FundEffective on or about November 7, 2021, four new Underlying Investments are being added to the asset allocation mixfor the Year of Enrollment Portfolios as shown in the table below:Underlying Investments AddedVanguard Emerging Markets Stock Index InstitutionalVanguard Extended Market Index Institutional PlusPlusVanguard High Yield Corporate AdmiralVanguard Real Estate Index InstitutionalEffective on or about January 14, 2022 two Underlying Investments are being removed from the asset allocation mixfor the Year of Enrollment Portfolios as shown in the table below:Underlying Investments RemovedVanguard Short Term Bond Index Fund InstitutionalLoomis Sayles Strategic Alpha Fund NPlusEffective after the close of business on November 7, 2021 assets invested in the 2021 Year of Enrollment Portfolio willroll into the College Portfolio in accordance with the periodic transition discussed in the section entitled “Year ofEnrollment Portfolios” on page 27 of the Plan Disclosure Booklet as supplemented.Effective on or about November 7, 2021 a new Year of Enrollment Portfolio entitled 2039 Enrollment Portfolio will beadded as an Investment Option.Accordingly, the following changes are made to the Plan Disclosure Booklet.1.The following replaces the section entitled “How To Take A Distribution from Your Account” on page 4 ofthe Plan Disclosure Booklet:How To Take a Distribution from Your Account p. 14-16This section discusses the different ways you can withdrawal funds from your Account. You can have a withdrawalpaid directly to you, as Account Owner, to the Beneficiary, or to an Eligible Educational Institution. A withdrawal topay K-12 Tuition or to make an Education Loan Repayment is only payable to the Account Owner.This section also describes the difference between Qualified Distributions, Non-Qualified Distributions, and othertypes of withdrawals (for example, when the Beneficiary receives a scholarship, or is unable to attend school due toa Disability). There can be federal and state tax impacts of taking a withdrawal. It’s important to discuss withdrawalswith a tax advisor to ensure you understand your particular situation.2
2. The following replaces the paragraph entitled “Year of Enrollment Option” on page 5 of the Plan DisclosureBooklet:Year of Enrollment Option. This Investment Option invests in a Portfolio that automatically moves to progressivelymore conservative investments as your Beneficiary approaches college age. There are seven (7) Portfolios availableunder the Year of Enrollment Option. These Portfolios invest in Underlying Funds managed by Vanguard, Schwab, andBlackRock.3. The following replaces the paragraph entitled “Individual Portfolios Option” on page 5 of the PlanDisclosure Booklet:Individual Portfolios Option. This option offers eight (8) Portfolios. The types of investments (for example - stocks,bonds or cash) the Portfolio invests in, remains fixed over time. Each Individual Portfolio invests in a singleUnderlying Fund, three of which are managed by Vanguard (U.S. Equity Index Portfolio, the Bond Index Portfolio andthe Stable Value Portfolio). Other Individual Portfolios are managed by JP Morgan (Active International EquityPortfolio), Carillon Tower Advisors (Active Bond Portfolio), DFA (Inflation Protected Portfolio), State Street GlobalAdvisors (International Equity Index Portfolio), and AQR (Active U.S. Equity Portfolio).4.The following replaces the section entitled “Important Tax Information” on page 5 of the Plan DisclosureBooklet:Important Tax Information p. 40-43This section discusses both the Indiana state and federal tax benefits for an investment in CollegeChoice 529.Earnings are tax-deferred and an Indiana state income tax credit for certain contributions is available for Indianataxpayers. Contributions to an Account are also eligible for the applicable annual exclusion from gift and generationskipping transfer taxes. Contributions to your Account are eligible for an Indiana income tax credit if you are anIndiana taxpayer (resident or non-resident) filing a single, joint or, effective January 1, 2020, married filing separatelyreturn. The tax credit works differently depending on the type of education expenses for which you use yourAccount. For the tax year 2017 and earlier, a 20% Indiana state income tax credit up to a maximum of 1,000 is availablefor contributions to an Account that will be used to pay for Indiana Qualified Higher Education Expenses(excluding Apprenticeship Program Expenses);For the tax year beginning January 1, 2018, a 10% Indiana state income tax credit up to a maximum of 500 isavailable for contributions to an Account that will be used to pay for Indiana K-12 Tuition. When combined withthe Indiana state income tax credit taken for Indiana Qualified Higher Education Expenses, the maximum annualstate income tax credit cannot exceed 1000; andFor the tax year beginning January 1, 2019, a 20% Indiana state income tax credit up to a maximum of 1,000 isavailable for contributions to an Account that will be used to pay for Indiana Qualified Higher EducationExpenses, Indiana K-12 Tuition, and Education Loan Repayments;Effective January 1, 2020, a 20% Indiana state income tax credit up to a maximum of 1000 ( 500 for marriedfiling separately) when combined with any state income tax credit taken for Indiana Qualified Higher EducationExpenses and Apprenticeship Program Expenses, is available for contributions to an Account that will be usedto pay for Indiana K-12 Tuition.3
You (as the Account Owner) may be subject to recapture of the tax credit in certain cases, including certain NonQualified Distributions, a distribution for K-12 Tuition for a school outside Indiana or, effective January 1, 2020, adistribution to make Education Loan Repayments.5.The following is added at the beginning of the section entitled “Funding Methods” on page 9 of the PlanDisclosure Booklet.Processing delays. In the event of Force Majeure, we may experience processing delays, which may affect yourtrade date. In those instances, your actual trade date for a contribution, withdrawal, or investment exchange, may beafter the trade date you would have received, which may negatively affect the value of your Account.6.The following is added at the end of the section entitled “Contributions By Check” on page 9 of the PlanDisclosure Booklet.In the event of U.S. mail delays, we may experience resulting processing delays, which may affect your trade date. Inthose instances, you may receive a trade date that is after the day we received your contribution.7.The following replaces in its entirety item six, of the enumerated list in the section entitled “Moving Assetsfrom an UGMA/UTMA Account” on page 11 of the Plan Disclosure Booklet:6. you must notify us when the custodianship terminates and your Beneficiary is legally entitled to take control of theAccount by completing the appropriate form. At that time, the Beneficiary will become the Account Owner and willbecome subject to the provisions of the Plan applicable to non-UGMA/UTMA Account Owners. If you do not direct usto transfer ownership of the Account when the Beneficiary is legally entitled to take control, we may freeze theAccount. Some UGMA/UTMA laws allow for more than one age at which the custodianship terminates (Age ofTermination). We may freeze the Account based on the youngest allowable Age of Termination of the custodianshipaccording to the UGMA/UTMA laws where the custodianship Account was established, based on our records. TheCustodian may be required to provide documentation to us if the Age of Termination of the custodianship Account isother than the youngest allowable age under the applicable UMGA/UTMA law or if the applicable UGMA/UTMA lawdiffers from our records;8.The following replaces in its entirety the paragraph entitled “Procedures for Distributions” on page 14 ofthe Plan Disclosure Booklet:Procedures for Distributions. Only the Account Owner may direct distributions from your Account. QualifiedDistributions made payable to the Account Owner, the Beneficiary or an Eligible Educational Institution may berequested online or by phone by providing verifying Account information upon request. Otherwise you may call ClientService at 1-866-485-9415 to receive a Distribution Request Form or download the form on our website atwww.collegechoicedirect.com. In order for us to process a distribution request, you must complete and submit thedistribution request form to us in good order and provide such other information or documentation as we may, fromtime to time, require. Effective no later than January 1, 2019, when taking a distribution from your Account, you will berequired to designate whether the distribution will be used for (i) Qualified Expenses that are not Indiana K-12 Tuition;or (ii) Indiana K-12 Tuition.4
We will generally process a distribution from an Account within three (3) business days of accepting the request.During periods of market volatility and at year-end, distribution requests may take up to five (5) business days toprocess. Please allow ten (10) business days for the proceeds to reach you. We may also establish a minimumdistribution amount and/or charge a Fee for distributions made by federal wire.9.The following paragraph is added immediately following the paragraph entitled “Refunded Distribution” onpage 15 of the Plan Disclosure Booklet:Education Loan RepaymentsYou may take a distribution from your Account to make an Education Loan Repayment for your Beneficiary or asibling (defined in Section 152(d)(2)(B) of the Code) of your Beneficiary, up to a lifetime limit of 10,000 per individual.However, if you make an Education Loan Repayment from your Account, Section 221(e)(1) of the Code provides thatyou may not also be able to take a federal income tax deduction for any interest included in that Education LoanRepayment.It is important that you keep all records of your distributions. We do not separately report distributions made fromyour Account to make an Education Loan Repayment for a sibling of your Beneficiary.10. The following replaces in its entirety the paragraph entitled “Method of Payment” on page 16 of the PlanDisclosure Booklet:Method of Payment. We pay distributions as noted to the following payees: Account Owner (by check or by ACH to an established bank account); Beneficiary (by check or by ACH to an established bank account); or Eligible Education Institution (by check).A distribution taken to pay K-12 Tuition or an Education Loan Repayment will be made payable to the Account Owneronly.11. The following replaces the paragraph entitled “Underlying Investment Fee” on page 20 of the PlanDisclosure Booklet: Underlying Investment Fee. The Underlying Investment Fee includes investment advisory fees, administrative, andother expenses, which are paid to Vanguard, Carillon Tower Advisors, DFA, JP Morgan, AQR, State Street GlobalAdvisors, Schwab, and BlackRock. There is no Underlying Investment Fee for the Savings Portfolio.12. The following replaces the paragraph entitled “Manager Fee” on page 20 of the Plan Disclosure Booklet:Manager Fee. The Program Manager receives the Manager Fee for administration and management ofCollegeChoice 529. It is intended that the Manager Fee will provide all income to the Program Manager necessary tocover the expenses of administering and managing CollegeChoice 529.5
13. The following replaces in its entirety the section entitled “Service-Based and Other Fees” on page 20 of thePlan Disclosure Booklet:Service-Based and Other Fees. We reserve the right to charge additional service-based and other fees if weconsider them to be necessary and reasonable. In particular, if you request delivery of distribution proceeds bypriority delivery service, outgoing wire or, if available, electronic payment to schools, we will deduct the applicablefee listed in the chart below directly from your Account. In our discretion, if applicable, we may also deduct directlyfrom your Account the other fees and expenses identified in the table below or similar fees or charges. We willreport priority delivery and electronic payment to schools as withdrawals on Form 1099-Q. Such convenience feesmay be considered Non-Qualified Distributions. Please consult your tax advisor regarding calculating and reportingany tax liability associated with the payment of any of these fees out of your Account.We may also impose certain transaction fees up to the amounts specified below:TRANSACTIONReturned CheckRejected Recurring Contribution PaymentRejected EFT ContributionPriority Delivery ServiceOutgoing WiresElectronic Payment to Schools (where available)Reissue of Disbursement ChecksRequest for Historical StatementFEE AMOUNT* 30 30 30 15 weekday, 25 Saturday 5 10 15 10 per yearly statement, 30 maximum per household 20Rollover From the Plan* Subject to change without prior notice.We reserve the right to not reimburse fees charged by financial institutions for contributions made either viaRecurring Contribution or EFT that are cancelled due to insufficient funds in the bank account from which the moneyis withdrawn.14. The following replaces the table entitled “Fee and Expense Information” on page 21 of the Plan DisclosureBooklet effective on or about November 7, 2021:FEE AND EXPENSE INFORMATIONEFFECTIVE ON OR ABOUT JANUARY 14, 2022A 20 ANNUAL ACCOUNT MAINTENANCE FEE IS ASSESSED PER ACCOUNT1ALL INVESTMENT OPTIONS BEAR THE TOTAL ANNUAL ASSET-BASED FEE2ESTIMATED ANNUALIZED ANNUALIZED MANAGER TOTAL ANNUAL ASSETINVESTMENT OPTIONSUNDERLYING INVESTMENTFEEBASED FEE23,4FEE2039 Enrollment Portfolio2036 Enrollment Portfolio2033 Enrollment Portfolio2030 Enrollment Portfolio2027 Enrollment Portfolio2024 Enrollment PortfolioCollege PortfolioU.S. Equity Index .28%0.28%0.28%0.27%0.27%0.16%6
Active U.S. Equity PortfolioInternational Equity Index PortfolioActive International Equity PortfolioActive Bond .44%0.21%0.64%0.54%Inflation-Protected Portfolio0.11%0.14%0.25%Bond Index Portfolio0.04%0.14%0.18%Stable Value Portfolio4, 50.02%0.14%0.16%Savings Portfolio0.00%0.14%0.14%1This fee is waived if: a) you or your Beneficiary are an Indiana Resident; or b) your Account balance is at least 25,000.This total is assessed against assets over the course of the year and includes the annualized Underlying Investment Fee and theannualized Manager Fee, but does not include the Annual Account Maintenance Fee. Please refer to the table that shows totalapproximate costs for a 10,000 investment over 1-, 3-, 5-, and 10-year periods.23 EstimatedUnderlying Investment Fee reflects each Underlying Fund’s expense ratio disclosed in its most recent prospectus(except in the case of the Stable Value Portfolio which does not have a prospectus as of the date of this supplement).Expenses for multiple-fund Portfolios represent a weighted average of the expenses of the Portfolio’s Underlying Funds. Asof the date of this supplement to the Plan Disclosure Booklet, an Underlying Investment Fee is not charged for the SavingsPortfolio. The Annualized Underlying Inves
Please file this Supplement to the CollegeChoice 529 Direct Savings Plan Disclosure Booklet with your records. ES-IN-SUP-062022 SUPPLEMENT DATED JUNE 2022 TO THE COLLEGECHOICE 529 DIRECT SAVINGS PLAN . Underlying Investment 2042 2039 2036 2033 2030 2027 2024 College Schwab S&P 500 Index Fund 43.20% 42.16% 36.69% 30.84% 22.89% 15.66% 8.43% 4. .
