MI 529 Advisor - Compare College Savings Options

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	COVERDELL EDUCATION SAVINGS ACCOUNT	UTMA/UGMA ACCOUNT	529 SAVINGS PLAN
Contribution Limit	$2,000 per student per year. Contributor must earn less than $110,000 (single filers) and $220,000 (joint filers)	None	Depends on state—up to a maximum contribution limit of $235,000 per Designated Beneficiary in the State of Michigan (Including contributions in the Michigan Education Savings Program (Direct Plan) and the Michigan Education Trust)
Age Limits	May contribute until child reaches age 18. Must spend assets by child's 30th birthday.	May contribute until child reaches maturity at which time child assumes control of assets	None—However, some state plans do have their own age and/or time limit
Tax Treatment of Withdrawals	Tax-free if used for qualified expenses	None (Subject to annual tax)	Tax-free if used for qualified expenses
Account Control	Account owner	Child assumes control once he or she reaches age of maturity	Account owner
Beneficiary Flexibility	Flexible	May not be changed	Flexible. May be for the benefit of anyone, including yourself.
Effect on Financial Aid	Considered to be assets of the account owner so only a small portion is considered in the aid calculation	Considered to be the assets of the student and reduces financial aid	Considered to be assets of the account owner, so — unless the owner is also the beneficiary —only a small portion is considered in the aid calculation.
Gift Tax Treatment	May contribute $2,000 per year per child without gift tax	May contribute $13,000 per year per child without gift tax	May contribute $13,000 per year per child without gift tax
Estate Tax Treatment*	Considered removed from donor's estate	Considered removed from donor's estate	Considered removed from donor's estate

*Assets placed into a 529 College Savings Plan are considered removed from the donor’s estate for tax purposes. An exception to this rule is if the Account Owner passes away and is listed as the Designated Beneficiary on the account. In this instance, the value of the account will be included in the account owner's taxable estate. You should consult a qualified tax advisor for any tax related issues involving your MI 529 Advisor Plan account.

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Before investing, you should consider whether your state of residency, or your intended beneficiary's state of residency, offers a state tax deduction or any other benefits that are only available for investments in that state's 529 savings program.

An investor should consider the investment objectives, risks and charges and expenses of the MI 529 Advisor Plan before investing. This and other important information is contained in the Plan Disclosure Statement, which should be read carefully before investing, and which is also available from your financial advisor.

Not FDIC Insured | May Lose Value | No Bank Guarantee

The MI 529 Advisor Plan is a Section 529 college savings plan sponsored by the State of Michigan, is managed by TIAA-CREF Tuition Financing, Inc., and administered and distributed by Allianz Global Investors Distributors LLC., 1633 Broadway, New York, NY 10019-7585, 1-866-529-8818.

NOTICE: MI 529 Advisor Plan accounts are not insured or guaranteed by any state, and neither the principal deposited nor any investment return is guaranteed by any state. Furthermore, the accounts are not insured, nor the principal or any investment return guaranteed by the federal government, the Federal Deposit Insurance Corporation (the “FDIC”) or any other federal agency.