The assets of this investment option are used in a financing contract of the TIAA-CREF Life Insurance Company (TIAA-CREF Life) which is a subsidiary of TIAA-CREF Tuition Financing, Inc. to KHEAA as an insurance taker. The financing agreement provides a guaranteed minimum return for the amounts allocated to it by the investment option. The effective minimum interest rate will never be less than 1% or more than 3%. The guarantee is paid by the insurance company to the policyholder and not to the account holder. In addition to the guaranteed interest rate for the policyholder, the financing agreement allows for additional interest at regular intervals by TIAA-CREF Life. The rate of any additional interest is indicated in advance for up to 12 months and is not guaranteed for future periods. The current effective annual effective rate of the guaranteed option, credited with KY Saves 529 until June 30, 2021, is 1.45%, subject to the ABILITY to pay the receivables of the life insurance company TIAA-CREF. Glenn arrived in 2013 at TIAA-CREF Tuition Financing, Inc. It creates investment plans for crown clients, performs due diligence, assesses portfolio risks and performance characteristics, and makes presentations for clients that cover market updates and planning services. Prior to this position, Glenn Associate Portfolio Manager was with AllianceBernstein. He managed more than $10 billion in active shares and implemented daily trading decisions for equities, futures and currency overlays. Glenn is a graduate of Tufts University, CFA Charterholder and a member of the CFA Society of New York.
It also holds the licenses for series 7 and 50 DE FINRA. TIAA-CREF Life may not meet its obligations under the financing agreement for financial or other reasons. These investment portfolios are invested exclusively in shares of a single underlying fund or in a financing agreement. For asset portfolios invested in an underlying fund, their performance depends entirely on the performance of that underlying fund and may be more volatile than age-based asset portfolios or multi-fund investment portfolios. They should be aware that participants do not directly hold shares in the underlying funds. This option may be good for those interested in certain funds, such as the stock index, the money market or social fund options. Savings plans work in the same way as a 401K or IRA by investing your contributions in investment funds or similar investments. The plan offers several investment options to choose from. Your account will be displayed up or down depending on the performance of the selected option.
Savings plans will be either Sold brokers or Direct Sold. 529 ABLE accounts allow Americans with disabilities to save money for university and other expenses in a taxed account without compromising their right to receive drugs, additional security income or other public services. . Tuition Financing, Inc. (TFI) has an experienced team of 529 college savings of investment actuaries and actuaries who design the age-based sliding trajectory and asset allocation recommendations. In addition, our dedicated 529 College Savings team uses information and knowledge from other areas within the largest TIAA organization, which has proven asset allocation expertise. However, within TFI, our investment team focuses exclusively on 529 collegial management plans for which TFI provides program management services and has an average duration of more than 12 years with 529 investment experiences and an average 20-year work experience. You may have been saving for some time and your account is growing – but the university years are approaching.