Mississippi 529 plan

Mississippi 529 Plan

Program match on contributions: None

State tax deduction or credit for contributions: Contributions to a Mississippi MACS 529 savings plan of up to $10,000 per year for an individual taxpayer, and $20,000 per year for married taxpayers filing jointly, are deductible in computing Mississippi taxable income. Contribution deadline is April 15 of the following year.

State tax recapture provisions: The principal portion of nonqualified withdrawals from this plan are included in Mississippi taxable income to the extent of prior Mississippi tax deductions. Rollovers apparently are not subject to recapture.

Age-based investment options: The Managed Allocation Option contains six portfolios of underlying mutual funds. Contributions are placed into the portfolio corresponding to the beneficiary’s age and later reassigned to more conservative portfolios as the beneficiary approaches college age.

Static investment options: The 100% Equity Option (a multi-fund portfolio) and the Guaranteed Option.

Single funds
 * 100% Equity Option (ER 1.10%)
 * TIAA-CREF Institutional Growth Equity Fund (27%)
 * TIAA-CREF Institutional Equity Index Fund (8%)
 * TIAA-CREF Institutional Value Equity Fund (29%)
 * TIAA-CREF Institutional Small Cap Equity Fund (6%)
 * TIAA-CREF Institutional Real Estate Securities Fund (10%)
 * TIAA-CREF Institutional International Equity Fund (20%)


 * TIAA Guaranteed Option

Expenses: 0.88% - 1.10%; None for the Guaranteed Option.


 * Plan site
 * Plan document

Links

 * Morningstar Overview
 * State Creditor Protections for 529 Plans