TIAA, a leader in 529 plan management, brings reduced fees and enhanced digital capabilities to the college savings experience
OLYMPIA, Wash., Feb. 19, 2025 -- The Washington Student Achievement Council (WSAC) is pleased to announce the relaunch of Washington's 529 college savings plan as WA529 Invest, a $690 million1 assets under management plan now managed by TIAA, the third largest program manager2 of 529 college savings plans. WA529 Invest is now a more accessible, affordable, and flexible way for Washington families to save for higher education.
Under the new program management, WA529 Invest offers several enhancements for account owners. The annual $30 account maintenance fee has been eliminated along with most service-based fees and asset-based fees are reduced. Additionally, WA529 Invest provides more investment options, including a socially responsible and a guaranteed portfolio, while simplifying the Enrollment Year investment option.
Account owners will benefit from enhanced convenience through a new, modern technology platform that makes managing accounts easier than ever. With the READYSAVE™ 529 app, users can access their accounts anytime, anywhere. The Ugift® online gifting tool enables account owners to invite friends and family to contribute directly to their savings. The redesigned WA529 website features improved navigation, streamlined content, and robust tools for ease of use.
WA529 director, Lynda Ridgeway, states "We are excited to offer Washington families a more attractive and affordable way to save for their children's college education. With this transition to TIAA, a trusted partner, it will be easier for families and students to save more for educational expenses, helping to reduce the burden of future debt."
"With the cost of higher education continuing to rise, one of the ways to unlock economic opportunity for families and students is to start a 529 account," said Chris Lynch, President, TIAA Tuition Financing Inc. "This updated program is designed to empower more Washington families to plan, save and pay for college expenses. We are proud to provide college savers with the best tools and resources they need to confidently prepare for one of the most exciting journeys of their lives."
About WA529
Washington Education Savings Plans (WA529) offers two 529 college savings plans to Washingtonians: the GET prepaid tuition program and WA529 Invest. Both programs offer individuals and families tax-advantaged options to save for education and career training. The Committee on Advanced Tuition Payment and College Savings, commonly known as the WA529 Committee, provides oversight and sets program policies. The five-member committee consists of the executive director of the Washington Student Achievement Council, the State Treasurer, the director of the Office of Financial Management, and two citizen representatives. The Washington Student Achievement Council supports and helps administer the programs, based on the Committee's direction.
To learn more about WA 529 Invest, its investment objectives, risks, charges, and expenses see the Program Details Booklet at 529Invest.wa.gov before investing. Read it carefully. Except to the extent of the guarantee associated with the Principal Plus Interest Portfolio, investments in the plan are neither insured nor guaranteed and there is the risk of investment loss. WA529 Invest is administered by the Washington Committee on Advanced Tuition Payment and College Savings. TIAA-CREF Tuition Financing, Inc. (TFI), plan manager. TIAA-CREF Individual & Institutional Services, LLC, Member FINRA, distributor and underwriter for WA529 Invest.
Before you invest, consider whether your or the beneficiary's home state offers any state tax or other state benefits such as financial aid, scholarship funds, and protection from creditors that are only available for investments in that state's 529 Plan. You also may wish to contact your home state's 529 Plan(s), or any other 529 Plan, to learn more about those plans' features, benefits, and limitations. Remember that state-based benefits should be one of many appropriately weighted factors to consider when making an investment decision. In addition, you should periodically assess, and if appropriate, adjust your 529 Plan investment choices with your time horizon, risk tolerance, and investment objectives in mind.
TIAA is a leading provider of secure retirements and outcome-focused investment solutions to millions of people and thousands of institutions. It is the #1 not-for-profit retirement market provider3, paid more than $5.7 billion in lifetime income to retired clients in 2023 and has $1.4 trillion in assets under management (as of 12/31/2024)4.
TIAA-CREF Tuition Financing, Inc. (TFI) is the education savings division within TIAA. TIAA is a pioneer in 529 college savings plans, and the third largest program manager with $60 billion5 in assets under management.
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TIAA Institute is a division of Teachers Insurance and Annuity Association of America (TIAA), New York, NY.
©2024 Teachers Insurance and Annuity Association of America-College Retirement Equities Fund, New York, NY
1 As of 12/31/24.
2 ISS MI, 529 Market Intelligence, 2024.
3 As of July 21, 2022. Based on data in PLANSPONSOR's 403(b) 2022 DC Recordkeeping Survey, combined 457 and 403(b) data.
4 As of December 31, 2024 assets under management across Nuveen Investments affiliates and TIAA investment management teams are $1,387 billion.
5 TIAA-CREF Tuition Financing, Inc. (TFI)
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