Never miss a story — sign up for PLANADVISER newsletters to keep up on the latest retirement plan adviser news.
Products November 9, 2010
MESP Reduces Fees, Unveils Web Site
The Michigan Department of Treasury and TIAA-CREF Tuition Financing, Inc. announced a reduction in fees of the Michigan Education Savings Program (MESP).
Reported by PLANADVISER staff
Effective October 25, 2010, the total annual asset-based fee, which covers the cost of operations, investment management and marketing of MESP, was reduced from 0.45% to 0.35% per year. The Principal Plus Interest Option continues to be offered without a fee, according to a press release.
MESP also recently unveiled a new Web site (www.misaves.com) that includes:
- e-Delivery of statements and disclosure information
- Online withdrawals
- College Savings Planner to project potential tax savings and college savings goals
- Informational Webinars to learn about MESP
- iPhone and Android applications available
The Michigan Education Savings Program has close to $2.5 billion in assets (as of November 4, 2010) since its launch in November, 2000.
You Might Also Like:

In Q1, 529 and ABLE Account Assets Continue Steady Growth
The majority of the assets, $500 billion, are held in 16.3 million 529 savings plan accounts, while prepaid tuition plans...

JPMorgan Introduces 2025 College Planning Essentials Guide
The asset management firm found that financial aid has not kept pace with the rising cost of college tuition, with...

2024 Sees Net Inflows of $3.1B to 529 Tuition Savings Plans
A provision of the SECURE Act 2.0 of 2022 that permits certain assets saved for education to be rolled over...