Self-Selected Investment Options: The estimated Underlying Investment expenses is based on data available in the most recent prospectus of the applicable Underlying Investment(s) as of June 5, 2019.
*TN Interest Bearing Account: The interest rate paid is the Federal Open Market Committee (FOMC) Federal Funds Target Rate, as set from time to time by the FOMC, minus a discount of 0.50% (50 basis points) retained by the financial institution, and minus the program management fee of 0.20% (20 basis points). (If the FOMC sets a rate using a range, the rate used to calculate the interest rate will be the highest rate within the range.) Daily interest is calculated by multiplying each day’s rate in effect, minus the discount and program management fee, by the invested balance amount that day, divided by 365 (calendar days). The aggregate of each day’s interest during a calendar month will be credited to the applicable Account on a monthly basis, on the first day of the following month, and will be reflected on the Participant’s Account statement as of the last business day of each month. Additional information on the FOMC’s Federal Funds Target Rate can be found at www.FederalReserve.gov/MonetaryPolicy/OpenMarket.htm. At this time, in order to ensure that the effective interest rate paid under the TN Interest Bearing Account does not fall below 0.00%, State Treasurer David H. Lillard, Jr., in his capacity as Chair of the College Savings Trust Fund Program Board, has approved a recommendation to temporarily modify the program management fee. Additionally, at this time, the financial institution has temporarily adjusted its discount fee. As a result of these actions, effective March 16, 2020, the effective annual interest rate for the TN Interest Bearing Account is 0.00%. Going forward, while the annual interest rate may fluctuate due to future changes in the Federal Funds Target Rate, discount fee or program management fee, the minimum effective annual interest rate of the TN Interest Bearing Account will be zero percent (0.00%). Any updates to this rate will be available for you to view on the Investment Performance page of the website or by calling us at (855) 386-7827.