Investment Portfolios

Building a 529 Plan account that is right for you takes planning. The ScholarShare College Savings Plan offers you a choice of 19 Investment Portfolios. These choices vary in their investment strategy and degree of risk, allowing you to select an investment portfolio or combination of investment portfolios that may fit your needs.

For more information on the risks involved in investing in such investment portfolios, and the type of investor for whom each investment portfolio may be appropriate, read the Disclosure Booklet (PDF).

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Investment Portfolios

Changing Your Investments
Once you invest in a particular investment portfolio, you can transfer contributions and any earnings to another investment portfolio only twice per calendar year or upon a transfer of funds to a ScholarShare College Savings Plan account for a different beneficiary.

Periodically Review Your Investments
It's a good idea to periodically re-evaluate your investment strategy as your goals, investment horizon, and personal situation change - for example, annually at tax time, on a yearly basis if your income changes, or upon the birth of another child.


Age-Based Investment Portfolios (Risk level shifts from aggressive to conservative as the beneficiary ages)

Investment Objective. The Age-Based Investment Portfolios seek to match the investment objective and level of risk to the investment horizon by taking into account the Beneficiary’s current age and the number of years before the Beneficiary turns 18 and is expected to enter college.

Investment Strategy. Depending on the Beneficiary’s age, contributions to these Investment Portfolios will be placed in one of nine age bands, each of which has a different investment objective and investment strategy. As discussed in more detail below, the age bands for younger Beneficiaries seek a favorable long-term return by investing primarily in mutual funds that primarily invest in equity securities (including real estate securities), which may have greater potential for returns than debt securities, but which also have greater risk than debt securities. As a Beneficiary nears college age, the age bands invest less in mutual funds that invest in equity securities (including real estate securities) and invest more heavily in mutual funds that invest in debt securities and in a funding agreement to preserve capital.

As the Beneficiary ages, assets in your Account invested in an Age-Based Investment Portfolio are moved from one age band to the next on the first “Rolling Date” following the Beneficiary’s fifth, ninth, eleventh, thirteenth, fifteenth, sixteenth, seventeenth and eighteenth birthdays. The Rolling Dates are March 20, June 20, September 20 and December 20 (or the first business day thereafter).


 
 


Active Age-Based Investment Portfolio

Each of the age bands in the Active Age-Based Portfolio invests primarily in mutual funds that are actively-managed. An actively-managed mutual fund is different from an index mutual fund in that an actively-managed mutual fund is not managed to track its benchmark index, but rather, is managed pursuant to the investment style and strategy of its investment manager. This means that the performance of an actively-managed mutual fund can vary greatly from that of its benchmark index – in either a positive or negative direction. Because of the active management style, actively-managed mutual funds tend to have higher expenses than index mutual funds. Click here to view the underlying mutual funds in this Portfolio.


Passive Age-Based Investment Portfolio

Each of the age bands in the Passive Age-Based Portfolio invests primarily in mutual funds that are index mutual funds. An index mutual fund is managed to track a specific securities index that the mutual fund uses as a benchmark. Each of the age bands also invests in certain other mutual funds that are actively-managed (the TIAA-CREF Real Estate Securities Fund, the TIAA-CREF Inflation-Linked Bond Fund and the TIAA-CREF High-Yield Fund) and certain age bands also invest in a funding agreement. Therefore, although a majority of the mutual funds in which this Portfolio invests are passively-managed, it does not invest exclusively in passively-managed mutual funds. Click here to view the underlying mutual funds in this Portfolio.


Multi-Fund Investment Portfolios

These investment portfolios seek to provide investment options for participants who prefer to select an investment portfolio for its asset allocation. Each multi-fund investment portfolio is allocated to multiple underlying funds and/or a funding agreement and has a different investment objective and investment strategy, which are described in more detail below. The allocations in the multi-fund investment portfolios do not change automatically as the beneficiary ages as they do in the Age-Based Investment Portfolios. Investments will remain in the multi-fund investment portfolio(s) selected by a participant until the participant instructs the Plan to transfer them to another investment portfolio or portfolios. The Board may add or remove investment portfolios and change the investment allocations of, or the investments held by, an investment portfolio at any time.


Active Diversified Equity Investment Portfolio (Risk level - aggressive)

Investment Objective. This Investment Portfolio seeks to provide a favorable long-term return, mainly through capital appreciation.

Investment Strategy. This Investment Portfolio invests 100% of its assets in actively-managed mutual funds that invest primarily in equity securities. Click here to view the underlying mutual funds in this Portfolio.

Active Growth Investment Portfolio (Risk level - aggressive)

Investment Objective. This Investment Portfolio seeks to provide a favorable long-term return, mainly through capital appreciation.

Investment Strategy. This Investment Portfolio invests 70% of its assets in actively-managed mutual funds that invest primarily in equity securities and 30% of its assets in actively-managed mutual funds that invest primarily in fixed income and other debt securities. Click here to view the underlying mutual funds in this Portfolio.

Active Moderate Growth Investment Portfolio (Risk level - moderate)

Investment Objective. This Investment Portfolio seeks to provide moderate growth.

Investment Strategy. This Investment Portfolio invests in a mix of actively managed mutual funds that invest primarily in equity securities and actively managed mutual funds that invest primarily in fixed income and other debt securities. Click here to view the underlying mutual funds in this Portfolio.

Active Conservative Investment Portfolio (Risk level - conservative to moderate)

Investment Objective. This Investment Portfolio seeks to provide preservation of capital along with a moderate long-term rate of return.

Investment Strategy. This Investment Portfolio invests in a number of actively managed mutual funds that invest primarily in fixed income and other debt securities and it invests in a funding agreement. Click here to view the underlying mutual funds in this Portfolio.

Active Diversified Fixed Income Investment Portfolio (Risk level - moderate)

Investment Objective. This Investment Portfolio seeks to provide a moderate long-term rate of return, primarily through current income.

Investment Strategy. This Investment Portfolio invests 100% of its assets in a diverse mix of actively-managed mutual funds that invest primarily in fixed-income securities. Click here to view the underlying mutual funds in this Portfolio.

Active International Equity Investment Portfolio (Risk level - aggressive)

Investment Objective. This Investment Portfolio seeks to provide a favorable long-term return, mainly through capital appreciation.

Investment Strategy. This investment Portfolio invests 100% of its assets in actively-managed mutual funds that invest primarily in international equity securities. Click here to view the underlying mutual funds in this Portfolio.

Passive Diversified Equity Investment Portfolio (Risk level - aggressive)

Investment Objective. This Investment Portfolio seeks to provide a favorable long-term total return, mainly from capital appreciation.

Investment Strategy. This Investment Portfolio invests 100% of its assets in mutual funds that invest primarily in equity securities. Click here to view the underlying mutual funds in this Portfolio.

Passive Growth Investment Portfolio (Risk level - aggressive)

Investment Objective. This Investment Portfolio seeks to provide a favorable long-term total return, mainly from capital appreciation.

Investment Strategy. This Investment Portfolio invests in mutual funds that invest primarily in equity securities and in a smaller percentage to mutual funds that invest in fixed-income and other debt securities. A number of the mutual funds are considered “index funds” meaning that they are designed to track a benchmark index. Click here to view the underlying mutual funds in this Portfolio.

Passive Moderate Growth Investment Portfolio (Risk level - moderate)

Investment Objective. This Investment Portfolio seeks moderate growth.

Investment Strategy. This Investment Portfolio invests in mutual funds that invest primarily in equity securities and mutual funds that invest primarily in fixed income and other debt securities. A number of the mutual funds are considered “index funds” meaning that they are designed to track a benchmark index. Click here to view the underlying mutual funds in this Portfolio.

Passive Conservative Investment Portfolio (Risk level - conservative to moderate)

Investment Objective. This Investment Portfolio seeks to provide preservation of capital along with a moderate long-term rate of return.

Investment Strategy. This Investment Portfolio invests in mutual funds that invest primarily in debt securities and a funding agreement. One of the mutual funds is considered an "index fund" meaning that it tracks a particular benchmark index while the other two mutual funds are actively-managed. Click here to view the underlying mutual funds in this Portfolio.

Passive Diversified Fixed Income Investment Portfolio (Risk level - moderate)

Investment Objective. This Investment Portfolio seeks to provide a moderate long-term rate of return primarily through current income.

Investment Strategy. This Investment Portfolio invests in mutual funds that invest primarily in debt securities. The majority of the Portfolio is invested in an “index fund” which means that the mutual fund attempts to track a benchmark index. Click here to view the underlying mutual funds in this Portfolio.

Index International Equity Investment Portfolio (Risk level - aggressive)

Investment Objective. This Investment Portfolio seeks to provide a favorable long-term return, mainly from capital appreciation.

Investment Strategy. Each of the mutual funds in which this Investment Portfolio invests is considered an “index fund,” meaning that it attempts to track a benchmark index. Click here to view the underlying mutual funds in this Portfolio.

Single Fund Investment Portfolios

These investment portfolios are each invested solely in either shares of a single Underlying Fund or a Funding Agreement. For those investment portfolios invested in an Underlying Fund, their performance is entirely reliant on the performance of that Underlying Fund and may be more volatile than the age-based investment portfolios or the multi-fund investment portfolios. You should be aware that participants do not own shares of the underlying funds directly. Each of the single fund investment portfolios is described in more detail below.


Social Choice Investment Portfolio (Risk level - aggressive)

Investment Objective. This Investment Portfolio seeks to provide a favorable long-term total return.

Investment Strategy. This Investment Portfolio invests 100% of its assets in one mutual fund that invests primarily in equity securities. The mutual fund in which this Investment Portfolio is invested is: TIAA-CREF Social Choice Equity Fund.


Index Bond Investment Portfolio (Risk level - moderate)

Investment Objective. This Investment Portfolio seeks to provide a moderate rate of return primarily through current income.

Investment Strategy. This Investment Portfolio invests 100% of its assets in an “index fund,” meaning that the mutual fund attempts to track a benchmark index. The mutual fund in which this Investment Portfolio is invested is: TIAA-CREF Bond Index Fund.


Index U.S Large Cap Equity Investment Portfolio (Risk level - aggressive)

Investment Objective. This Investment Portfolio seeks to provide a favorable long-term total return, mainly from capital appreciation.

Investment Strategy. This Investment Portfolio invests 100% of its assets in an “index fund,” meaning that the mutual fund attempts to track a benchmark index. The mutual fund in which this Investment Portfolio is invested is: TIAA-CREF S&P 500 Index Fund.


Index U.S. Equity Investment Portfolio (Risk level - aggressive)

Investment Objective. This Investment Portfolio seeks to provide a favorable long-term growth, mainly from capital appreciation.

Investment Strategy. This Investment Portfolio invests 100% of its assets in an “index fund,” meaning that the mutual fund attempts to track a benchmark index. The mutual fund in which this Investment Portfolio is invested is: TIAA-CREF Equity Index Fund.


Principal Plus Interest Investment Portfolio (Risk level - conservative)

Investment Objective. This Investment Portfolio seeks to preserve capital and provide a stable return.

Investment Strategy. The assets in this Investment Portfolio are allocated to a funding agreement issued by TIAA-CREF Life, which is an affiliate of TFI, to the Board as the policyholder on behalf of the Plan. The funding agreement provides a minimum guaranteed rate of return on the amounts allocated to it by the Investment Portfolio. The minimum effective annual interest rate will be neither less than 1% nor greater than 3% at any time. The guarantee is made by the insurance company to the policyholder, not to Participants. In addition to the guaranteed rate of interest to the policyholder, the funding agreement allows for the possibility that additional interest may be credited as declared periodically by TIAA-CREF Life. The rate of any additional interest is declared in advance for a period of up to 12 months and is not guaranteed for any future periods. The current effective annual interest rate applicable to the funding agreement will be posted on the Plan’s website.

Accumulations (including contributions and earnings) under the Funding Agreement for the Principal Plus Interest Investment Portfolio will be credited to ScholarShare with an effective annual interest rate of 1.0%, and are guaranteed to earn this rate through December 31, 2015, subject to the claims-paying ability of TIAA-CREF Life Insurance Company.



Reflects current allocations for all investment options. Allocations are reviewed and adjusted periodicially.

Account values are not guaranteed and will fluctuate with market conditions. For a complete discussion of risks associate with each investment portfolio, please refer to the Disclosure Booklet.

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