TIAA-CREF Tuition Financing, Inc as program manager of the Bright Start College Savings Program . The Illinois direct-sold Plan features two age-based options using either a Passive Enrollment or Active Blend Enrollment Year Portfolios, three Passive Static Allocation Portfolios, three Active Blend Static Allocation Portfolios, individual fund portfolios from a number of fund families and an FDIC-insured option.
- Program typeSavings
- Inception2000, but substantially changed in July 2007 and again in July 2017.
- State agencyIllinois State Treasurer
- Tax deduction
- Program ManagerUnion Bank & Trust Company
- Program distributorTIAA-CREF Tuition Financing, Inc.
Investment Options
Investors in Bright Start Direct-Sold College Savings Program can select from the following investment options. Click on a portfolio name for more information.
Sometimes referred to as the enrollment-based option, this is an investment approach where your asset allocation is programmed to change over time. Accounts for young beneficiaries are invested aggressively and accounts for beneficiaries with college right around the corner are invested much more conservatively. In some 529 plans, the age-based option operates by automatically transferring your investment from one static portfolio to another at certain points in time. Others utilize lifecycle funds or employ lifecycle-type tactics within the portfolio containing your investment so that it is not necessary to transfer your investment between portfolios.