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Rollovers and Transfers

Rollover Funds from Another 529 College Savings Plan

If you currently have another 529 college savings plan account and want to move the assets to a Michigan Education Savings Program (MESP) account, complete the Rollover Form (PDF) and return it to us along with your enrollment application.

You are permitted to transfer funds from another 529 college savings plan to an account in the Michigan Education Savings Program for the same beneficiary once within a 12-month period without incurring federal income tax. Before doing a transfer or rollover from another account, be sure to consider the differences in features and costs, and possible tax consequences.

You may wish to consult your tax advisor or the other 529 college savings plan before transferring funds. State and local taxes may apply. For more information on rollovers, see the Disclosure Booklet (PDF).

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The Michigan Education Savings Program (MESP) is offered by the State of Michigan. TIAA-CREF Tuition Financing, Inc. is the Program Manager.

Consider the investment objectives, risks, charges and expenses before investing in MESP Please visit www.misaves.com for a Disclosure Booklet containing this and other information. Account value in the Investment Options is not guaranteed and will fluctuate based upon a number of factors, including general market conditions.

Before investing in a 529 plan, you should consider whether the state you or your designated beneficiary reside in or have taxable income in has a 529 plan that offers favorable state income tax or other benefits that are only available if you invest in that state’s 529 plan.

The tax information contained herein is not intended to be used, and cannot be used, by any taxpayer for the purpose of avoiding tax penalties. Taxpayers should seek advice based on their own particular circumstances from an independent tax advisor.

Non-qualified withdrawals are subject to income taxes and the additional 10% federal tax.

The Program web site is for informational purposes only, and does not constitute an offer to sell or solicitation of an offer to buy any security that may be referenced on the site. Such offer or solicitation can be made only through the Disclosure Booklet.

The Program web site contains links to other web sites. Neither the Program nor TIAA-CREF Tuition Financing, Inc. and its affiliates are responsible for the content of those other websites. The accuracy of information on those sites cannot be confirmed.

TIAA-CREF Tuition Financing, Inc., Program Manager.

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