Independent 529 Plan selected "Best Products of 2003"

Press Release

Independent 529 Plan selected "Best Products of 2003"

January 29, 2004—In its December 15th issue, BusinessWeek magazine recognized Independent 529 Plan, or I-529, as one of the "Best Products of 2003."

Independent 529 Plan was launched in September 2003 after more than five years of hard work and planning. In January 1998, 18 colleges formed the Tuition Plan Consortium (TPC) and began recruiting their peers. Shortly thereafter, TIAA-CREF Tuition Financing, Inc. was selected as the program manager and worked with TPC to develop the program.

"The recognition from BusinessWeek acknowledges both the quality of this product as well as its distinction within the 529 marketplace," says Patrick Lulley, National Product Manager, Education Savings. "It's a credit to all of the colleges and those of us at TIAA-CREF who have worked so hard to see this product from design to implementation."

Business Week winnows the field of product candidates down to 25 for its annual "Best Products" issue, and the I-529 was one of only two financial products cited.

Here is what the magazine said about it: "Lock in today's tuition at 230 private colleges with the Independent 529 Plan. Put in $10,000 and in 2014 you'll have 39% of a year paid for at Princeton, 38% at Notre Dame. Get a refund if your child goes to State U."

"We're all very excited and proud about having our Independent 529 Plan recognized by BusinessWeek as one of the "Best Products of 2003," says Phil Rollock, Vice President, Education Savings. "It's great news for our colleges, consumers and for TIAA-CREF."

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