Oklahoma 529 College Savings Plan

Fees and Expenses

The following table describes the fees and expenses that you pay if you open and contribute to an account in the Oklahoma College Savings Plan. These fees are directly or indirectly paid out of the assets of your account. Except for the fees listed below, there are currently no other fees, charges or penalties imposed or payable in connection with opening or maintaining an account, other than any taxes and related penalties. The Board reserves the right to change the current fees, or to impose new or additional fees, expenses, charges or penalties in the future.

Fee Table

ANNUAL ASSET-BASED FEES ADDITIONAL INVESTOR EXPENSE
Investment Option

Managed
Allocation Option		 Estimated Underlying Mutual Fund Expenses (a) Program Manager Fee (b) State Fee (c) Miscellaneous Fees TOTAL ANNUAL ASSET-BASED FEES (d) Other Fees

Age Band 1 (0-3 Years)

 0.18% 0.65% None None 0.83% None

Age Band 2 (4-7 Years)

 0.20% 0.65% None None 0.85% None

Age Band 3 (8-11 Years)

 0.23% 0.65% None None 0.88% None

Age Band 4 (12-14 Years)

 0.24% 0.65% None None 0.89% None

Age Band 5 (15-17 Years)

 0.24% 0.65% None None 0.89% None

Age Band 6 (18 and over)

 0.21% 0.65% None None 0.86% None
Diversified Equity
Option 
 0.36%  0.65% None  None 1.01%  None 
100% Equity Option 
 0.14%  0.65% None  None 0.79%  None 
Balanced Option 
 0.35%  0.65% None None  1.00%   None
Fixed-Income Option 
  0.33% 0.65% None  None 0.98%   None
Guaranteed
Option (f)
 None(e) None (e)  None  None None  None 

 

(a)

Each Account invested in the Program's Investment Options other than the Guaranteed Option pays its pro rata share of the operating expenses of each Mutual Fund (generally 0.08% to 0.55% of the average daily net assets) held in such Investment Option. Underlying Fund Expenses include payment to the Program Manager's affiliates, for investment advisory, administrative and other expenses. The information provided in this column is (i) based on the total net operating expense ratio of the institutional class of shares of each Mutual Fund for the most recent fiscal year reported in the Mutual Funds' current prospectus and (ii) for each Age Band of the Managed Allocation Option invested in multiple Mutual Funds, and for Program assets allocated to the Diversified Equity Option, the 100% Equity Option, the Balanced Option and the Fixed Income Option, which are also invested in multiple Mutual Funds, based on a weighted average of each Mutual Fund's expense ratio in accordance with the relevant allocations among the Mutual Fund's current prospectus. The total net operating expense ratio measures the annual operating expenses of a Mutual Fund as a percentage of its average daily net assets.

(b)

The Program Manager Fee with respect to the Managed Allocation Option, the Diversified Equity Option, the 100% Equity Option, the Balanced Option and the Fixed Income Option may not exceed 0.65% of the average daily net assets of the Program invested in these Investment Options.

(c)

Account Owners are not charged a State Fee.

(d)

Total Annual Asset-Based Fees are the total fees assessed against Accounts over the course of a year determined by adding together amounts in the prior columns. Please see the investment cost example chart below for the assumed investment cost of these fees over 1-, 3-, 5-, and 10-year periods.

(e)

Account Owners are not subject to any additional charge to pay for the expenses of the Funding Agreement held in the Guaranteed Option. Although TIAA-CREF Life pays an annual asset-based expense fee to the Program Manager for distribution, administration and other reasonable expenses with respect to assets invested in the Guaranteed Option, this fee is not deducted from your Account. This fee is based upon the amount of assets in the Guaranteed Option and may be discontinued at any time by TIAA-CREF Life. The interest rate for the Funding Agreement is set periodically by TIAA-CREF Life after consideration of several factors including the amount of this fee, and in any event, such rate is no less than the Minimum Rate. The expiration date of the Funding Agreement is April 4, 2010.

(f)

The Guaranteed Option provides a guarantee of principal and a minimum rate of interest to OCSP, but not to account owners and beneficiaries.



Investment Cost Example

The example in the following table is intended to help you compare the cost of investing in the different Investment Options over various periods of time. This hypothetical example assumes that:

  • You invest $10,000 in an Account for the time periods shown below.
  • Your investment has a 5 percent compounded return each year, except for the Guaranteed Option, which is assumed to have a 3 percent compounded return each year. Actual performance will vary.
  • You withdraw the assets from your Account at the end of the specified periods for Qualified Higher Education Expenses.
  • Total annual asset-based fees remain the same as shown in the Fee Table above.
  • The example does not consider the impact of any potential state or federal taxes on the redemption.

Although your actual costs may be higher or lower, based on the above assumptions your costs would be:

Investment Options Approximate Cost of
$10,000 Investment
 
 		 One
Year		 Three
Years		 Five
Years		 Ten
Years
Managed Allocation Option
Age Band 1 (0-3 Years) $85 $266 $462 $1,029

Age Band 2 (4-7 Years)

 $87 $272 $473 $1,052

Age Band 3 (8-11 Years)

 $90 $282 $490 $1,088

Age Band 4 (12-14 Years)

 $92 $288 $500 $1,112

Age Band 5 (15-17 Years)

 $92 $288 $500 $1,112

Age Band 6 (18 and over)

 $88 $275 $479 $1,064

Diversified Equity Option

 $100 $314 $544 $1,206

100% Equity Option

 $81 $253 $440 $981

Balanced Fund Option

 $100 $314 $544 $1,206

Fixed Income Option 

 $101 $317 $549 $1,217

Guaranteed Option 

 $0 $0 $0 $0



Additional Fees
The table below indicates that there are no additional fees and expenses deducted from each Account/paid directly by the Participant.


  Percent Dollars

Application Fee

 0% $0

Cancellation Fee

 0% $0

Change in Beneficiary

 0% $0

Change in Investment Options

 0% $0

Other Charges as Applicable

 0% $0
 

Tell a Friend
Let a friend know about the Oklahoma College Savings Plan.
Webcast
CalculateCalculate Your
Savings Need
CompareCompare College
Savings Options
Questions?Questions?
Call 1-877-654-7284

The tax information contained on the OCSP Web site is not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding tax penalties that may be imposed on the taxpayer. It was written to support the promotion of the products and services addressed in the Web site. Taxpayers should seek advice based on their own particular circumstances from an independent tax advisor.

The Oklahoma College Savings Plan (OCSP) is administered by the Board of Trustees of the Oklahoma College Savings Plan. TIAA-CREF Tuition Financing, Inc. (TFI) serves as Program Manager. TFI's affiliate, TIAA-CREF Individual & Institutional Services, LLC, is the distributor.

The investment approaches described are not recommendations and do not take into consideration personal goals or preferences. After evaluating information you consider important in making an investment choice, the ultimate decision is up to you. It is a good idea to revisit your investment strategy periodically as your goals, personal financial situation, and market conditions change.

Consider the investment objectives, risks, charges and expenses before investing in the Oklahoma College Savings Plan. Please call toll-free 1-877-654-7284 for a Disclosure Booklet containing this information. Read it carefully.

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 State of Oklahoma, its agencies, TIAA-CREF Tuition Financing, Inc., Teachers Insurance and Annuity Association of America and its affiliates do not insure any account or guarantee its principal or investment return. Account value will fluctuate based upon a number of factors, including general market conditions.

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

© 2009 TIAA-CREF Tuition Financing Inc.