Aim HighFor Higher EducationEdvest: Wisconsin’s 529 College Savings Plan

2 Edvest.com | (888) 338-3789

3 Aim High for your Child’s Future

4 How Edvest Works

5 Edvest Offers Tax Advantages

6 Edvest is Flexible to Use

7 Investment Options

8 Choose your Own Investment Strategy

9 Age-Based Investment Options

10 Multi-Fund Investment Portfolios

11 Single Fund Investment Options

12 Your Questions Answered

13 Still Have Questions?

14 An Education Plan is Important. Choosing the Right One for you is Essential.

3 Edvest.com | (888) 338-3789

Higher EarningsExpected Full-Time Lifetime Earnings Relative to High School Graduates, by Education Level

Source: The College Board, Education Pays 2013. http://trends.collegeboard.org

Note: Based on the sum of median 2011 earnings for full-time year-round workers at each age from 25 to 64 for each education level. No allowance is made for the shorter work life resulting from time spent in college or out of the labor force for other reasons. Future earnings are discounted at a 3% annual rate to account for the reality that because of forgone interest, dollars received in the future are not worth as much as those received today. Discounting does not have a large impact on the lifetime earnings ratios. The calculations are illustrative and do not represent what individuals will actually earn in the future. Earnings ratios calculated using data from another year will likely yield slightly different results. For example, the earnings ratio of bachelor’s degree recipients to high school graduates is 1.61 based on 2005 earnings data, 1.66 based on 2008 earnings data, and 1.65 based on 2011 earnings data. Sources: U.S. Census Bureau, 2012, Table PINC-03; calculations by the authors.

Aim High for your Child’s FutureAs a parent, you want to give your child or loved one a good education and a strong future. Higher education offers students a chance to open their minds, acquire knowledge and develop skills. Whether a four-year college, community college or technical school, higher education can translate into higher earning power and steadier employment throughout one’s career.

Students need to be prepared educationally and financially for higher education. Without help, many students could graduate with unwanted debt, potentially limiting their ability to buy a first home, provide for their families and save for retirement.

But saving for college doesn’t have to be overwhelming. There are a variety of resources you can tap. Ask relatives, such as grandparents, for support, since a cash gift for college can have a lasting and meaningful effect. In addition, the Edvest College Savings Plan can help. With tax advantages, gift ideas, low fees and automatic contribution plans, Edvest’s flexible features can go a long way toward helping you achieve your college savings goals.

Visit our website at Edvest.com. Check out other online resources designed to help families plan for higher education. These include: Studentaid.ed.gov and Edpubs.gov.

Ready to Enroll? Two Easy Ways:

• Online at Edvest.com

• Complete and mail the enclosed application, along with your initial contribution, to:

Regular mail: Edvest College Savings Plan P.O. Box 55189 Boston, MA 02205-5189

Overnight mail: Edvest College Savings Plan 30 Dan Road Canton, MA 02021-2809

• We’re here to help. Call us toll-free at (888) 338-3789.

• Please read the Plan Disclosure booklet carefully before opening an account.

0.72

1.001.13

1.27

1.65

1.96

2.43

2.92

Professional Degree

Doctoral Degree

Master’s Degree

Bachelor’s Degree

Associate Degree

Some College, No Degree

High School Diploma

Less than a High School

Diploma

Education Level

Earn

ings

Rat

io

0.00

0.50

1.00

1.50

2.00

2.50

3.00

3.50

Even Small Contributions can be MeaningfulAny amount of money that you add to your account each month, even the minimum, can lead to a stronger future for your child.

Years of Accumulation

Monthly Contribution

■ $50 ■ $100 ■ $200

$100,000

6 Years 12 Years 18 Years

60,000

20,000

0

This hypothetical example illustrates the future values of different regular monthly investments for different time periods and assumes an annual investment return of 6% with an initial investment of $5,000. It is hypothetical and presented for illustrative purposes only and does not reflect actual performances or predict future results of Edvest. It does not reflect the benefits of any Wisconsin or federal tax benefits or withdrawals. Actual results will vary with market conditions. Past performance does not predict future results.

4 Edvest.com | (888) 338-3789

How Edvest WorksWho can Open an Account?

The Edvest College Savings Plan is open to everyone. Parents, grandparents, friends and relatives at any income level can open an account for anyone. You can even open an account for yourself. Plus, more than one person can contribute to a single account.

Minimum Contribution

Open an account with as little as $25 per investment portfolio, and make additional contributions of at least $25. If your employer allows direct deposit from paychecks, the minimum contribution is $15 per investment portfolio per pay period.

Maximum Account Balance

The lifetime maximum account balance limit per beneficiary is $440,300*. An account may continue to grow beyond the maximum account balance limit, but no further contributions will be allowed.

Starting Early can Help

The sooner you start saving the more time your money has to grow. Opening an account when your loved one is a baby means that your money has up to 18 years to grow!

Edvest is a 529 college savings plan

The number 529 refers to the federal tax code section that provides federal tax advantages for qualified tuition savings programs. 401(k) plans are named after a federal tax code section as well. A 401(k) plan helps you save for retirement. A 529 college savings plan helps you save for college.

Encourage Support From Others

Grandparents, other relatives and friends may give your child gifts on birthdays and other occasions. Tell them you have opened an Edvest account for your child. Ask if they would be willing to give just a small toy or book, for example, and use the rest as a cash contribution toward college savings. If they are Wisconsin residents they may qualify for state tax advantages.

* Effective January 4, 2016 and subject to annual escalation. Please visit Edvest.com or call (888) 338-3789 for the current maximum account balance.

5 Edvest.com | (888) 338-3789

Edvest Offers Tax AdvantagesSave on Federal and State TaxesContributions to the Edvest College Savings Plan  may reduce a Wisconsin resident’s state taxable income each year*. Plus, any account earnings will be free from federal and Wisconsin state income tax, provided withdrawals are used for qualified higher education expenses. Limitations, restrictions and/or recapture provisions may apply. See the Disclosure Booklet for details.

Federal Estate and Gift Tax Benefits

Contributions to Edvest may reduce the taxable value of your estate. For example, money placed in a grandchild’s Edvest account, together with all the other gifts you give that grandchild in one year, may qualify for an annual federal gift tax exclusion of $14,000. Ask your tax advisor about your own situation.

Couples filing jointly can contribute up to $140,000 per child and take advantage of up to five years’ worth of tax-free gifts at one time ($70,000 for individual filers). Completed gifts are removed from your estate for tax purposes, so your investment goes toward a child’s education, not taxes. Consult your tax advisor about your situation.

Advantages of Tax-Free Growth Potential

The money that you add to your account each month can lead to a stronger future for your child.

O Website Tip!

How much will college cost?

When you go to Edvest.com, check out our College Savings Calculator. The calculator projects college costs in your child’s or loved one’s time frame and calculates how much more you need to save on a periodic basis to meet those costs. The Planner includes a college cost database with approximately 3,800 colleges. Be sure to use the College Savings Planner at least once a year to make sure you’re on track to meet your college savings goals.

* The maximum contribution amount eligible for reducing a Wisconsin resident’s 2016 state taxable income is $3,100 per beneficiary. Beginning in 2014, new rules allowed for greater amounts, based on an inflation calculation as well as the opportunity for contributions greater than the eligible amount each year to be used for subsequent years’ state tax benefits until exhausted. Please see Edvest.com or call (888) 338-3789 for the current amount.

This example assumes an initial investment of $5,000, monthly contributions of $100 and a hypothetical 6% annual rate of return over 18 years. The taxable account assumes a 28% federal and 5% state tax rate. The illustration does not represent the performance of any specific investment portfolio. Results may vary with general market conditions and are not guaranteed. Past performance does not predict future results.

6 Edvest.com | (888) 338-3789

Edvest is Flexible to UseYou can Use Edvest Funds:

• At thousands of eligible educational institutions nationwide and at many abroad— including technical colleges, colleges and universities, graduate schools, and professional schools and certification programs.

• For tuition, fees, books, supplies and equipment required for enrollment or attendance at an eligible educational institution.

• For certain room and board expenses.

• For computers/tablets, hardware, software, printers, Internet access and related technology services when used primarily by the beneficiary when enrolled at an

eligible educational institution.

Who Controls the Money

As the account owner:

• You maintain complete control of the account regardless of your beneficiary’s age.

• You make the decisions from selecting the Edvest investment portfolios to withdrawing funds from your account.

• You can name a successor account owner and transfer ownership to another person.

You can Change Beneficiaries

• If your loved one does not need all the money or has other funding options such as a scholarship, you may transfer funds in your account tax free to other eligible family members of the original beneficiary, including siblings, a spouse and even a first cousin. See the Disclosure Booklet for more information.

• You can roll the money over from another 529 college savings plan into your Edvest account and take advantage of all the benefits of Edvest.

Note: Transfers and rollovers to another 529 plan may be subject to differences in features, costs and surrender charges. Indirect transfers may be subject to taxation and penalties. Consult your tax advisor about your own situation.

Low Fees

The Edvest College Savings Plan has no application, sales or account maintenance fees. Low fees mean more of your money goes to work toward future college expenses. For more information, refer to the Fee Table in the enclosed Disclosure Booklet.

Edvest’s Program Manager: TIAA-CREF Tuition Financing, Inc.TIAA-CREF Tuition Financing, Inc. (TFI), part of the TIAA group of companies, is a leader in 529 college savings plan management. TFI provides program management services for Edvest. TIAA-CREF Individual and Institutional Services, LLC, member FINRA, is the distributor and underwriter for Edvest. TIAA has combined assets under management of $854 billion as of December 31, 2015. TIAA is a national financial services group of companies and a leading provider of retirement services in the academic, research, medical and cultural fields.

* Based on assets under management across Nuveen Investments affiliates and TIAA investment management teams as of December 31, 2015.

O Website Tip!

With online access to your Edvest account, you can:

• Get account information

• Make contributions

• Start an Automatic Contribution Plan (ACP)

• Sign up for eDelivery of your statements and disclosure materials

• Request withdrawals for deposit to your bank account on file and even send funds directly to your beneficiary’s school

• Download account data into Quicken®

• All of this, and more can be done with your smartphone, tablet or computer.

7 Edvest.com | (888) 338-3789

Re-examine your Edvest account if:

• Your goals, time period for college investing or personal financial situation change.

• Long-term changes in the economy will affect how you save or invest.

• The balance in your account changes significantly due to varying performance of different investment portfolios.

You can transfer from one portfolio to another twice per calendar year. You can transfer money among portfolios if you are changing the beneficiary of the account.

Investment OptionsYou can direct your contributions to any one or a combination of Edvest’s 17 investment options. These vary in investment strategy and degree of risk, so you can choose an option or combination of options that’s right for you.

Why Risk is Important

Each investment portfolio has its own risks.

• Investments in growth stocks may be more volatile than other securities.

• Fixed income investing poses credit and interest rate risks; when interest rates rise, bond prices generally fall and the underlying fund’s share price can fall.

• Investment returns over your investment period could be lower than the rate of increase in higher education costs.

• International investing involves special risks — currency, political, social and economic.

• You could lose all or part of the value of your account.

Edvest Offers Broad Categories of Investment Options

Two Age-Based Investment Options — including an Aggressive Option. There are nine age bands in each Age-Based Investment Option, which automatically shift to a more conservative risk level as the beneficiary gets older.

• Multi-Fund Investment Portfolios.

– Three index-based portfolios.

– Three active-based portfolios.

– International Equity Index Portfolio

– Balanced Portfolio

• Single Fund Investment Options — Five portfolios that invest solely in shares of a single underlying fund.

• Stable Principal Investment Options.

– Bank CD Portfolio

– Principal Plus Interest Portfolio

8 Edvest.com | (888) 338-3789

Choose Your Own Investment Strategy Age-based investments are very popular, but if you prefer to construct your own asset allocation, you can pick investment portfolios that more directly match your tolerance for risk, your time horizon or other factors. Unlike the Age-Based Options, however, your unique investment allocation won’t automatically change as the child ages.

The more you invest and the earlier you start the more opportunity your money has to grow.

• Calculate how much you need to save.

• Set your goals.

• Set up an automatic contribution plan (ACP) and have your contributions electronically sent from your bank account to your Edvest account.

• Contribute through payroll deduction if your employer offers it.

9 Edvest.com | (888) 338-3789

Asset Allocations for the Age-Based Option

Age 0–4 Age 5–8 Age 9–10

W 74.40% Equities

W 5.60% Real Estate

W 20.00% Bonds

W 65.10% Equities

W 4.90% Real Estate

W 30.00% Bonds

W 55.80% Equities

W 4.20% Real Estate

W 40.00% Bonds

Age 11–12 Age 13–14 Age 15

W 46.50% Equities

W 3.50% Real Estate

W 50.00% Bonds

W 37.20% Equities

W 2.80% Real Estate

W 60.00% Bonds

W 27.90% Equities

W 2.10% Real Estate

W 70.00% Bonds

Age 16 Age 17 Age 18+

W 23.25% Equities

W 1.75% Real Estate

W 75.00% Bonds

W 18.60% Equities

W 1.40% Real Estate

W 80.00% Bonds

W 13.95% Equities

W 1.05% Real Estate

W 75.00% Bonds

W 10.00% Money Market

O Website Tip!

Compare College Savings Options

Go to Edvest.com and use our tool for comparing many popular ways to save for college. See how custodial accounts (UGMA/UTMA), Coverdell Education Savings Accounts, and 529 college savings plans differ.

Age-Based Investment OptionsContributions to the Age-Based Options will be placed in one of nine age bands (depending upon the age of your beneficiary), each of which has a different investment objective and investment strategy. As the child gets closer to college, assets are automatically shifted to a more conservative allocation.

Edvest offers both an Age-Based Investment Option and an Aggressive Age-Based Investment Option. Allocations for the Age-Based Investment Option are illustrated below. The Aggressive Age-Based Investment Option has similar allocations except each age band will invest a larger percentage of its assets in mutual funds that invest primarily in equity securities (including real estate securities) and a smaller percentage in mutual funds that invest primarily in debt securities.

10 Edvest.com | (888) 338-3789

Multi-Fund Investment PortfoliosIf you don’t want the automatic asset-allocation shift that age-based options provide, but you do want broad diversification, a multi-fund portfolio may be desirable to you. You may select among three index-based and three active-based portfolios.

Index-Based Portfolios Investment Objective and Strategy

Index-Based Aggressive Portfolio

Seeks a favorable long-term total return, mainly through capital appreciation. Invests in a

combination of index mutual funds that consist of domestic equities, international equities,

fixed income and REITs, with an emphasis on mutual funds investing in equities.

Index-Based Moderate Portfolio

Seeks moderate growth by investing in a combination of index mutual funds that consist of

domestic equities, international equities, fixed income and REITs.

Index-Based Conservative Portfolio

Seeks to provide moderate long-term total return mainly though current income by investing

in a combination of index mutual funds that consist of domestic equities, international equities,

fixed income and REITs, with an emphasis on mutual funds investing in fixed income.

Active-Based Portfolios Investment Objective and Strategy

Active-Based Aggressive Portfolio

Seeks a favorable long-term total return, mainly through capital appreciation. Invests in a

combination of actively-managed mutual funds that consist of domestic equities, international

equities, fixed income and REITs, with an emphasis on mutual funds investing in equities.

Active-Based Moderate Portfolio

Seeks moderate growth by investing in a combination of actively-managed mutual funds that

consist of domestic equities, international equities, fixed income and REITs.

Active-Based Conservative Portfolio

Seeks to provide moderate long-term total return mainly through current income by investing in

a combination of actively-managed mutual funds that consist of domestic equities, international

equities, fixed income and REITs, with an emphasis on mutual funds investing in fixed income.

Additional Portfolios Investment Objective and Strategy

International Equity Index Portfolio

Seeks to provide a favorable long-term total return, mainly through capital appreciation.

Balanced Portfolio Seeks to provide a favorable long-term total return through capital appreciation and income.

11 Edvest.com | (888) 338-3789

Single Fund Investment OptionsYou may want to use one or more Portfolios that invest in a single mutual fund, particularly if you have other college savings outside of Edvest and want to fine-tune your investment strategy.

Single Fund Portfolios Investment Objective and Strategy

Large-Cap Stock Index Portfolio

Seeks a favorable long-term total return, mainly from capital appreciation. Invests 100% of its assets

in the TIAA-CREF S&P 500 Index Fund, which attempts to track a benchmark index.

U.S. Equity Active Portfolio Seeks long-term capital appreciation. Invests 100% of its assets in the DFA U.S. Core Equity 1

Portfolio, an actively managed mutual fund investing in a broad and diverse group of common

stocks of U.S. companies with a greater emphasis on small-cap and value companies.

Social Choice Portfolio Seeks a favorable long-term total return that reflects the investment performance of the overall

U.S. stock market while giving special consideration to certain social criteria. Invests 100% of its

assets in the TIAA-CREF Social Choice Equity Fund, an actively-managed mutual fund.

Small Cap Index Portfolio Seeks a favorable long-term total return, mainly from capital appreciation. Invests 100% of its assets

in the TIAA-CREF Small-Cap Blend Index Fund, which attempts to track a benchmark index.

Bond Index Portfolio Seeks to provide current income along with a moderate long-term rate of return. Invests 100% of

its assets in the TIAA-CREF Bond Index Fund, which attempts to track a benchmark index.

Stable Principal Investment OptionsWant to be conservative? Edvest offers two portfolios that seek preservation of capital.

Portfolio Investment Objective and Strategy

Bank CD Portfolio Seeks income consistent with the preservation of principal by investing primarily in CDs, with a

maturity not to exceed 24 months, insured by the FDIC and issued by banks with a main, home, or

branch office located in Wisconsin (“Eligible Banks”). Interest rates payable on the underlying CDs

will be set by the issuing Eligible Banks based on current market conditions and are not uniform.

Principal Plus Interest Portfolio

Seeks to preserve capital and provide a stable return. Assets are allocated to a Funding

Agreement issued by TIAA-CREF Life to the College Savings Program Trust Fund on behalf of

the Plan. The Funding Agreement provides a minimum guaranteed rate of return and allows for

the possibility that additional interest may be credited. See Edvest.com for the current effective

annual interest rate.

12 Edvest.com | (888) 338-3789

Your Questions Answered1. Who can open an account?

Anyone can open an account regardless of income. This

includes parents, grandparents, friends or relatives. Account

owners must be a United States citizen or resident alien of

legal age with a valid Social Security Number or federal

Taxpayer Identification Number.

2. Who can be an account beneficiary?

As the owner of the account, you can designate anyone as

beneficiary  — even yourself. The beneficiary must have a valid

Social Security Number or federal Taxpayer Identification

Number. Only one person may be listed as beneficiary for

each account.

3. Can more than one person contribute to the account?

Anyone can contribute to an account as long as the

account balance does not exceed the maximum balance

limit of $440,300 per beneficiary*. The account owner

has sole control over the assets and decides when to

withdraw them.

4. Can I change the beneficiary?

You can change your beneficiary at any time or transfer

a portion of your investment to a different beneficiary.

The new beneficiary must be an eligible member of the

previous beneficiary’s family  — a sibling, for example.

See the Disclosure Booklet for more information.

5. What if my child or loved one decides not to attend college?

You have three choices. You can:

• Keep the funds in the account. The investments will

be available in future years if the beneficiary changes

his or her mind about school.

• Change the beneficiary to an eligible family member.

Consult your tax advisor about whether this may create

a taxable gift.

• Make a non-qualified withdrawal. Any earnings will be

subject to federal income tax and any applicable state

income tax, as well as an additional 10% federal tax.

6. Can friends and family contribute too?

Friends and family can contribute to your child’s

Edvest account in several ways: by check, by opening

& funding their own account for the child or with an

eGift. Visit www.edvest.com/gift to learn more.

7. Will an Edvest account hurt my child’s or loved one’s chances for financial aid?

• If the parent is the account owner, the account assets will

be treated as belonging to the parent for federal financial

aid purposes.

• If a dependent child is the account owner, or the

beneficiary of an account holding UGMA/UTMA assets,

account assets are treated as a parent asset for financial

aid purposes.

• Financial aid policies vary across post-secondary

institutions, so check with the institution directly for more

information.

8. What if my child or loved one receives a full or partial scholarship?

If the student receives a scholarship that covers the cost of

qualified higher education expenses, you can withdraw up to

the scholarship amount free of the 10% additional federal tax.

However, the earnings portion of the withdrawal is subject to

federal and Wisconsin income tax.

9. If I leave Wisconsin what will happen to my account?

If you move to another state you can still keep your money

invested in your Edvest account and you can continue

contributing to it. Remember, before investing in another

529 college savings plan, consider whether the state in

which you or your designated beneficiary resides has a 529

college savings plan that offers favorable state income tax

or other benefits that are available only if you invest in that

state’s 529 college savings plan.

10. Can I roll over funds from another 529 college savings plan into Edvest?

You can transfer funds for the same beneficiary every twelve

months without triggering tax consequences. Remember,

the 529 college savings plan from which you transfer funds

may be subject to differences in features, costs and surrender

charges. Consult your tax advisor or the other 529 college

savings plan provider before requesting a rollover.

11. How do I make withdrawals?

It’s easy to withdraw funds when your beneficiary is ready

for college. Withdrawals can be processed online from your

computer or mobile device, by completing and submitting a

Withdrawal Request Form or by calling (888) 338-3789.

* Effective January 4, 2016 and subject to annual escalation. Please visit Edvest.com or call (888) 338-3789 for the current maximum account balance.

13 Edvest.com | (888) 338-3789

Still Have Questions?

• Visit Edvest.com for more information on the features and benefits of Edvest.

• Call toll free: (888) 338-3789 Monday through Friday from 7:00 a.m. until 7:00 p.m. CT. One of our college savings plan specialists will answer your questions.

14 Edvest.com | (888) 338-3789

An Education Savings Plan is Important. Choosing the Right One for you is Essential.

The Edvest College Savings Plan Offers these Advantages:• Tax-deferred growth potential

• Plan contributions may reduce Wisconsin taxable income

• Tax-free withdrawals for qualified education expenses

• Gift- and estate-tax benefits

• Use funds for tuition, fees, supplies, required equipment, certain room and board expenses, computers/tablets, hardware, software, printers, internet access, and related technology services.

• Low minimum contributions, high account maximum

• Low fees

• Family and friends may contribute and potentially qualify to reduce their Wisconsin taxable income

Open Your Edvest Account Today

• Online: Edvest.com. Select “Open an Account”.

• Mail: Complete and sign the Edvest Account Application and return with your initial contribution in the enclosed envelope.

• Download, complete and sign the Edvest Account Application and mail with your initial contribution.

Consider the investment objectives, risks, charges and expenses before investing in the Edvest College Savings Plan. Please call toll-free 1-888-338-3789 or visit www.Edvest.com for a Plan Disclosure Booklet containing this and other information. Read it carefully. Investments in the Plan are neither insured nor guaranteed and there is the risk of investment loss.

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.

Taxpayers should seek advice based on their own particular circumstances from an independent tax advisor. Non-qualified withdrawals may be subject to federal and state taxes and the additional federal 10% tax.

The Edvest 529 College Savings Plan is offered by the State of Wisconsin. TIAA-CREF Tuition Financing, Inc. (TFI) is the Plan Manager. TIAA-CREF Individual & Institutional Services, LLC, member FINRA, is the distributor and underwriter for Edvest.

Neither TIAA-CREF Tuition Financing, Inc., nor its affiliates, are responsible for the content found on any external website links contained herein. All Edvest social media platforms are managed by the State of Wisconsin.

A13602:03/29 WI1210.XXB

C29735

Edvest.com (888) 338-3789

edvestconnection.com