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Frequently Asked Questions - Beneficiaries

		Who can be the beneficiary of an account? Who qualifies as member of the family? Can I change the beneficiary of my account?

Who can be the beneficiary of an account?

Any U.S. citizen or resident alien, including the account holder, can be the beneficiary. The beneficiary must have a valid Social Security Number or taxpayer identification number.

Who qualifies as member of the family?
A "member of the family" of a Beneficiary is a person related to that Beneficiary as follows: (i) a son or daughter, or a descendant of either; (ii) a stepson or stepdaughter; (iii) a brother, sister, stepbrother or stepsister; (iv) the father or mother, or an ancestor of either; (v) a stepfather or stepmother; (vi) a son or daughter of a brother or sister; (vii) a brother or sister of the father or mother; (viii) a son-in-law, daughter-in-law, father-in-law, mother-in-law, brother-in-law or sister-in-law; (ix) the spouse of the Beneficiary or of any of the other foregoing individuals; or (x) a first cousin of the Beneficiary. For this purpose, a child includes a legally adopted child and a brother or sister includes a half-brother or half-sister.

Can I change the beneficiary of my account?
Yes, you can change your beneficiary at any time, or transfer a portion of your investment to a different beneficiary. The new beneficiary must be a member of the previous beneficiary's family, as described in the MESP Disclosure Booklet and Participation Agreements (PDF, 476KB). Use the Change of Beneficiary form (PDF, 52KB).

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	Michigan Education Trust

The tax information contained on the Michigan Education Savings Program (MESP) 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.

Consider the investment objectives, risks, charges and expenses before investing in the Michigan Education Savings Program. Please call toll-free 1(877) 861-6377 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.

TIAA-CREF Individual & Institutional Services, LLC, distributes MESP. The State of Michigan, 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 except for TIAA-CREF Life Insurance Company's guarantee to MESP under the funding agreement for the Principal Plus Interest Option. Account value will fluctuate based upon a number of factors, including general market conditions.

Investment management, program administration and distribution of The Michigan Education Trust (MET) program is provided solely by the Michigan Department of Treasury. MET is not managed by TIAA-CREF Tuition Financing, Inc. nor is it distributed by TIAA-CREF Individual & Institutional Services, LLC.

The MESP Web site contains links to other Web sites. Neither MESP 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.