Utah Educational Savings Plan® - Utah's official nonprofit 529 college savings plan 800.418.2551
 
Utah Educational Savings Plan

Public Treasurers' Investment Fund

(Formerly Option 1: PTIF)

Option Characteristics

All of the account money in this investment option is allocated to the Public Treasurers' Investment Fund (PTIF).

The Public Treasurers' Investment Fund invests to maintain safety of principal, liquidity, and a competitive return on short-term investments. Securities in the fund include certificates of deposit, money market securities, commercial paper, short-term corporate notes, obligations of the U.S. Treasury, and certain agencies of the U.S. government.

These securities are issued by top-rated, highly credit-worthy corporations and government agencies.

Fees

Effective March 1, 2012

Public Treasurers' Investment Fund Utah Resident Fees Non-Utah Resident Fees
Estimated Underlying Fund Expense Ratios1 (A) 0.000% 0.000%
UESP Administrative Asset Fee2 (B) 0.000% 0.200%
Total Annual Asset-Based Fees (A+B) 0.000% 0.200%

1. The estimated expenses per age bracket or investment option represent the weighted averages of the expense ratios of the applicable Vanguard mutual funds in which each investment option is invested. The expense ratios for the individual mutual funds are shown in the Program Description. The operating expense ratios of the Vanguard mutual funds are charged against the investments in the funds on a daily basis. There are no expense ratios for the FDIC-Insured Savings or the Public Treasurers' Invesment Fund investment options.

The Vanguard operating expense ratios apply to the Vanguard funds included as underlying investments in UESP and are net of any “Acquired Fund Fees and Expenses” otherwise applicable to each Vanguard fund.

2. The UESP Administrative Asset Fee is 0.15% to 0.20% annually, charged monthly on the last business day of each calendar month (0.0125% to 0.0167% per month).

The UESP Administrative Maintenance Fee is up to $15 annually, charged monthly on the last business day of each calendar month (up to $1.25 per month on account balances of $5,000 or more). This fee is waived for Utah resident account owners. It is also waived for non-Utah residents who choose to view their quarterly account statements online rather than receive them in the mail.

Important Legal Notice:

You should read the Program Description and consider all investment objectives, risks, charges, and expenses before investing. The Program Description is available for download on the web or a hard copy can be mailed to you by requesting it online here.

FDIC Insurance. Except for the underlying investment specified below, investments in UESP are not insured by the Federal Deposit Insurance Corporation (FDIC). FDIC insurance is provided for the FDIC-insured savings account held in trust by UESP at Zions First National Bank (Bank). Funds in the savings account are insured by the FDIC on a pass-through basis to each account owner up to the maximum amount set by federal law, which is $250,000. The amount of FDIC insurance provided to an account owner is based on the total of (1) the value of an account owner’s investment in the FDIC-insured savings account plus (2) the value of other accounts held (if any) at the Bank, as determined by the Bank and by FDIC regulations.

No Other Insurance and No Guarantees. Investments in UESP are neither insured nor guaranteed by the State of Utah, UESP, the Utah State Board of Regents, the Utah Higher Education Assistance Authority, other state agencies, federal government agencies (except to the extent noted above regarding FDIC insurance), or any employees or directors of any such entities. Units in UESP have not been registered with the United States Securities and Exchange Commission or with any state securities commission.

Account Value. The value of your UESP account may vary depending on market conditions and the performance of the investment option you select. It could be more or less than the amount you contribute; in short, your investment could lose value. However, subject to the application of Bank and FDIC rules and regulations to each account owner, funds in the FDIC-insured savings account will retain their value, whether in the FDIC-Insured Savings investment option or when allocated to portions of the Age-Based Aggressive Growth, Age-Based Growth, Age-Based Moderate, Age-Based Conservative, Customized Age-Based, or Customized Static investment options (if, in the customized investment options, the FDIC-insured savings account is selected as an underlying investment).

Non-Utah Taxpayers and Residents. You should determine whether the state in which you or your beneficiary pay taxes or live offers a 529 plan that provides state tax or other benefits not otherwise available to you by investing in UESP. You should consider such state tax treatment and benefits, if any, before investing in UESP.