Utah Educational Savings Plan

Age-Based Moderate

Investment Option Characteristics

This investment option includes moderate allocations to domestic and international equity funds.

This investment option allocates a higher percentage of account money to three equity funds (including domestic and international) and a smaller percentage to three fixed-income funds until the beneficiary turns age 10. At that time, the investment option allocates a higher percentage to fixed-income funds and the FDIC-insured accounts is added. Once the beneficiary turns age 19 or the account owner/agent submits a qualified withdrawal request indicating the beneficiary is enrolled in an eligible educational institution, whichever comes first, all of the account money will be reallocated to the fixed-income funds and the FDIC-insured accounts.

Asset Fee Structure Table

Beneficiary Age Brackets and Fees
Age-Based Moderate 0-3 4-6 7-9 10-12 13-15 16-18 19+ or
College
Enrolled3
Estimated Underlying Fund Expense Ratios 1 (A) 0.037% 0.037% 0.040% 0.040% 0.038% 0.033% 0.011%
UESP Administrative Asset Fee 2 (B) 0.170% 0.170% 0.170% 0.170% 0.170% 0.170% 0.170%
Total Annual Asset-Based Fees (A+B) 0.207% 0.207% 0.210% 0.210% 0.208% 0.203% 0.181%

1. The estimated expenses per age bracket or investment option represent the weighted averages of the expense ratios of the applicable underlying 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 mutual funds are charged against the investments in the funds on a daily basis. The underlying fund expense ratios apply to the Vanguard and Dimensional funds included as underlying investments in UESP. There are no underlying investment expense ratios assessed on the FDIC-insured accounts. The underlying investment expense ratio for the Public Treasurers' Investment Fund is 0.005 percent, which UESP pays in full. UESP reserves the right to discontinue or limit paying the underlying investment expense ratio on the Public Treasurers' Investment Fund after giving notice to affected account holders.

2. The UESP Administrative Asset Fee is 0.110 to 0.200 percent annually, charged as described in the Fee Structure section of the Program Description (0.0092 to 0.0167 percent per month). The Administrative Asset Fee is waived for all accounts invested in the Public Treasurers’ Investment Fund that are owned by Utah residents.

3. UESP will reallocate the money to the Age 19+ or College Enrolled age bracket for accounts with an age-based investment option, including the Customized Age-Based investment option, when the beneficiary turns age 19 or a qualified withdrawal request is submitted by the account owner/agent indicating that the beneficiary is enrolled in an eligible educational institution, whichever comes first.