Home / FAQ / Frequently Asked Questions - Beneficiaries Who can be the beneficiary of an account? Can I change the beneficiary of my account? Who qualifies as a member of the family?           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. 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 Minnesota College Savings Plan Disclosure Booklet and Participation Agreements (PDF, 773KB). Effective November 1, 2007, transfers (including transfers when there is a change of the Beneficiary) from the Guaranteed Option to the Money Market Option will not be permitted. (If this restriction changes, investors will be notified prior to the effective date of any such change.) Use the Change of Beneficiary form (PDF, 52KB).   Who qualifies as a 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. Read more FAQs.

WE'RE HERE TO HELP Have a question you don't see listed? Need clarification? Call us toll-free at 1-877-338-4646 We're available 7:00 am to 7:00 pm Central Time, Monday - Friday. Don't forget you can set up the Automatic Contribution Plan (PDF, 50KB) or use Payroll Deduction (PDF, 46KB) for your contributions (if offered by your employer). PDF files require the free Adobe Acrobat Reader. Get it here. Access our glossary for the meanings of terms used throughout this site. Tell a Friend Let a friend know about the Minnesota College Savings Plan. Calculate Your Savings Need Compare College Savings Options Questions? Call 1-877-338-4646

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The tax information contained on the Minnesota College Savings Plan 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 Minnesota College Savings Plan. Please call toll-free 1(877) 338-4646 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 Minnesota College Savings Plan. The State of Minnesota, 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 Minnesota College Savings Plan under the funding agreement for the Guaranteed Option. Account value will fluctuate based upon a number of factors, including general market conditions.

The Minnesota College Savings Plan Web site contains links to other Web sites. Neither Minnesota College Savings Plan 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.

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© 2007 TIAA-CREF Tuition Financing, Inc. TIAA-CREF Individual & Institutional Services, LLC, distributes Minnesota College Savings Plan. 2008 TIAA-CREF Tuition Financing Inc.