TIAA Third Largest and Fastest Growing 529 Plan Manager in the U.S.
Empowering Families with Affordable, Tax-Advantaged Savings for a Secure Future
CHARLOTTE, N.C., Dec. 16, 2025 /PRNewswire/ -- TIAA, program manager of 529 education savings plans, today announced that it is the third largest and fastest growing provider by assets over the past 5-year period.1. With over $67 billion in assets under management, the firm supports more than 2 million accounts through ten state-sponsored 529 plans.1 One in four Americans live in a state where the 529 plan is managed by TIAA.
As the cost of higher education rises, TIAA's 529 plans empower families with affordable, tax-advantaged savings options offering, compound growth tax- deferral, and tax-free earnings for qualified withdrawals.
According to recent industry research, 529 industry assets reached a new all-time high of $561.8 billion, up 11.9% from the same time last year1.
"Becoming the third largest and fastest-growing 529 plan manager is a defining milestone for TIAA and a clear marker of our leadership and commitment in this space," said David Nason, CEO of TIAA Wealth Management & Advice Solutions. "Our 117% asset growth since 2020 reflects the deep trust that partner states and families place in TIAA to help secure their education and financial futures."
TIAA, a pioneer in the 529 education savings industry since entering the market in 1998, has leveraged its deep roots in the education sector to develop a model prioritizing affordability, quality, and accessibility. Today, TIAA manages direct-sold plans for California, Georgia, Illinois, Michigan, Minnesota, Oklahoma, Washington, and Wisconsin, as well as advisor-sold plans for Colorado and Michigan.
This includes creating innovative plans that meet the unique needs of state partners, introducing mobile tools to simplify account management, and providing easy, comprehensive investment options for families to ensure TIAA's programs meet the needs of diverse investors.
"With education costs on the rise, it is even more important for families to have access to low-cost, high-quality savings plans that can pave the way for a secure future," said Chris Lynch, President, TIAA Tuition Financing, Inc. "Whether it's saving for a secure retirement or for the cost of higher education, a long-term investment strategy can help build wealth and help families achieve their financial goals."
Early planning is the cornerstone of financial preparedness, and TIAA's leadership in the 529 sector helps ensure families can confidently navigate the rising costs of education while fostering financial security for years to come. Recent federal legislation has helped broaden the benefits of 529 accounts to include expanded K-12 approved expenses, uses for credentialing, licensing, continuing education programs, and an ability to roll an unused portion of 529 balances into Roth IRAs for beneficiaries.
About TIAA
TIAA provides secure retirements and outcome-focused investment solutions to millions of people and thousands of institutions. I It paid more than $5.9 billion in lifetime income to retired clients in 2024II and has $1.5 trillion in assets under management (as of 09/30/2025).III
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Please read the Plan Description on www.tiaa.org/529 carefully prior to investing, for details on its investment objectives, risks, charges and expenses, and whether your home state offers tax or other benefits such as financial aid, scholarship funds, or protection from creditors for investing in its own 529 plan. More information about municipal fund securities is available in the issuer's Plan Description. Investments in the plan are neither insured nor guaranteed and there is the risk of investment loss. Consult your legal or tax professional for tax advice.
TIAA-CREF Tuition Financing, Inc. (TFI) is the Plan Manager for eight direct-sold state 529 plans and two advisor-sold plans. TIAA-CREF Individual & Institutional Services, LLC, Member FINRA is the direct-sold distributor and Nuveen Securities, LLC, is the advisor-sold distributors.
1. ISS Market Intelligence 529 Quarterly Update, as of 9/30/25. | |
I. | Based on data in PLANSPONSOR's 2025 DC Recordkeeping Survey published June 25, 2025. |
II. | As of December 31,2024, TIAA paid out $5.9B in total annuity income. This figure represents all annuity income, including guaranteed and additional amounts, for all of TIAA's annuity products. |
III. | As of September 30, 2025, assets under management across Nuveen Investments affiliates and TIAA investment management teams are $1,487 billion. |
©2025 Teachers Insurance and Annuity Association of America-College Retirement Equities Fund, New York, NY.
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SOURCE TIAA