TIAA to Deliver An Estimated $38 Million in Annual Savings to Account Owners participating in the Kansas 529 Program

Kansas Treasurer Selects TIAA as New Program Manager for State Education Savings Plans Serving more than 228,000 account owners and families across the nation

CHARLOTTE, N.C., Jan. 22, 2026 /PRNewswire/ -- TIAA, the third largest and fastest growing provider of 529 plans in the U.S., today announced that the company has been selected by Kansas State Treasurer Steven Johnson to manage the state's $14.9 billion 529 post-secondary education savings program. The transition is part of a revitalization and rebrand of the program made up of the Learning Quest 529 Education Savings Program and the Schwab 529 Education Savings Plan and is estimated to deliver $38 million in annual savings to account owners and their families.

"In making this change, we carefully considered the enhancements and savings we could deliver to provide greater value to families saving for education," said Kansas State Treasurer Steven Johnson, administrator of the Kansas Section 529 Plans and national chair of the College Savings Plan Network. "Under new management with TIAA, our 529 offering will be one of the lowest-cost and best-in-class programs in America to keep even more of Kansans' contributions working for future education expenses."

The selection of TIAA by Kansas expands TIAA-managed education savings programs to $85 billion in assets under management for 2.3 million accounts across 10 states. The new and improved plan will deliver value to families through program enhancements while building on TIAA's century-long commitment to serving the state.

"This is one of the largest programs in the industry¹, and it reflects a simple truth: Kansas families deserve more of their savings working toward their children's futures," said David G. Nason, CEO of TIAA Wealth Management & Advice Solutions. "These savings represent real money staying in families' pockets, money that will now compound for education."

Unprecedented Cost Savings for Kansas

The transition of the Learning Quest 529 Plan and Schwab 529 Plan to TIAA as program manager will deliver the most significant fee reduction in Kansas 529 history:

• Learning Quest 529 Education Savings Program account owners will see a reduction in plan fees to 0.08% average total annual asset-based fees (lowest in the nation)¹
  • 78% fee reduction from current structure
• Schwab 529 Education Savings Plan account owners will see a reduction in plan fees to 0.17% average total asset-based fees
  • 59% fee reduction from current structure
• More than 228,000 current account owners benefit immediately

"For a typical Kansas family with $25,000 in their 529 account, these savings translate to hundreds of dollars in additional savings compounding over time, money that can fund an extra semester of textbooks or months of student housing," said Chris Lynch, President, TIAA-CREF Tuition Financing, Inc. "From retirement security to education savings, we are committed to helping Kansas families achieve their financial goals across every stage of life."

TIAA's role reflects trust built over decades of serving Kansas institutions and families. The firm currently manages retirement plans for Kansas Board of Regents, Johnson County Community College, and Washburn University representing $13 billion in retirement assets across 129 Kansas institutions serving 40,000+ Kansans.

One in four Americans now live in a state where the 529 plan is managed by TIAA, including direct-sold plans in California, Georgia, Illinois, Michigan, Minnesota, Oklahoma, Washington, Wisconsin, and Kansas, as well as advisor-sold plans for Colorado and Michigan.

Quest529: A Modern Plan and Identity for a New Era

As part of this transition, the Learning Quest 529 Education Savings Program will rebrand to Quest529 along with program enhancements:

• Enrollment year portfolios: Investment options automatically adjusted based on when students expect to use the funds for education purposes
• Modernized website: Improved navigation, streamlined content, enhanced planning tools
• READYSAVE™ 529 mobile app: Account access anytime, anywhere
• Ugift® online gifting tool: Friends and family can contribute directly to accounts

While TIAA assumes manager responsibilities, the collaborative partnership structure of the plan remains unchanged. The Kansas State Treasurer continues as Administrator. Charles Schwab & Co., Inc. continues to make available the Schwab 529 Education Savings Plan as well as providing marketing and client service. Ascensus Government Savings Recordkeeping Services continues providing administrative and online account management services.

Transition Details

Program management will transition after close of business on February 27, 2026, with conversion completed and the new Quest529 and Schwab 529 Plan platforms fully live on March 2, 2026. Additional information is available at LearningQuestEnhancements.com and Schwab.com/529 enhancements.

About TIAA

TIAA provides secure retirements and outcome-focused investment solutions to millions of people and thousands of institutions.² It paid more than $5.9 billion in lifetime income to retired clients in 2024³ and has $1.5 trillion in assets under management (as of 09/30/2025).⁴

TIAA-CREF Tuition Financing, Inc. (TFI) is the education savings division within TIAA. 

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The Schwab 529 Education Savings Plan is available through Charles Schwab & Co., Inc. Charles Schwab & Co., Inc. and TIAA are separate and unaffiliated companies.

©2026 Teachers Insurance and Annuity Association of America-College Retirement Equities Fund, New York, NY

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