The Connecticut Higher Education Trust 529 College Savings Program

Sponsored by the state of Connecticut and managed by Fidelity beginning February 8, 2021

Welcome to Fidelity

Key dates and actions for account holders


  • Blackout period
    On Monday, February 8, your CHET 529 plan account will automatically move to Fidelity Investments. In order to facilitate this transition, account owners will be unable to transact on their accounts beginning at 4:00 p.m. ET on Thursday, February 4, until Monday, February 8, at 8:00 a.m. ET. At that time, your plan will need to be activated on Fidelity.com (steps are outlined below).

  • Direct deposits through your employer from your paycheck
    Account owners should cancel existing direct deposits with their employers before Friday, January 29. Direct deposits received after Thursday, February 4, at 4:00 p.m. ET will be returned to your employer. You will have the option to reestablish direct deposits with your employer on or after February 8 with your new account number.

  • Automatic contributions from your bank account (e.g., checking or savings account)
    Stopping automatic contributions is not required for account owners. They will be discontinued automatically before the transition on February 8.

  • Statements
    For your personal records you may want to download a copy of your latest statement and tax forms by logging into your account before Friday, February 5, at 4:00 p.m. ET.

On or after February 8, 2021

  • Your plan will need to be activated on Fidelity.com
  1. Existing Fidelity customers: Visit Fidelity.com and log in with your username and password.
  2. New to Fidelity: Visit the Fidelity profile pageLog In Required. Click "Register now" and follow the steps to set up your online access.
  3. You'll see an activation link next to your new Fidelity CHET account number. Click this link and follow the instructions to activate your 529 account(s).
  4. Once your account is activated, you'll be able to reestablish or set up features like automatic contributions (from a checking or savings account for example) and direct deposit from your employer.

Frequently asked questions about the CHET 529 plan and Fidelity

Account management

Your account investments

CHET programs

  • What is the CHET Baby Scholars program, and will it still continue once the plan moves to Fidelity?

    Yes, if you are currently enrolled in the Baby Scholars program, are having a baby, or adopting a child and would like to enroll, you'll still be able to do so as long as you meet the program criteria.

    The CHET Baby Scholars program provides up to $250 for future college costs for Connecticut residents that have (1) babies less than a year old or (2) adopted children before the first anniversary of the adoption. Here's how it works:

    • You must have or open a CHET account to be eligible.
    • Once you open your account and enroll in CHET Baby Scholars, CHET will automatically deposit $100 into your account.
    • If the account is opened with $150 (or more), the full $250 match will be triggered. If you open your account with less than $150, your account will be reviewed on a quarterly basis. Once an additional $150 in contributions is received into the account and before the child turns 4, an additional $150 match will be triggered. Any earnings growth will not be counted toward the $150; the full $150 must be actual contributions.

About Fidelity

  • Why was Fidelity named the new program manager of the plan?

    State Treasurer Shawn T. Wooden, CHET plan trustee, selected Fidelity to be the new program and investment manager for the CHET plan because of the experience we can provide to help Connecticut families reach their college savings goals.

  • What else can you tell me about Fidelity’s 529 plan portfolios and expenses?

    With regard to expenses, there are no annual account fees or minimums required to open any of the Fidelity-managed 529 plan accounts. The fees charged are incorporated into the total expense ratio, including the program management fee which covers the cost of trust administration services (recordkeeping, statements, and customer service). Mutual fund fees are also included in the expense ratio. Each of the mutual funds that the portfolios invest in charges investment management fees and other expenses that vary by portfolio; the plans do not invest in any mutual fund with a sales charge or commission fee.

    Expense ratios may vary by plan. You can find the range of expense ratios on the plan pages, in the account details section.

    It's important to choose an investment mix that you'll be able to live with—one that won't keep you up at night when market volatility strikes. But it should also provide the potential for growth that will help you reach your goals. Historically, investors have balanced those needs by investing in age-based mutual fund portfolios that include a blend of stocks, bonds, and short-term investments that adjust over time to grow more conservative as a student nears college age.

    For more about the investment options Fidelity offers, visit 529 plan investment options.

  • What makes Fidelity's 529 experience different?

    We're able to provide CHET 529 plan participants with a robust set of guidance tools, educational materials, dedicated college planning representatives, and an extensive array of funds, in addition to over 70 years of deep investing experience. You'll also be able to take advantage of:

    • A variety of flexible investment options: The CHET 529 plan will offer 37 professionally managed investment portfolios, including active, blend, index age-based, static allocation, and individual fund portfolios. With so many available choices, you can build and customize your CHET account in accordance with your personal savings goals.
    • 24-hour account access and customer service: View and manage your account anytime at Fidelity.com. Should you need help, our dedicated customer service representatives are available Monday–Friday from 8 a.m.– 9 p.m. ET.
    • Security & privacy: We leverage the latest technology and encryption to better protect your personal information and financial transactions.
  • But I'm happy with what I've got. What if I don't want to move my account? Why should I keep my CHET 529?

    Besides the benefits we've already mentioned—such as our guidance tools and a wide range of investment options—we seek to add value in as many ways as we can. Some additional things you may want to consider include:

    • Specialized college planning content on Fidelity.com: We cover the college planning journey from opening a 529 through to graduation, so you can plan for, react to, and anticipate the life moments that matter—including those that may impact your finances.
    • Easy college gifting: Friends and family can easily contribute to your 529 account with a customized gifting page and private dashboard that you can edit, send invitations from, track gifts to, and more. We've even got online content to help everyone understand the importance of gifting and tips on how to ask for gifts to your 529 account.
  • Is gifting to a Fidelity 529 plan account allowed?

    Gifting is both allowed and encouraged. Once you set up a college gifting dashboard on your account, you'll be able to share a link with your friends and family. They won't see any of your personal details, but they’ll be able to gift money electronically to your account. Visit the College gifting page to learn more.

shawn-wooden

An announcement from Connecticut State Treasurer Shawn T. Wooden


Fidelity Investments has been selected as the new program and investment manager for the Connecticut Higher Education Trust (CHET) 529 College Savings Program.

Why invest in a 529 college savings plan with Fidelity?

Starting February 8, 2021, you'll be able to open new CHET 529 accounts with Fidelity.

A range of investment choices
Choose either an age-based or a custom strategy to fit your specific investment goals with no annual account fees or minimums.

College savings tools
Visit the Learning Center for different savings approaches, tactics to help increase your savings, and other options to help pay for school.

College gifting service
Friends and family can send gifts directly to your 529 with our free, online college gifting service. Gifters don't need a Fidelity account.


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Questions?
800-544-1914