TOMORROW S SCHOLAR. Wisconsin s 529 Plan. ... connecting to the future. Program Description and Participation Agreement.

TOMORROW S SCHOLAR Wisconsin s 529 Plan... connecting to the future Program Description and Participation Agreement May 1, 2014 Administrator: The Wisconsin College Savings Program Board

Tomorrow s Scholar 529 Plan Administrator: The State of Wisconsin Supplement No. 1 dated October 1, 2014 To the Tomorrow s Scholar 529 Plan Program Description and Participation Agreement dated May 1, 2014 This Supplement amends the Tomorrow s Scholar 529 Plan Program Description and Participation Agreement, dated May 1, 2014, (the Program Description ). You should review this information carefully and keep it with your current copy of the Program Description. Capitalized terms not defined herein have the meanings set forth in the Program Description. Changes to investment options: Effective at the close of business on December 1, 2014,the 1 st paragraph in the box next to Investment options in the section entitled Program summary on page 2 is deleted and replaced with the following: Account owners can choose among 39 Options, including age-based options, static options, and single fund options investing in Voya mutual funds and other mutual funds managed by Baillie Gifford Overseas Ltd. ( Baillie Gifford ), Blackrock Financial Management Inc. ( BlackRock ), CBRE Clarion Securities LLC ( Clarion ), Columbia Management Investment Advisers, LLC ( Columbia ), Delaware Investments Fund Advisors ( Delaware ), Hahn Capital Management, LLC ( HCM ), J.P. Morgan Investment Management Inc. ( JPMorgan ), Lazard Asset Management LLC ( Lazard ), LSV Asset Management ( LSV ), Northern Trust Investments, Inc. ( Northern ), Pacific Investment Management Company LLC ( PIMCO ), Teachers Advisors, Inc. ( TIAA-CREF ), T. Rowe Price Associates Inc. ( T. Rowe Price ), Templeton Investment Counsel, LLC ( Templeton ), Voya Investment Management Co. LLC ( Voya IM ), and Wellington Management Company, LLP ( Wellington ) ). Effective at the close of business on December 1, 2014, the 5 th sentence of the 1 st paragraph of the sub-section entitled Investment options Static allocation Options on page 9 is deleted and replaced with the following: Each Option seeks to obtain its objectives by investing primarily in Voya mutual funds managed by Baillie Gifford, BlackRock, Clarion, Delaware, HCM, JPMorgan, Lazard, LSV, PIMCO, T. Rowe Price, Voya IM, and Wellington that the Board has selected. Changes to Service and Transaction Fees: Effective May 1, 2014, the 4th sentence of the section entitled Fee structure Service and transaction fees on page 23 is deleted and replaced with the following: The annual fee will also be waived, regardless of residency, if the account balance is greater than $25,000 or if there is an AIP or payroll direct deposit of $25 per month in each Option (active for the 12 previous months without interruption) or for accounts established by employees of Voya and its affiliates. Changes to underlying fund details: Effective at the close of business on December 1, 2014, the second paragraph under the sub-section entitled Underlying funds details Voya Multi-Manager Mid Cap Value Fund on page 44 is deleted and replaced with the following: Sub-Adviser: LSV Asset Management; Hahn Capital Management, LLC; and Wellington Management Company, LLP

Effective September 30, 2014, the sub-section entitled Underlying funds details Domestic equity underlying funds - Voya Small Company Fund beginning on page 44 is deleted and replaced with the following: Voya Small Company Fund Sub-Adviser: Voya Investment Management Co. LLC Investment Objective: Growth of capital primarily through investment in a diversified portfolio of common stock of companies with smaller market capitalizations. Main Investments: The fund invests at least 80% of its net assets (plus borrowings for investment purposes) in common stocks of small-capitalization companies (defined as those companies included in the S&P SmallCap 600 Index or the Russell 2000 Index) at the time of purchase, or if not included in either index, have market capitalizations that fall within the range of the market capitalizations of companies included in the S&P SmallCap 600 Index or the Russell 2000 Index. The fund may also invest in real estate investment trusts. The fund may invest in derivative instruments including, but not limited to, put and call options. The fund may invest, to a limited extent, in foreign stocks. The fund may invest in other investment companies, including exchange-traded funds, to the extent permitted under the Investment Company Act of 1940, as amended, and the rules, regulations, and exemptive orders thereunder. The fund may lend portfolio securities on a short-term or longterm basis, up to 33 1 3% of its total assets. Main Risks: Company, currency, derivative instruments, foreign investments, investment model, liquidity, market, other investment companies, real estate companies and real estate investment trusts, securities lending, and small-capitalization company. SUP-WI529100114

Tomorrow s Scholar 529 Plan Administrator: The State of Wisconsin Supplement No. 2 dated December 2, 2014 To the Tomorrow s Scholar 529 Plan Program Description and Participation Agreement dated May 1, 2014 This Supplement amends the Tomorrow s Scholar 529 Plan Program Description and Participation Agreement, dated May 1, 2014, (the Program Description ) and Supplement No. 1 to the Program Description dated October 1, 2014. You should review this information carefully and keep it with your current copy of the Program Description. Capitalized terms not defined herein have the meanings set forth in the Program Description. Effective at the close of business on December 12, 2014, VY PIMCO Bond Portfolio is removed as an underlying investment from all age-based and static allocation options and as a single fund option; and all assets currently allocated to VY PIMCO Bond Portfolio in these options will be allocated to Voya Intermediate Bond Fund. Account owners with investments in VY PIMCO Bond Option will have investments in Voya Intermediate Bond Option at the close of business on December 12, 2014. Effective December 12, 2014, all references to VY PIMCO Bond Portfolio and VY PIMCO Bond Option are removed and the following changes are made to the Program Description: Changes to investment options: The 1 st paragraph in the box next to Investment options in the section entitled Program summary on page 2 is deleted and replaced with the following: Account owners can choose among 39 Options, including age-based options, static options, and single fund options investing in Voya mutual funds and other mutual funds managed by Baillie Gifford Overseas Ltd. ( Baillie Gifford ), Blackrock Financial Management Inc. ( BlackRock ), CBRE Clarion Securities LLC ( Clarion ), Columbia Management Investment Advisers, LLC ( Columbia ), Delaware Investments Fund Advisors ( Delaware ), Hahn Capital Management, LLC ( HCM ), J.P. Morgan Investment Management Inc. ( JPMorgan ), Lazard Asset Management LLC ( Lazard ), LSV Asset Management ( LSV ), Northern Trust Investments, Inc. ( Northern ), Teachers Advisors, Inc. ( TIAA-CREF ), T. Rowe Price Associates Inc. ( T. Rowe Price ), Templeton Investment Counsel, LLC ( Templeton ), Voya Investment Management Co. LLC ( Voya IM ), and Wellington Management Company, LLP ( Wellington ). The 5 th sentence of the 1 st paragraph of the sub-section entitled Investment options Static allocation Options on page 9 is deleted and replaced with the following: Each Option seeks to obtain its objectives by investing primarily in Voya mutual funds managed by Baillie Gifford, BlackRock, Clarion, Delaware, HCM, JPMorgan, Lazard, LSV, T. Rowe Price, Voya IM, and Wellington that the Board has selected. The line items for VY PIMCO Bond Portfolio in each of the tables entitled Static Allocation Options beginning on page 10 are deleted and the allocations for Voya Intermediate Bond Fund in the tables are amended as follows: Voya 529 Growth Option Voya 529 Moderate Growth Option Voya Intermediate Bond Fund 22.0% Voya Intermediate Bond Fund 25.0% Voya 529 Moderate Option Voya 529 Moderate Conservative Option Voya Intermediate Bond Fund 30.0% Voya Intermediate Bond Fund 32.0% Voya 529 Conservative Plus Option Voya 529 Conservative Option Voya Intermediate Bond Fund 28.0% Voya Intermediate Bond Fund 27.0% Voya 529 Ultra Conservative Option Voya Intermediate Bond Fund 30.0% 1

The following is added to the sub-section entitled Investment options Single Fund Options beginning on page 11: Voya Intermediate Bond Option, through its investments in Voya Intermediate Bond Fund, seeks to maximize total return through income and capital appreciation. Changes to fee structure details: The line item for VY PIMCO Bond in the table entitled Fee structure Estimated annual underlying fund expenses beginning on page 24 is deleted and the following line item is added: Option Estimated Underlying Fund Expenses Voya Intermediate Bond 0.34% The line item for VY PIMCO Bond in the table entitled Fee structure Total estimated annual fees and expenses on page 25 is deleted and the following line item is added: Option No Class Class A Class AR Class C Class C1 Class W Voya Intermediate Bond % N/A 0.77 1.52 1.52 N/A 0.52 The line items for VY PIMCO Bond in the table entitled Fee structure Examples of investment costs beginning on page 29 are deleted and the following line items are added: Option Class Number of Years You Own Your Shares 1 Yr 3 Yrs 5 Yrs 10 Yrs A (Sold or Held) $ 575 783 1,005 1,623 AR (Sold) $ 279 395 624 1,263 Voya Intermediate Bond AR (Held) $ 179 395 624 1,263 C (Sold) $ 279 554 949 1,660 C (Held) $ 179 554 949 1,660 W (Sold or Held) $ 78 241 414 895 Changes to underlying fund details: The sub-section entitled Underlying funds details Domestic fixed-income underlying funds - VY PIMCO Bond Portfolio beginning on page 46 is deleted. SUP-WI529120214 2

Tomorrow s Scholar 529 Plan Administrator: The State of Wisconsin Supplement No. 3 dated February 20, 2015 To the Tomorrow s Scholar 529 Plan Program Description and Participation Agreement dated May 1, 2014 This Supplement amends the Tomorrow s Scholar 529 Plan Program Description and Participation Agreement, dated May 1, 2014, (the Program Description ) and portions of prior supplements. You should review this information carefully and keep it with your current copy of the Program Description. Capitalized terms not defined herein have the meanings set forth in the Program Description. SUMMARY OF CHANGES Effective January 1, 2015, the lifetime exemption for Federal gift, estate and generation-skipping transfer taxes was increased to $5,430,000 for each contributor. Effective January 1, 2015, the limit for tax reduction for Wisconsin taxable income was increased to $3,100 per year. Effective January 1, 2015, the limit for changes in investment selection was increased to two times per calendar year for the same beneficiary. Effective at the close of business on February 20, 2015, VY Goldman Sachs Bond Portfolio is added as an underlying investment to the available fund lineup for the static allocation and age-based Options and additional modifications to the investment allocations are made. Effective at the close of business on February 20, 2015, Voya Global Perspectives Option is added as a single fund Option under the Plan. CHANGES TO PROGRAM DESCRIPTION As a result of the above, the Program Description is revised as follows: Changes to Tax treatment - effective January 1, 2015: The 1 st through 3 rd sentences of the 4 th paragraph in the sub-section Tax Treatment - Federal taxation of contributions and withdrawals Federal gift, estate and generation-skipping transfer tax treatment on page 21 are deleted and replaced with the following: In addition, to the extent not previously used, each contributor has a lifetime exemption that will be applied to gifts in excess of the annual exclusion amounts described above. This lifetime exemption is adjusted for inflation and is currently $5,430,000 for each contributor. A married couple may elect to split gifts and apply their combined exemption of $10,860,000. The 4 th and 5 th sentences of the 5 th paragraph in the sub-section Tax Treatment - Federal taxation of contributions and withdrawals Federal gift, estate and generation-skipping transfer tax treatment beginning on page 21 are deleted and replaced with the following: Each taxpayer has an estate tax exemption that is reduced by lifetime taxable gifts. This estate tax exemption is adjusted for inflation and is currently $5,430,000 for each contributor. The 4 th and 5 th sentences of the 6 th paragraph in the sub-section Tax Treatment - Federal taxation of contributions and withdrawals Federal gift, estate and generation-skipping transfer tax treatment on page 22 are deleted and replaced with the following: 1

Each contributor has a generation-skipping transfer tax exemption that may be allocated during life or at death. This generation-skipping transfer tax exemption is adjusted for inflation and is currently $5,430,000 for each contributor. The 2 nd paragraph in the box next to Wisconsin tax benefits in the section entitled Program summary on page 2 is deleted and replaced with the following: Contributors may reduce their Wisconsin taxable income up to a maximum of $3,100 per year. Qualified withdrawals are not subject to Wisconsin income tax. See Wisconsin state tax and information on page 22 for details. The 1 st sentence of the 1 st paragraph in the sub-section Tax Treatment - Wisconsin state tax and information - Contributions on page 22 is deleted and replaced with the following: Contributors may reduce their Wisconsin taxable income with contributions made to an account during the tax year, up to a maximum of $3,100 per beneficiary for each tax year (which may increase annually based on inflation). The 5 th sentence of the 1 st paragraph in the sub-section Tax Treatment - Wisconsin state tax and information - Contributions beginning on page 22 is deleted. The 2 nd paragraph in the sub-section Tax Treatment - Wisconsin state tax and information - Contributions on page 23 is deleted and replaced with the following: A married couple filing a joint return may reduce state taxable income with contributions, up to a maximum of $3,100 per beneficiary each year. A married couple filing separately may each claim a maximum reduction of $1,550. Divorced parents are each allowed to claim a maximum reduction of $1,550, unless the divorce judgment specifies a different division of the $3,100 combined maximum that may be claimed by each former spouse. The 3 rd sentence of the 1 st paragraph in the sub-section Tax Treatment - Wisconsin state tax and information - Withdrawals on page 23 is deleted and replaced with the following: The earnings portion of withdrawals, other than qualified withdrawals, will be included in the taxable income of the distributee and will be subject to Wisconsin income tax. The 4 th sentence of the last paragraph of the sub-section entitled Creditor protection on page 33 is deleted and replaced with the following: Under Wisconsin law, an Account in the Advisor Program is not subject to garnishment, lien, levy, attachment, execution, or other process of law. Changes to investment selection limit effective January 1, 2015: The 1 st paragraph in the box next to Change in investment selection in the section entitled Program summary is deleted and replaced with the following: Once an Option selection has been made, federal tax law allows an account owner to change the investment selection twice per calendar year and at any time a change in the beneficiary of the account is made. The 3rd and 4th sentences of the of the 1 st paragraph in the sub-section entitled Methods of contribution Automated dollar cost averaging ( DCA ) program on page 6 are deleted and replaced with the following: These automatic contributions are not considered reallocations for purposes of the twice per calendar year limitation on investment reallocations generally, if specified at the time the lump sum contribution is made. Stopping or changing the automatic contribution instructions with respect to prior contributions still remaining in the TIAA-CREF Principal Protection Option will constitute a reallocation for purposes of the twice per calendar year limitation (see Investment direction on page 16 for details). 2

The 1 st sentence of the 1 st paragraph in the sub-section entitled Investment performance Investment direction on page 16 is deleted and replaced with the following: An account owner may transfer funds among Options only twice per calendar year and upon a change in the account s designated beneficiary. The 2 nd sentence of the sub-section entitled Program and Option risks Limited investment direction on page 34 is deleted and replaced with the following: Once an Option selection has been made at the time of enrollment or subsequent contribution, federal regulations limit investment changes for existing balances twice per calendar year and at any time with a change in the designated beneficiary of the account. The 2 nd sentence of sub-section 6(b) of the Participation agreement on page 60 is deleted and replaced with the following: The Participant understands that the Option selected for an Account may be changed twice per calendar year and upon a change in the Designated Beneficiary, except as permitted by the Code and any applicable regulations, rules, announcements, notices, or other guidance issued thereunder. Changes to Investment Options - effective at the close of business on February 20, 2015: The 1 st paragraph in the box next to Investment options in the section entitled Program summary on page 2 is deleted and replaced with the following: Account owners can choose among 40 Options, including age-based options, static options, and single fund options investing in Voya mutual funds and other mutual funds managed by Baillie Gifford Overseas Ltd. ( Baillie Gifford ), Blackrock Investment Management, LLC ( BlackRock ), CBRE Clarion Securities LLC ( Clarion ), Columbia Management Investment Advisers, LLC ( Columbia ), Delaware Investments Fund Advisors ( Delaware ), Goldman Sachs Asset Management ( GSAM ), Hahn Capital Management, LLC ( HCM ), J.P. Morgan Investment Management Inc. ( JPMorgan ), Lazard Asset Management LLC ( Lazard ), LSV Asset Management ( LSV ), Northern Trust Investments, Inc. ( Northern ), Teachers Advisors, Inc. ( TIAA-CREF ), T. Rowe Price Associates Inc. ( T. Rowe Price ), Templeton Investment Counsel, LLC ( Templeton ), Voya Investment Management Co. LLC ( Voya IM ), and Wellington Management Company, LLP ( Wellington ). The 1 st sentence of the 1 st paragraph of the section entitled Investment options on page 8 is deleted and replaced with the following: An account owner has 40 Options to choose from, including 9 Static Allocation Options, 9 Age-Based Options, and 22 Single Fund Options. The 5 th sentence of the 1 st paragraph of the sub-section entitled Investment options Static Allocation Options on page 9 is deleted and replaced with the following: Each Option seeks to obtain its objectives by investing primarily in Voya mutual funds managed by Baillie Gifford, BlackRock, Clarion, Delaware, GSAM, HCM, JPMorgan, Lazard, LSV, T. Rowe Price, Voya IM, and Wellington that the Board has selected. The tables in the sub-section entitled Investment options Static Allocation Options beginning on page 10 are deleted and replaced with the following: 3

Static Allocation Options Voya 529 Aggressive Growth Option Voya Multi-Manager International Equity Fund 19.0% Voya Large Cap Growth Portfolio 14.0% Voya Large Cap Value Fund 14.0% Voya U.S. Stock Index Portfolio 13.0% Voya Corporate Leaders 100 Fund 10.0% Voya Multi-Manager Emerging Markets Equity Fund 6.0% Voya MidCap Opportunities Fund 5.0% Voya Intermediate Bond Fund 5.0% Voya Multi-Manager Mid Cap Value Fund 5.0% Voya Global Real Estate Fund 4.0% Voya Small Company Fund 3.0% Voya Emerging Markets Index Portfolio 2.0% Voya 529 Growth Plus Option Voya Multi-Manager International Equity Fund 16.0% Voya Large Cap Growth Portfolio 14.0% Voya Large Cap Value Fund 14.0% Voya U.S. Stock Index Portfolio 11.0% Voya Corporate Leaders 100 Fund 8.0% Voya Intermediate Bond Fund 8.0% Voya Multi-Manager Emerging Markets Equity Fund 5.0% Voya MidCap Opportunities Fund 4.0% Voya Multi-Manager Mid Cap Value Fund 4.0% Voya Global Real Estate Fund 4.0% Voya Small Company Fund 3.0% Voya Emerging Markets Index Portfolio 2.0% Voya Floating Rate Fund 2.0% Voya Global Bond Fund 2.0% VY Goldman Sachs Bond Portfolio 2.0% Voya High Yield Bond Fund 1.0% Voya 529 Growth Option Voya Intermediate Bond Fund 18.0% Voya Multi-Manager International Equity Fund 14.0% Voya Large Cap Growth Portfolio 11.0% Voya Large Cap Value Fund 11.0% Voya Corporate Leaders 100 Fund 8.0% Voya U.S. Stock Index Portfolio 8.0% Voya Multi-Manager Emerging Markets Equity Fund 6.0% Voya MidCap Opportunities Fund 4.0% Voya Multi-Manager Mid Cap Value Fund 4.0% Voya Limited Maturity Bond Portfolio 3.0% VY Goldman Sachs Bond Portfolio 3.0% Voya Floating Rate Fund 2.0% Voya Global Bond Fund 2.0% Voya Global Real Estate Fund 2.0% Voya High Yield Bond Fund 2.0% Voya Small Company Fund 2.0% Voya 529 Moderate Growth Option Voya Intermediate Bond Fund 18.0% Voya Multi-Manager International Equity Fund 12.0% Voya Large Cap Growth Portfolio 11.25% Voya Large Cap Value Fund 11.25% Voya U.S. Stock Index Portfolio 7.5% Voya Corporate Leaders 100 Fund 7.0% VY Goldman Sachs Bond Portfolio 6.0% Voya Multi-Manager Emerging Markets Equity Fund 5.0% Voya MidCap Opportunities Fund 3.5% Voya Multi-Manager Mid Cap Value Fund 3.5% Voya Limited Maturity Bond Portfolio 3.0% 4 Voya Floating Rate Fund 2.0% Voya Global Bond Fund 2.0% Voya Global Real Estate Fund 2.0% Voya High Yield Bond Fund 2.0% Voya Small Company Fund 2.0% VY BlackRock Inflation Protected Bond Portfolio 2.0% Voya 529 Moderate Option Voya Intermediate Bond Fund 20.0% Voya Multi-Manager International Equity Fund 10.0% Voya Large Cap Growth Portfolio 9.25% Voya Large Cap Value Fund 9.25% VY Goldman Sachs Bond Portfolio 9.0% Voya U.S. Stock Index Portfolio 6.5% Voya Corporate Leaders 100 Fund 6.0% Voya Limited Maturity Bond Portfolio 5.0% Voya Multi-Manager Emerging Markets Equity Fund 4.0% VY BlackRock Inflation Protected Bond Portfolio 4.0% Voya Floating Rate Fund 3.0% Voya MidCap Opportunities Fund 3.0% Voya Multi-Manager Mid Cap Value Fund 3.0% Voya Global Bond Fund 2.0% Voya Global Real Estate Fund 2.0% Voya High Yield Bond Fund 2.0% Voya Small Company Fund 2.0% Voya 529 Moderate Conservative Option Voya Intermediate Bond Fund 22.0% VY Goldman Sachs Bond Portfolio 10.0% Voya Limited Maturity Bond Portfolio 9.0% Voya Multi-Manager International Equity Fund 8.0% Voya U.S. Stock Index Portfolio 6.5% Voya Large Cap Growth Portfolio 6.25% Voya Large Cap Value Fund 6.25% Voya Corporate Leaders 100 Fund 5.0% VY BlackRock Inflation Protected Bond Portfolio 5.0% Voya Multi-Manager Emerging Markets Equity Fund 4.0% Voya Floating Rate Fund 3.0% Voya Global Bond Fund 3.0% Voya High Yield Bond Fund 3.0% Voya MidCap Opportunities Fund 2.5% Voya Multi-Manager Mid Cap Value Fund 2.5% Voya Global Real Estate Fund 2.0% Voya Small Company Fund 2.0% Voya 529 Conservative Plus Option Voya Limited Maturity Bond Portfolio 21.0% Voya Intermediate Bond Fund 18.0% VY Goldman Sachs Bond Portfolio 10.0% Voya Multi-Manager International Equity Fund 7.0% Voya Large Cap Growth Portfolio 6.0% Voya Large Cap Value Fund 6.0% Voya U.S. Stock Index Portfolio 6.0% VY BlackRock Inflation Protected Bond Portfolio 5.0% Voya Global Bond Fund 4.0% Voya High Yield Bond Fund 4.0% Voya Corporate Leaders 100 Fund 3.0% Voya Floating Rate Fund 3.0% Voya Global Real Estate Fund 2.0% Voya Multi-Manager Emerging Markets Equity Fund 2.0% Voya MidCap Opportunities Fund 1.5% Voya Multi-Manager Mid Cap Value Fund 1.5%

Voya 529 Conservative Option Voya Limited Maturity Bond Portfolio 30.0% Voya Intermediate Bond Fund 17.0% VY Goldman Sachs Bond Portfolio 10.0% Voya U.S. Stock Index Portfolio 6.0% Voya Global Bond Fund 5.0% Voya Large Cap Growth Portfolio 5.0% Voya Large Cap Value Fund 5.0% VY BlackRock Inflation Protected Bond Portfolio 5.0% Voya High Yield Bond Fund 4.0% Voya Floating Rate Fund 4.0% Voya Multi-Manager International Equity Fund 4.0% Voya Corporate Leaders 100 Fund 3.0% Voya MidCap Opportunities Fund 1.0% Voya Multi-Manager Mid Cap Value Fund 1.0% Voya 529 Ultra Conservative Option Voya Limited Maturity Bond Portfolio 38.0% Voya Intermediate Bond Fund 18.0% VY Goldman Sachs Bond Portfolio 12.0% Voya U.S. Stock Index Portfolio 8.0% Voya Global Bond Fund 7.0% VY BlackRock Inflation Protected Bond Portfolio 7.0% Voya High Yield Bond Fund 4.0% Voya Floating Rate Fund 4.0% Voya Corporate Leaders 100 Fund 2.0% The following is added to the sub-section entitled Investment options Single Fund Options beginning on page 11: Voya Global Perspectives Option, through its investments in Voya Global Perspectives Portfolio, seeks total return. Changes to Fee structure - effective at the close of business on February 20, 2015: The table in the sub-section entitled Fee structure Estimated annual underlying fund expenses beginning on page 24 is deleted and replaced with the following: Investment Option Estimated Underlying Fund Expenses BlackRock Global Allocation Option 0.88% Columbia Dividend Opportunity Option 0.76% Columbia Limited Duration Option 0.62% Northern Small Cap Value Option 1.01% TIAA-CREF Balanced Option 0.09% TIAA-CREF Bond Index Option 0.12% TIAA-CREF Equity Index Option 0.07% TIAA-CREF International Equity Index Option 0.07% TIAA-CREF Principal Protection Option 0.00% TIAA-CREF Small Cap Blend Option 0.16% Voya 529 Aggressive Growth Option and Voya 529 Age 0-4 Option 0.74% Voya 529 Growth Plus Option and Voya 529 Age 5-8 Option 0.71% Voya 529 Growth Option and Voya 529 Age 9-10 Option 0.68% Voya 529 Moderate Growth Option and Voya 529 Age 11-12 Option 0.64% Voya 529 Moderate Option and Voya 529 Age 13-14 Option 0.62% Voya 529 Moderate Conservative Option and Voya 529 Age 15 Option 0.59% Voya 529 Conservative Plus Option and Voya 529 Age 16 Option 0.55% Voya 529 Conservative Option and Voya 529 Age 17 Option 0.48% Voya 529 Ultra Conservative Option and Voya 529 Age 18+ Option 0.41% Voya Corporate Leaders 100 Option 0.49% Voya Global Perspectives Option 0.83% Voya GNMA Income Option 0.66% Voya High Yield Bond Option 0.69% Voya Intermediate Bond Option 0.34% Voya Large Cap Growth Option 0.60% Voya Large Cap Value Option 0.81% Voya Mid Cap Opportunities Option 0.96% Voya Multi-Manager International Equity Option 0.98% Voya Small Cap Opportunities Option 1.16% VY Clarion Global Real Estate Option 0.97% VY Templeton Foreign Equity Option 0.92% The table in the sub-section entitled Fee structure Total estimated annual fees and expenses on page 25 is deleted and replaced with the following: 5

Investment Option No Class A Class AR Class C Class C1 Class W Class BlackRock Global Allocation Option % n/a 1.31% 2.06% 2.06% n/a 1.06% Columbia Dividend Opportunity Option % n/a 1.19% 1.94% 1.94% n/a 0.94% Columbia Limited Duration Option % n/a 1.05% 1.80% 1.80% n/a 0.80% Northern Small Cap Value Option % n/a 1.44% 2.19% 2.19% n/a 1.19% TIAA-CREF Balanced Option % n/a 0.52% 1.27% n/a 0.77% 0.27% TIAA-CREF Bond Index Option % n/a 0.55% 1.30% n/a 0.80% 0.30% TIAA-CREF Equity Index Option % n/a 0.50% 1.25% n/a 0.75% 0.25% TIAA-CREF International Equity Index Option % n/a 0.50% 1.25% n/a 0.75% 0.25% TIAA-CREF Principal Protection Option % 0.23% n/a n/a n/a n/a n/a TIAA-CREF Small Cap Blend Option % n/a 0.59% 1.34% n/a 0.84% 0.34% Voya 529 Aggressive Growth Option and Voya 529 Age 0-4 Option % n/a 1.17% 1.92% 1.92% n/a 0.92% Voya 529 Growth Plus Option and Voya 529 Age 5-8 Option % n/a 1.14% 1.89% 1.89% n/a 0.89% Voya 529 Growth Option and Voya 529 Age 9-10 Option % n/a 1.11% 1.86% 1.86% n/a 0.86% Voya 529 Moderate Growth Option and Voya 529 Age 11-12 % n/a 1.07% 1.82% 1.82% n/a 0.82% Option Voya 529 Moderate Option and Voya 529 Age 13-14 Option % n/a 1.05% 1.80% 1.80% n/a 0.80% Voya 529 Moderate Conservative Option and Voya 529 Age 15 % n/a 1.02% 1.77% 1.77% n/a 0.77% Option Voya 529 Conservative Plus Option and Voya 529 Age 16 Option % n/a 0.98% 1.73% 1.73% n/a 0.73% Voya 529 Conservative Option and Voya 529 Age 17 Option % n/a 0.91% 1.66% 1.66% n/a 0.66% Voya 529 Ultra Conservative Option and Voya 529 Age 18+ Option % n/a 0.84% 1.59% 1.59% n/a 0.59% Voya Corporate Leaders 100 Option % n/a 0.92% 1.67% 1.67% n/a 0.67% Voya Global Perspectives Option % n/a 1.26% 2.01% 2.01% n/a 1.01% Voya GNMA Income Option % n/a 1.09% 1.84% 1.84% n/a 0.84% Voya High Yield Bond Option % n/a 1.12% 1.87% 1.87% n/a 0.87% Voya Intermediate Bond Option % n/a 0.77% 1.52% 1.52% n/a 0.52% Voya Large Cap Growth Option % n/a 1.03% 1.78% 1.78% n/a 0.78% Voya Large Cap Value Option % n/a 1.24% 1.99% 1.99% n/a 0.99% Voya Mid Cap Opportunities Option % n/a 1.39% 2.14% 2.14% n/a 1.14% Voya Multi-Manager International Equity Option % n/a 1.41% 2.16% 2.16% n/a 1.16% Voya Small Cap Opportunities Option % n/a 1.59% 2.34% 2.34% n/a 1.34% VY Clarion Global Real Estate Option % n/a 1.40% 2.15% 2.15% n/a 1.15% VY Templeton Foreign Equity Option % n/a 1.35% 2.10% 2.10% n/a 1.10% The table in the sub-section entitled Fee structure Examples of investment costs beginning on page 29 is deleted and replaced with the following: Investment Option Class Number of Years You Own Your Shares 1 Yr 3 Yrs 5 Yrs 10 Yrs A (Sold or Held) $ 627 944 1,280 2,211 AR (Sold) $ 334 562 910 1,876 BlackRock Global Allocation Option AR (Held) $ 234 562 910 1,876 C (Sold) $ 334 718 1,227 2,250 C (Held) $ 234 718 1,227 2,250 W (Sold or Held) $ 133 411 706 1,529 A (Sold or Held) $ 615 909 1,219 2,083 AR (Sold) $ 322 525 847 1,743 Columbia Dividend Opportunity Option AR (Held) $ 222 525 847 1,743 C (Sold) $ 322 682 1,166 2,121 C (Held) $ 222 682 1,166 2,121 W (Sold or Held) $ 121 373 642 1,391 A (Sold or Held) $ 602 867 1,148 1,932 AR (Sold) $ 308 482 773 1,585 Columbia Limited Duration Fund Option AR (Held) $ 208 482 773 1,585 C (Sold) $ 308 639 1,094 1,970 C (Held) $ 208 639 1,094 1,970 W (Sold or Held) $ 107 330 567 1,229 A (Sold or Held) $ 639 982 1,345 2,347 Northern Small Cap Value Option AR (Sold) $ 347 602 978 2,018 AR (Held) $ 247 602 978 2,018 6

Investment Option Class Number of Years You Own Your Shares 1 Yr 3 Yrs 5 Yrs 10 Yrs C (Sold) $ 347 758 1,292 2,387 C (Held) $ 247 758 1,292 2,387 W (Sold or Held) $ 146 451 775 1,677 A (Sold or Held) $ 551 708 875 1,339 AR (Sold) $ 254 316 488 967 TIAA-CREF Balanced Option AR (Held) $ 154 316 488 967 C1 (Sold) $ 154 320 550 1,193 C1 (Held) $ 104 320 550 1,193 W (Sold or Held) $ 53 162 276 589 A (Sold or Held) $ 553 717 891 1,374 AR (Sold) $ 257 326 505 1,003 TIAA-CREF Bond Index Option AR (Held) $ 157 326 505 1,003 C1 (Sold) $ 157 330 567 1,229 C1 (Held) $ 107 330 567 1,229 W (Sold or Held) $ 56 171 293 627 A (Sold or Held) $ 549 702 865 1,316 AR (Sold) $ 252 310 478 943 TIAA-CREF Equity Index Option AR (Held) $ 152 310 478 943 C1 (Sold) $ 152 314 539 1,170 C1 (Held) $ 102 314 539 1,170 W (Sold or Held) $ 51 155 265 565 A (Sold or Held) $ 549 702 865 1,316 AR (Sold) $ 252 310 478 943 TIAA-CREF International Equity Index Option AR (Held) $ 152 310 478 943 C1 (Sold) $ 152 314 539 1,170 C1 (Held) $ 102 314 539 1,170 W (Sold or Held) $ 51 155 265 565 TIAA-CREF Principal Protection Option n/a $ 49 149 254 540 A (Sold or Held) $ 557 729 912 1,419 AR (Sold) $ 261 338 526 1,051 TIAA-CREF Small Cap Blend Index Option AR (Held) $ 161 338 526 1,051 C1 (Sold) $ 161 342 588 1,275 C1 (Held) $ 111 342 588 1,275 W (Sold or Held) $ 60 184 315 676 Voya 529 Aggressive Growth Option and Voya 529 Age 0-4 Option Voya 529 Growth Plus Option and Voya 529 Age 5-8 Option Voya 529 Growth Option and Voya 529 Age 9-10 Option Voya 529 Moderate Growth Option and Voya 529 Age 11-12 Option A (Sold or Held) $ 613 903 1,209 2,062 AR (Sold) $ 320 519 837 1,720 AR (Held) $ 220 519 837 1,720 C (Sold) $ 320 676 1,155 2,100 C (Held) $ 220 676 1,155 2,100 W (Sold or Held) $ 119 367 631 1,368 A (Sold or Held) $ 611 894 1,194 2,029 AR (Sold) $ 317 510 821 1,687 AR (Held) $ 217 510 821 1,687 C (Sold) $ 317 667 1,140 2,067 C (Held) $ 217 667 1,140 2,067 W (Sold or Held) $ 116 358 615 1,334 A (Sold or Held) $ 608 885 1,179 1,997 AR (Sold) $ 314 501 805 1,653 AR (Held) $ 214 501 805 1,653 C (Sold) $ 314 658 1,125 2,035 C (Held) $ 214 658 1,125 2,035 W (Sold or Held) $ 113 348 599 1,299 A (Sold or Held) $ 604 873 1,159 1,954 AR (Sold) $ 310 488 784 1,608 AR (Held) $ 210 488 784 1,608 C (Sold) $ 310 645 1,104 1,992 C (Held) $ 210 645 1,104 1,992 W (Sold or Held) $ 109 336 577 1,252 Voya 529 Moderate Option and A (Sold or Held) $ 602 867 1,148 1,932 7

Investment Option Class Number of Years You Own Your Shares 1 Yr 3 Yrs 5 Yrs 10 Yrs Voya 529 Age 13-14 Option AR (Sold) $ 308 482 773 1,585 AR (Held) $ 208 482 773 1,585 C (Sold) $ 308 639 1,094 1,970 C (Held) $ 208 639 1,094 1,970 W (Sold or Held) $ 107 330 567 1,229 Voya 529 Moderate Conservative Option and Voya 529 Age 15 Option Voya 529 Conservative Plus Option and Voya 529 Age 16 Option Voya 529 Conservative Option and Voya 529 Age 17 Option Voya 529 Ultra Conservative Option and Voya 529 Age 18+ Option Voya Corporate Leaders 100 Option Voya Global Perspectives Option Voya GNMA Income Option Voya High Yield Bond Option Voya Intermediate Bond Option A (Sold or Held) $ 599 858 1,133 1,899 AR (Sold) $ 305 473 757 1,551 AR (Held) $ 205 473 757 1,551 C (Sold) $ 305 630 1,079 1,937 C (Held) $ 205 630 1,079 1,937 W (Sold or Held) $ 104 320 550 1,193 A (Sold or Held) $ 595 846 1,113 1,856 AR (Sold) $ 301 460 736 1,505 AR (Held) $ 201 460 736 1,505 C (Sold) $ 301 618 1,058 1,893 C (Held) $ 201 618 1,058 1,893 W (Sold or Held) $ 99 308 529 1,146 A (Sold or Held) $ 588 825 1,077 1,779 AR (Sold) $ 294 438 699 1,425 AR (Held) $ 194 438 699 1,425 C (Sold) $ 294 597 1,022 1,816 C (Held) $ 194 597 1,022 1,816 W (Sold or Held) $ 92 285 491 1,063 A (Sold or Held) $ 582 804 1,041 1,701 AR (Sold) $ 287 417 661 1,344 AR (Held) $ 187 417 661 1,344 C (Sold) $ 287 575 985 1,738 C (Held) $ 187 575 985 1,738 W (Sold or Held) $ 85 263 452 980 A (Sold or Held) $ 589 828 1,082 1,790 AR (Sold) $ 295 442 704 1,437 AR (Held) $ 195 442 704 1,437 C (Sold) $ 295 600 1,027 1,827 C (Held) $ 195 600 1,027 1,827 W (Sold or Held) $ 93 289 496 1,075 A (Sold or Held) $ 622 929 1,255 2,158 AR (Sold) $ 329 547 884 1,821 AR (Held) $ 229 547 884 1,821 C (Sold) $ 329 703 1,201 2,196 C (Held) $ 229 703 1,201 2,196 A (Sold or Held) $ 606 879 1,169 1,975 AR (Sold) $ 312 494 794 1,630 AR (Held) $ 212 494 794 1,630 C (Sold) $ 312 652 1,115 2,013 C (Held) $ 212 652 1,115 2,013 W (Sold or Held) $ 111 342 588 1,275 A (Sold or Held) $ 609 888 1,184 2,008 AR (Sold) $ 315 504 810 1,664 AR (Held) $ 215 504 810 1,664 C (Sold) $ 315 661 1,130 2,046 C (Held) $ 215 661 1,130 2,046 W (Sold or Held) $ 114 352 604 1,310 A (Sold or Held) $ 575 783 1,005 1,623 AR (Sold) $ 279 395 624 1,263 AR (Held) $ 179 395 624 1,263 C (Sold) $ 279 554 949 1,660 C (Held) $ 179 554 949 1,660 W (Sold or Held) $ 78 241 414 895 Voya Large Cap Growth Option A (Sold or Held) $ 600 861 1,138 1,910 8

Investment Option Class Number of Years You Own Your Shares 1 Yr 3 Yrs 5 Yrs 10 Yrs AR (Sold) $ 306 476 763 1,562 AR (Held) $ 206 476 763 1,562 C (Sold) $ 306 633 1,084 1,948 C (Held) $ 206 633 1,084 1,948 W (Sold or Held) $ 105 323 556 1,205 A (Sold or Held) $ 620 923 1,245 2,136 AR (Sold) $ 327 541 873 1,798 Voya Large Cap Value Option AR (Held) $ 227 541 873 1,798 C (Sold) $ 327 697 1,191 2,175 C (Held) $ 227 697 1,191 2,175 W (Sold or Held) $ 126 389 669 1,449 A (Sold or Held) $ 635 968 1,320 2,295 AR (Sold) $ 342 587 952 1,964 Voya Mid Cap Opportunities Option AR (Held) $ 242 587 952 1,964 C (Sold) $ 342 743 1,267 2,334 C (Held) $ 242 743 1,267 2,334 W (Sold or Held) $ 141 436 749 1,620 A (Sold or Held) $ 637 973 1,330 2,316 AR (Sold) $ 344 593 962 1,986 Voya Multi-Manager International Equity Option AR (Held) $ 244 593 962 1,986 C (Sold) $ 344 749 1,277 2,355 C (Held) $ 244 749 1,277 2,355 W (Sold or Held) $ 143 442 760 1,643 A (Sold or Held) $ 654 1,026 1,419 2,503 AR (Sold) $ 362 648 1,056 2,180 Voya Small Cap Opportunities Option AR (Held) $ 262 648 1,056 2,180 C (Sold) $ 362 803 1,368 2,542 C (Held) $ 262 803 1,368 2,542 W (Sold or Held) $ 161 498 855 1,844 A (Sold or Held) $ 636 970 1,325 2,305 AR (Sold) $ 343 590 957 1,975 VY Clarion Global Real Estate Option AR (Held) $ 243 590 957 1,975 C (Sold) $ 343 746 1,272 2,345 C (Held) $ 243 746 1,272 2,345 W (Sold or Held) $ 142 439 754 1,631 A (Sold or Held) $ 631 956 1,300 2,253 AR (Sold) $ 338 574 931 1,920 VY Templeton Foreign Equity Option AR (Held) $ 238 574 931 1,920 C (Sold) $ 338 730 1,247 2,292 C (Held) $ 238 730 1,247 2,292 W (Sold or Held) $ 137 423 728 1,575 Changes to Underlying funds details: Effective at the close of business on February 20, 2015, the following sub-sections are added to the section entitled Underlying funds details beginning on page 35: VY Goldman Sachs Bond Portfolio Sub-Adviser: Goldman Sachs Asset Management, L.P. Investment Objective: Total return consisting of capital appreciation and income. Main Investments: The portfolio invests at least 80% of its net assets (plus borrowings for investment purposes) in bonds and other fixed-income securities. The other types of fixed-income securities in which the portfolio may invest include securities issued or guaranteed by the U.S. government, its agencies, instrumentalities or sponsored enterprises ( U.S. Government Securities ), corporate debt securities, collateralized loan obligations, privately issued adjustable-rate and fixed-rate mortgage loans or other mortgage-related securities ( Mortgage-Backed Securities ), 9

asset-backed securities and high-yield non-investment grade securities (i.e. junk bonds ) (securities rated BB+, Ba1 or below by a nationally recognized statistical rating organization ( NRSRO ) or, if unrated, determined by the subadviser ( Sub-Adviser ) to be of comparable credit quality). The portfolio may purchase or sell Mortgage-Backed Securities on a delayed delivery or forward commitment basis through the to be announced ( TBA ) market. With TBA transactions, the particular securities to be delivered are not identified at the trade date but the delivered securities must meet specified terms and standards. The portfolio may also invest in custodial receipts, fixed-income securities issued by or on behalf of states, territories, and possessions of the United States (including the District of Columbia) ( Municipal Securities ) and convertible securities. The portfolio may also invest in derivatives, including forward foreign currency transactions, futures, options, and swaps involving securities, securities indices and interest rates, which may be denominated in the U.S. dollar or foreign currencies. The portfolio typically uses derivatives to reduce exposure to other risks, such as interest rate or currency risk, to substitute for taking a position in the underlying asset, and/or to enhance returns in the portfolio. The portfolio may invest in obligations of domestic and foreign issuers which are denominated in currencies other than the U.S. dollar. The portfolio may invest up to 15% of its total assets (not including securities lending collateral and any investment of that collateral) measured at the time of purchase in sovereign and corporate debt securities and other instruments of issuers in emerging market countries ( emerging countries debt ). The portfolio may also purchase securities of issuers in default. The portfolio s investments in non-investment grade securities (i.e., junk bonds ) will not exceed 25% of its total assets at the time of purchase. Otherwise, the portfolio invests in fixed-income securities rated at least BBB- or Baa3 at the time of purchase. Securities will either be rated by an NRSRO or, if unrated, determined by the Sub-Adviser to be of comparable credit quality. The portfolio assigns a security, at the time of purchase, the highest rating by an NRSRO if the security is rated by more than one NRSRO. The portfolio may also invest in other investment companies, including exchange-traded funds, to the extent permitted under the Investment Company Act of 1940, as amended, and the rules, regulations, and exemptive orders thereunder. The portfolio may lend portfolio securities on a short-term or long-term basis, up to 33 1/3% of its total assets. Main Risks: Call, convertible securities, credit, currency, derivative instruments, foreign investments/developing and emerging markets, high-yield securities, interest in loans, interest rate, liquidity, mortgage- and/or asset-backed securities, municipal obligations, other investment companies, prepayment and extension, securities lending, U.S. government securities and obligations, and when issued and delayed delivery securities and forward commitments. Voya Global Perspectives Portfolio Sub-Adviser: Voya Investment Management Co. LLC Investment Objective: Total return. Main Investments: The portfolio invests in a combination of Underlying Funds that, in turn, invest directly in securities (such as stocks and bonds). The Underlying Funds will invest in the securities of issuers in a number of different countries one of which may be the United States. Under normal market conditions, approximately 60% of the portfolio s net assets will be allocated to Underlying Funds that predominantly invest in equity securities, and approximately 40% of the portfolio s net assets will be allocated to Underlying Funds that predominantly invest in debt instruments, including U.S. government securities and money market instruments ( Target Allocation ). The percentage weight of the portfolio s assets invested in Underlying Funds that predominantly invest in equity securities may change to approximately 30% and the percentage weight of the portfolio s assets invested in Underlying Funds that predominantly invest in debt instruments may change to approximately 70% ( Defensive Allocation ) depending upon the rules based investment strategy described more fully in the portfolio s prospectus. The Target Allocation and Defensive Allocation are measured with reference to the primary investment strategies of the Underlying Funds; actual exposure to these asset classes may vary to the extent an Underlying Fund is not substantially invested in accordance with its primary investment strategies. The Underlying Funds provide exposure to a wide range of traditional asset classes which include stocks, bonds, and cash and non-traditional asset classes (also known as alternative strategies) which include real estate securities. The equity securities in which the Underlying Funds may invest include, but are not limited to: domestic and international stocks of companies of any market capitalization; emerging market securities; and domestic and international real estate stocks, including real estate investment trusts. The debt instruments in which the Underlying Funds may invest include, but are not limited to: domestic and international short-, intermediate- and long-term bonds; high-yield debt securities rated below investment-grade commonly referred to as junk bonds; and debt instruments without limitations on maturity. The 10

portfolio may also invest in other investment companies, including exchange-traded funds, to the extent permitted under the Investment Company Act of 1940, as amended, and the rules, regulations, and exemptive orders thereunder. Main Risks: Asset allocation, call, cash/cash equivalents, company, credit, currency, foreign investments/developing and emerging markets, high-yield securities, interest rate, investment model, liquidity, market, market capitalization, other investment companies, real estate companies and real estate investment trusts, and U.S. government securities and obligations. Effective at the close of business on January 30, 2015, the sub-section entitled Underlying funds details - Voya Large Cap Value Fund on page 42 was deleted and replaced with the following: Voya Large Cap Value Fund Sub-Adviser: Voya Investment Management Co. LLC Investment Objective: Long-term growth of capital and current income. Main Investments: The fund invests at least 80% of its net assets (plus borrowings for investment purposes) in equity securities of dividend paying, large-capitalization issuers. The sub-adviser defines large-capitalization companies that fall within the collective range of companies within the Russell 1000 Value Index at the time of purchase. Equity securities include common and preferred stocks, warrants, and convertible securities. The fund may invest in foreign securities, including companies located in countries with emerging securities markets. The fund may invest in real estate securities, including real estate investment trusts. The fund may also invest in other investment companies, including exchange-traded funds, to the extent permitted under the Investment Company Act of 1940, as amended, and the rules, regulations, and exemptive orders thereunder. The fund may lend portfolio securities on a short-term or long-term basis, up to 33 1/3% of its total assets. Main Risks: Company, convertible securities, credit, currency, dividend, foreign investments/developing and emerging markets, interest rate, investment model, liquidity, market, market capitalization, other investment companies, real estate companies and real estate investment trusts, securities lending, and value investing. Effective at the close of business on February 20, 2015, the following sub-sections are added to the section entitled Underlying funds risks beginning on page 47: Asset Allocation. There is a risk that the fund/portfolio may allocate assets to a fund or asset class that underperforms other funds or asset classes. Cash/Cash Equivalents. To the extent a fund/portfolio holds cash or cash equivalents, the fund/portfolio risks achieving lower returns and potential lost opportunities to participate in market appreciation which could negatively impact the fund s/portfolio s performance and ability to achieve its investment objective. Effective at the close of business on February 20, 2015, the sub-section entitled Underlying funds risks Investment Model on page 52 is deleted and replaced with the following: Investment Model. For funds/portfolios that invest based on a proprietary model managed by the manager, the manager's proprietary model may not adequately address existing or unforeseen market factors or the interplay between such factors. Certain funds/portfolios that are actively managed, in whole or in part, according to a quantitative investment model can perform differently from the market as a whole based on the investment model and the factors used in the analysis, the weight placed on each factor, changes from the factors historical trends, and technical issues in the construction and implementation of the investment models (including, for example, data problems and/or software issues). There is no guarantee that the use of these investment models will result in effective investment decisions for a fund/portfolio. 11

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Tomorrow s Scholar 529 Plan Supplement No. 4 dated June 30, 2015 To the Tomorrow s Scholar 529 Plan Program Description and Participation Agreement dated May 1, 2014 This Supplement amends the Tomorrow s Scholar 529 Plan Program Description and Participation Agreement, dated May 1, 2014, (the Program Description ). You should review this information carefully and keep it with your current copy of the Program Description. Capitalized terms not defined herein have the meanings set forth in the Program Description. Effective immediately, the section entitled Investment performance beginning on page 12 of the Program Description is deleted and replaced with the following: Investment performance and reporting The table below shows the average annual total returns after deducting ongoing fees for each Option as of March 31, 2015. The performance data reflects past performance with and without any applicable sales or redemption charges, but does not reflect the $25 annual maintenance fee, which is waived in certain circumstances. If these amounts were reflected, returns would be less than those shown. For comparison purposes, the table also shows the returns for a benchmark index that, as of the date of this Program Description, applies to each Option. The indices are not available for investment and the returns for the indices do not reflect sales charges, fees, brokerage commissions, taxes, or other expenses of investing. To obtain up-to-date performance information for any Option, please visit the Advisor Program s website at www.tomorrowsscholar.com or contact your financial advisor. Past performance is not a guarantee of future results. Because Voya Global Perspectives Option and Voya Intermediate Bond Option did not have a full year of operations as of March 31, 2015, no performance information for Voya Global Perspectives Option and Voya Intermediate Bond Option is provided below. Average Annual Total Returns (%) as of March 31, 2015 1,2 Without Sales Charges With Sales Charges Option/Index Class 1 Yr 3 Yrs 5 Yrs 10 Yrs Since Inception 1 Yr 3 Yrs 5 Yrs 10 Yrs Since Inception Inception Date Voya 529 Age 0-4 Option A 7.75 N/A N/A N/A 13.59 2.64 N/A N/A N/A 11.33 10/26/2012 AR 6.87 N/A N/A N/A 12.73 5.87 N/A N/A N/A 12.73 10/26/2012 C 6.87 N/A N/A N/A 12.69 5.87 N/A N/A N/A 12.69 10/26/2012 W 7.95 N/A N/A N/A 13.87 7.95 N/A N/A N/A 13.87 10/26/2012 Voya 529 Aggressive Growth Composite 8.47 N/A N/A N/A 14.83 8.47 N/A N/A N/A 14.83 Index Voya 529 Age 5-8 Option A 7.65 N/A N/A N/A 13.18 2.50 N/A N/A N/A 10.93 10/26/2012 AR 6.84 N/A N/A N/A 12.38 5.84 N/A N/A N/A 12.38 10/26/2012 C 6.84 N/A N/A N/A 12.35 5.84 N/A N/A N/A 12.35 10/26/2012 W 7.94 N/A N/A N/A 13.45 7.94 N/A N/A N/A 13.45 10/26/2012 Voya 529 Growth Plus Composite Index 8.36 N/A N/A N/A 14.35 8.36 N/A N/A N/A 14.35 Voya 529 Age 9-10 Option A 6.86 N/A N/A N/A 11.15 1.81 N/A N/A N/A 8.94 10/26/2012 AR 6.10 N/A N/A N/A 10.34 5.10 N/A N/A N/A 10.34 10/26/2012 C 6.10 N/A N/A N/A 10.34 5.10 N/A N/A N/A 10.34 10/26/2012 W 7.17 N/A N/A N/A 11.44 7.17 N/A N/A N/A 11.44 10/26/2012 Voya 529 Growth Composite Index 7.57 N/A N/A N/A 12.06 7.57 N/A N/A N/A 12.06 Voya 529 Age 11-12 Option A 6.94 N/A N/A N/A 10.66 1.83 N/A N/A N/A 8.46 10/26/2012 AR 6.17 N/A N/A N/A 9.83 5.17 N/A N/A N/A 9.83 10/26/2012 C 6.17 N/A N/A N/A 9.83 5.17 N/A N/A N/A 9.83 10/26/2012 W 7.25 N/A N/A N/A 10.94 7.25 N/A N/A N/A 10.94 10/26/2012 Voya 529 Moderate Growth Composite 7.57 N/A N/A N/A 11.49 7.57 N/A N/A N/A 11.49 Index Voya 529 Age 13-14 Option A 6.43 N/A N/A N/A 9.29 1.39 N/A N/A N/A 7.12 10/26/2012 AR 5.64 N/A N/A N/A 8.45 4.64 N/A N/A N/A 8.45 10/26/2012 C 5.72 N/A N/A N/A 8.49 4.72 N/A N/A N/A 8.49 10/26/2012 W 6.75 N/A N/A N/A 9.58 6.75 N/A N/A N/A 9.58 10/26/2012 Voya 529 Moderate Composite Index 7.09 N/A N/A N/A 10.01 7.09 N/A N/A N/A 10.01 SUP-WI529062015 1