Legacy Class A shares

Initial sales charge

If you are a grandfathered shareholder, you can buy Legacy Class A shares of each of the Funds at the offering price, which is the net asset value per share plus a sales charge (commission). The applicable sales charge schedule can be found below. There is no initial sales charge for new investments in Legacy Class A shares of the Money Market Fund.

Grandfathered shareholders may purchase Legacy Class A and Legacy Class B shares whereas shareholders who are not grandfathered may purchase Class A or Class B shares.

You are a grandfathered shareholder if you satisfy one or more of the following criteria:

• Your account holding Legacy Class A or Legacy Class B shares was established before May 1, 2006.
  
  
• Your account holding Legacy Class A or Legacy Class B shares is established after April 30, 2006, as a result of the death or divorce of one or more individual shareholders who had a grandfathered account.
  
  
• Your account holding Legacy Class A or Legacy Class B shares is established after April 30, 2006, as a result of a conversion or re-characterization of a grandfathered IRA account.
  
  
• You are a trust that obtained Legacy Class A or Legacy Class B shares from another grandfathered account.

If your investment meets or exceeds certain amounts, or breakpoints, you will qualify for a reduced sales charge. The following programs are ways in which you can qualify for a reduced or waived sales charge:

• Combined Purchases
• Rights of Accumulation
• Special Waivers for Certain Categories of Investors
• Reinvestment Privilege
• Letter of Intent

Please read the prospectus for complete details on these programs. Also, feel free to visit your registered State Farm agent, or call a Securities Products Representative at 1-800-447-4930 for an explanation of these programs to help you determine if you qualify for a reduced or waived sales charge.

The sales charges, expressed as a percentage of the fund's offering price & net amount invested, for Legacy Class A shares are:

Initial Sales Charge - Legacy Class A Shares

*No sales charge is imposed at the time of purchase on amounts of $500,000 or more. However, for an investment of $500,000 or more in Legacy Class A shares of any Fund other than the Money Market Fund, a contingent deferred sales charge will be charged if shares are redeemed within 12 months following their purchase at the rate of 0.5% on the lesser of the value of the shares redeemed (exclusive of reinvested dividends and capital gains distributions) or the cost of such shares. Please read the prospectus for further details.

Distribution and service fees
Legacy Class A shares of each Fund are subject to a distribution fee, commonly known as a 12b-1 fee of up to 0.25% (0.15% for the Money Market Fund) per year of the Fund's average daily net assets. The distribution fee is payable to State Farm VP Management Corp. to reimburse it for services and expenses incurred in connection with the distribution of Fund shares. In addition, Legacy Class A shares of each Fund pay a shareholder servicing fee of up to 0.25% per year of the Fund's average daily net assets. Please read the prospectus for complete information on the Funds' fees and expenses.

An investment in a money market fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.  Although the fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the fund.

State Farm VP Management Corp Risk/Important Disclosures. State Farm Mutual Funds Prospectus. The State Farm College Savings Plan Enrollment Handbook (PDF 260 KB) .

Need Assistance? 1-800-447-4930

AP2007/12/9681