Edvest 529 Named Silver Plan by Morningstar…again!

published November 6, 2023

Madison, Wis. (November 6, 2023) — Wisconsin's Edvest 529 College Savings Plan has once again received a silver rating from Morningstar, an independent investment research and management firm.

The independent analysts at Morningstar carefully reviewed the merits of over fifty-four 529 plans and recognized Edvest with a silver Morningstar Analyst rating for the second year in a row.

According to the report, "Edvest 529 College Savings Plan is an excellent choice for Wisconsinites and nonresidents alike. The plan’s well-designed target-enrollment series comes at a bargain price and continues to earn a Morningstar Medalist rating of silver."

According to Morningstar, Edvest 529 exhibits some of the following attractive features:

• A well-designed target-enrollment series
• The plan’s target-enrollment series features a relatively smooth glide path that thoughtfully passes a reduction in equity exposure until college enrollment
• Continuously earns an above-average process rating
• Strong, stable, and engaged oversight from the state
• Low fees

"We are thrilled to be recognized by Morningstar for the second consecutive year as a Silver 529 plan," said Wisconsin Department of Financial Institutions Secretary-designee Cheryll Olson-Collins. "This rating continues to validate that Edvest 529 is among the top plans in the country for providing families with the financial tools they need to help make their loved one’s education dreams a reality," Olson-Collins added.

It takes just $25 and 15 minutes to open an Edvest 529 account and funds saved can be used at eligible colleges, technical schools, and graduate schools nationwide and many abroad, as well as toward the cost of registered apprenticeship programs. In addition to tuition, funds may be used for certain room and board expenses, books, supplies, and other qualified expenses.

For more information about Edvest 529 and how to open an account, visit Edvest.com or follow Edvest on Facebook and Instagram.

About Edvest 529
For more than 25 years, Edvest 529 – Wisconsin’s direct-sold 529 college savings plan – has been helping families save for higher education expenses. Account owners can choose from 24 investment portfolios, access easy-to-use savings tools, and take advantage of in-state tax benefits for Wisconsin taxpayers.

Edvest 529 is a tax-advantaged investment, meaning contributions to an account may qualify for a 2023 Wisconsin state income tax deduction of up to $3,860 per beneficiary, per year, for single filers or married couples filing a joint return. The plan has no sales charges, enrollment fees, or annual account maintenance fees. In fact, Edvest 529 is the fifth lowest-cost 529 college savings plan in the nation!¹

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Footnotes

1. In an annual review (11/2/2023) of the largest 529 college savings plans (54 plans representing 90% of 529 assets as of August 2023), Morningstar identified 34 plans that stand out above the rest, awarding those plans Gold, Silver, and Bronze Morningstar Analyst Ratings for 2023. These plans offer a well-researched asset-allocation approach, a robust process for selecting and monitoring underlying investments, a well-resourced and experienced investment team, stable and engaged oversight from the state and low fees. Investors in what Morningstar analysts consider the best 529 plans should be well-positioned for the future. The four key pillars used by Morningstar to evaluate 529 college savings plans include – Process, People, Parent, and Price. For more information about Morningstar’s overview of the Edvest 529 College Savings Plan, go to Morningstar.com. TIAA-CREF Tuition Financing, Inc. compensates Morningstar for the ability to quote these ratings in public communications. Past performance does not predict future results. Source: Morningstar.com. A Morningstar Analyst Rating for a 529 college savings plan is not a credit or risk rating. Analyst ratings are subjective in nature and should not be used as the sole basis for investment decisions.
2. To learn more about the Wisconsin's Edvest 529 College Savings Plan, its investment objectives, risks, charges and expenses see the Plan Description at Edvest.com. Read it carefully. 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. If the funds aren't used for qualified higher education expenses, a federal 10% penalty tax on earnings (as well as federal and state income taxes) may apply. Check with your home state to learn if it offers tax or other benefits such as financial aid, scholarship funds or protection from creditors for investing in its own 529 plan. TIAA-CREF Individual & Institutional Services, LLC, Member FINRA, distributor and underwriter for Wisconsin's Edvest 529 College Savings Plan.
3. ¹ISS Market Intelligence 529 College Savings Fee Analysis 3Q 2023. Edvest’s average annual asset-based fees are 0.15% for all portfolios compared to 0.51% for all 529 plans.↩
4. Withdrawals for registered apprenticeship programs can be withdrawn free from federal and Wisconsin income tax. If you are not a Wisconsin taxpayer, these withdrawals may include recapture of tax deduction, state income tax as well as penalties. You should talk to a qualified professional about how tax provisions affect your circumstances.
5. All social media platforms are managed by the State of Wisconsin.

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