News & Press Releases
Wisconsin Launches New College Savings Mobile App
MADISON, Wis. – Wisconsin families can now manage their children’s college education savings right from the palm of their hand. Today, the Wisconsin Department of Financial Institutions (DFI) announced the launch of READYSAVE 529™, a new education savings mobile app available to all Edvest account owners. The app provides a convenient way to access information, track progress and make contributions.
“We are continuously investing in tools and technology that make it easier for parents to plan, monitor and adjust their saving strategies,” said Kathy Blumenfeld, Cabinet Secretary, Wisconsin Department of Financial Institutions (DFI). “This new app provides easy and secure access to account information right from your smartphone or tablet.”
The READYSAVE 529 app allows users to view account balances and investment allocations, make one-time or recurring contributions, and see how their savings compare with peers. Users can also invite family and friends to gift to their child’s or grandchild’s Edvest account.
Edvest is Wisconsin’s direct-sold 529 College Savings Plan designed to help families save for higher education expenses. Account owners can choose from 25 investment portfolios, access easy-to-use savings tools and take advantage of in-state tax benefits for Wisconsin residents. Effective December 1, 2020, TIAA-CREF Tuition Financing, Inc. reduced its program management fee by .01% to .07% in recognition of Edvest’s plan assets reaching $4 billion. The plan has no sales charges, enrollment fees, or annual account maintenance fees, making it among the lowest cost 529 college savings plans in the nation. As of December 31, 2020 Edvest assets totaled $4.22 billion. This reduction in fees is expected to save Edvest College Savings Plan account owners more than $400,000 annually.
More information about Edvest is available at Edvest.com or 888-338-3789.
To learn more about Wisconsin’s Edvest College Savings Plan, its investment objectives, tax benefits, risks and costs, please see the Plan Description at Edvest.com. Read it carefully. 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. 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.
TIAA-CREF Individual & Institutional Services, LLC, Member FINRA, distributor and underwriter for Wisconsin’s Edvest College Savings Plan.