Edvest 529 Awarded Silver Rating from Morningstar

published November 3, 2022

Madison, Wis. — Wisconsin’s Edvest 529 College Savings Plan announced today that the plan has earned a coveted rating by Morningstar, an independent investment research and management firm. The independent analysts at Morningstar carefully reviewed the merits of over 54 529 plans and has awarded Edvest 529 a Silver Morningstar Analyst Rating.

According to the analyst report, “Edvest 529 is an excellent choice for Wisconsinites and nonresidents, offering a well-designed target enrollment series at an attractive price. The plan is now one of the cheapest 529 savings plans after recent fee cuts, and its Morningstar Analyst Rating has been upgraded to Silver.”¹

Morningstar Medalist plans feature investment options analysts believe will outperform and exhibit some combination of the following attractive features:

• A well-researched asset-allocation approach
• A robust process for selecting underlying investments
• A well-resourced and experienced investment team
• Strong, stable, and engaged oversight from the state
• Low fees

“This prestigious recognition reflects our more than 25-year commitment to helping the people of Wisconsin achieve their higher education goals,” said Wisconsin Department of Financial Institutions Secretary-designee Cheryll Olson-Collins. “For eight consecutive years, Edvest 529 has been awarded a best-in-class Bronze rating. Edvest 529 was one of only six 529 college savings plans earning an upgraded analyst rating in this year’s ratings. Today’s rating upgrade to Silver validates Edvest 529 is among the top plans in the country.”

The Morningstar Silver rating comes on the heels of other third-party accolades from industry leading sources. On April 20, 2022, SavingforCollege.com released new 529 plan ratings where Edvest 529 earned the highest rating, 5-Cap, in both the non-resident and resident rating categories. According to SavingforCollege.com, 529 plans earning a 5-Cap rating “offer outstanding flexibility, attractive investments, and additional economic benefits (such as generous state tax incentives) that for some people, at least, will provide a substantial boost to their savings. There are few, if any, weaknesses noted in the program.”²

About the Edvest 529 College Savings Plan

The Edvest 529 College Savings Plan, Wisconsin’s direct-sold 529 college savings plan, makes it easier for families to save for higher education expenses. It takes just $25 and 15 minutes to open an Edvest account and funds saved can be used at colleges, technical schools and graduate schools nationwide and many abroad. In addition to tuition, funds may be used for certain room and board expenses, books, supplies, or other qualified expenses.

Save smarter, not harder

In addition to low fees, Wisconsin families that save with Edvest 529 can potentially deduct up to $3,560 per beneficiary from their 2022 Wisconsin taxable income. This deduction applies to anyone who contributes to an account—parents, grandparents, aunts, uncles and friends—not just the account owner. Additionally, any earnings grow 100% free from federal and state taxes, which can mean more money for college. Limitations apply.^*

Variety of investment options and planning tools

Edvest 529 offers a variety of professionally managed investment portfolios to fit any life situation, risk tolerance and higher education savings goals. Check out our college savings planning calculator to estimate future cost of college and explore different scenarios to find an investment strategy and plan that works for you.

To open an Edvest 529 account or get more information about the Edvest 529 College Savings Plan, including live webinars with college savings specialists, visit edvest.com or call 1-888-338-3789.

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Footnotes

1. ¹In an annual review (11/2/2022) of the largest 529 college savings plans (54 plans representing 93% of 529 assets), Morningstar identified 34 plans that rose above their typical peers, awarding those plans Gold, Silver, and Bronze Morningstar Analyst Ratings for 2022. These plans offer investment options that Morningstar expects will collectively outperform and exhibit some combination of the following attractive features across four key pillars: a well-researched asset-allocation approach, a robust process for selecting underlying investments, a well-resourced and experienced investment team, strong, stable and engaged oversight from the state, and low fees. The four key pillars used by Morningstar to evaluate college savings plans include – Process, People, Parent, and Price. For more information about Morningstar’s overview of the Edvest College Savings Plan, go to Morningstar.com. 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. ²Saving For College’s 5-Cap Ratings provides an evaluation and comparison of 529 plans, utilizing a formula that examines dozens of factors grouped into the following categories: Performance, Costs, Features, Reliability, and Resident. Savingforcollege.com.↩
3. ^*To learn more about the 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. Investments in the Plan are neither insured nor guaranteed and there is the risk of investment loss. 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. Consult your legal or tax professional for tax advice. TIAA-CREF Individual & Institutional Services, LLC, Member FINRA, distributor and underwriter for the Wisconsin’s Edvest College Savings Plan. Neither TIAA-CREF Tuition Financing, Inc., nor its affiliates, are responsible for the content found on any external website links contained herein.↩

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