my529 earns top industry rating for 15th consecutive year
Utah’s educational savings plan receives Gold rating for 2025
(Salt Lake City) my529, Utah’s 529 educational savings plan, has once again been named as one of the top 529 plans in the country, a distinction the plan has earned for 15 consecutive years. This is an accomplishment no other 529 plan can claim.
In its annual 529 industry report, released this year on November 10, Morningstar named my529 as one of only five plans to receive the sought-after Analyst Rating™ of Gold. Morningstar Research Services LLC, a leading provider of independent investment research, is a subsidiary of Morningstar Inc.
Read Morningstar’s 529 industry report.
Morningstar evaluated 59 plans for their underlying investment quality and selection process, investment team, asset allocation methodology and oversight. Gold-rated plans stand out from their peers for their thoughtful investment option construction, knowledgeable investment teams, plan oversight and low costs.
Analysts commended my529’s diversified, low-cost investment offerings, particularly the Target Enrollment Date investment options, where the glide path gradually moves from an aggressive to a more conservative allocation as the beneficiary ages. The report also highlighted my529’s Customized Age-Based portfolio, which allows investment-savvy account owners or their advisors to design an individualized approach from an array of underlying funds.
A separate, state-focused article emphasized my529’s robust Static menu, which features 10 portfolios across the risk spectrum and includes more conservative offerings in a stable value investment option and an FDIC-insured savings account. Additionally, the report mentioned the plan’s low fees, the capability and tenure of the investment team, and the expertise of my529’s board members, advisors and consultants.
Morningstar noted the recent change in my529 leadership — with former executive director Richard K. Ellis retiring in the spring — and praised the smooth transition. New executive director Mark M. Cain, formerly the deputy executive director of Utah Retirement Systems, took the helm in April 2025, and overlapped with Ellis beginning in February. Ellis’ experience and institutional knowledge will be preserved as he now sits on my529’s oversight board. Prior to his appointment as executive director, Cain served on the board for 18 months.
“It has been my honor to join an organization committed to excellence, with 2026 marking the plan’s 30th anniversary of helping families invest for their educational journeys,” Cain said. “We are pleased Morningstar consistently recognizes my529 for its efforts to deliver a high-quality, low-cost savings plan.”
With more than 612,000 accounts and $29.2 billion in assets under management, my529 is the third-largest direct-sold 529 plan by assets in the country. Data as of November 11, 2025.
A Morningstar Analyst RatingTM 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. Analyst ratings are based on Morningstar analysts’ current expectations about future events and therefore involve unknown risks and uncertainties that may cause Morningstar’s expectations not to occur or to differ significantly from what was expected. Morningstar does not represent its analyst ratings to be guarantees.
Please visit Morningstar.com for more information about the analyst ratings, as well as other Morningstar ratings and fund rankings.
