my529 earns top industry rating for 15th consecutive year
This fall, my529, Utah’s 529 educational savings plan, was once again named as one of the top 529 plans in the country, a distinction the plan has earned for 15 consecutive years. This accomplishment is unrivaled by any other 529 plan and reinforces my529’s longstanding status as one of the best in the industry — consider sharing the news with your 529 clients.
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.
Morningstar evaluated 59 plans for their underlying investment quality and selection process, investment team, asset allocation methodology, and oversight.
Analysts commended my529’s diversified, low-cost investment offerings, particularly the Target Enrollment Date investment options and the Customized Age-Based portfolio, where investment-savvy account owners or their advisors can 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.
View Morningstar’s 529 industry report. Advisors with a Morningstar login can access the state analysis.
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. 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.
From the FAN — December 2025
