Assets under management at my529 hit $14 billion mark

FOR IMMEDIATE RELEASE:

Contact: Bryn Ramjoue’, Marketing Director, 801.321.7161, bramjoue@my529.org

Printable PDF

 

July 8, 2019

Utah’s top-rated educational savings plan offers tax advantages to investors

(Salt Lake City) my529, Utah’s educational savings plan, announced today that its assets under management topped $14 billion, up nearly 8% since September 2018, when the plan’s assets passed $13 billion. my529 is the third-largest direct-sold 529 plan in the nation.

“Account owners in Utah and across the United States recognize the value of investing for education expenses with my529,” said Lynne Ward, my529 executive director. “The strength and flexibility of our investment options, along with our low fees and tax advantages, make the plan an attractive investment vehicle for families.”

Investment research firm Morningstar Inc. has awarded my529 its Analyst Rating™ of Gold for eight straight years through 2018. Utah’s plan was one of only four 529 plans nationwide in 2018 to earn Morningstar’s top honor last October for its robust investment options, low fees, and plan management.

A my529 account provides significant tax benefits to facilitate saving for higher education expenses.

  • Earnings accumulate tax-free
  • Money used to pay for qualified higher education expenses—such as tuition, fees, books, supplies, computers, and even certain room and board costs—are exempt from federal and Utah state income taxes
  • Funds can be used at any eligible educational institution in the United States or abroad that is qualified to participate in federal student aid programs, not just schools in Utah
  • Utah taxpayers may qualify for a Utah state income tax credit or deduction for account contributions, up to certain limits, per qualified beneficiary

About my529

my529, Utah’s official nonprofit 529 educational savings plan, is highly rated by Morningstar Inc.

Accounts are free to open, and my529 requires no minimum deposit or account balance. my529’s user-friendly website, my529.org, makes it easy to open, manage, and contribute to an account online.

To learn more, visit my529.org, call toll-free at 800.418.2551, or email info@my529.org.

 

Important Legal Notice

Investing is an important decision. Read the Program Description in its entirety for more information and consider all investment objectives, risks, charges, and expenses before investing. For a copy of the Program Description, call 800.418.2551 or visit my529.org.

Investments in my529 are not insured or guaranteed by my529, the Utah State Board of Regents, the Utah Higher Education Assistance Authority or any other state or federal agency. Your investment could lose value. However, Federal Deposit Insurance Corporation (FDIC) insurance is provided for the FDIC-insured accounts. Please read the Program Description to learn about the FDIC-insured accounts.

The state in which you or your beneficiary pay taxes or live may offer a 529 plan that provides state tax or other benefits, such as financial aid, scholarship funds, and protection from creditors, not otherwise available to you by investing in my529. You should consider such benefits, if any, before investing in my529.

my529 does not provide legal, financial, investment, or tax advice, and the information provided in this document does not contain legal, financial, investment, or tax advice and cannot be construed as such or relied upon for those purposes. You should consult your own tax or legal advisor to determine the effect of federal and state tax laws on your particular situation.

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. 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.