Assets under Utah Educational Savings Plan Management Reach $12 Billion

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January 8, 2018

Assets under Utah Educational Savings Plan Management Reach $12 Billion

(Salt Lake City) The Utah Educational Savings Plan (UESP) announced today that assets under its management passed $12 billion, 20 percent higher from the start of 2017 when assets topped $10 billion.

The increase, along with steady growth in accounts, underscores the value families across the United States derive from saving with UESP for their children’s future higher education. Utah’s plan administers almost 355,000 accounts, up 7 percent from a year earlier. UESP is the fourth-largest direct-sold 529 plan in the nation.

“Assets under management are a key indicator of consumer confidence,” said Lynne Ward, UESP executive director. “Families in every state of the country are drawn to UESP’s tax-advantaged 529 plan because of its flexible investment options and fees that are among the lowest in the 529 marketplace.”

Investment research firm Morningstar Inc. awarded UESP its coveted Analyst RatingTM of Gold for 2017. UESP was one of only four plans to earn a Gold rating for its catalog of fixed and customizable investment options, low fees, and plan management. It was the seventh consecutive year UESP earned Morningstar’s top honor.

A UESP account provides valuable tax benefits that make saving for higher education easier:

  • Earnings accumulate inside the account tax-free.
  • Earnings used to pay for qualified higher education expenses are exempt from federal and Utah state income taxes.
  • Utah taxpayers may qualify for a Utah state income tax credit or deduction for contributions to their accounts up to a certain amount per beneficiary.

About UESP

UESP, Utah’s official nonprofit 529 college savings plan, is highly ranked by Morningstar Inc., and touted by Kiplinger’s Personal Finance magazine, Money magazine, CBS MoneyWatch.com, and consumer expert Clark Howard for its low fees and industry innovations such as its customized investment allocation options.

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

To learn more about the Utah Educational Savings Plan, visit beta.my529.org, call UESP toll-free at 800.418.2551, or send an email to info@beta.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. Call 800.418.2551 for a copy of the Program Description or visit beta.my529.org.

Investments in UESP are not insured or guaranteed by UESP, 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 pays taxes or lives 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 UESP. You should consider such benefits, if any, before investing in UESP.

UESP 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.