![]() ![]() We upgraded the rating for California's ScholarShare College Savings Plan to Gold in 2019, as its board voted to move to its age-based portfolios to a progressive glide path in February 2020. These plans stand out for their low costs, strong stewardship, and exceptional investment options. The Valedictorians Four plans merit Gold ratings. Residents of a state with a Neutral-rated plan should study any tax incentives they receive from their state before deciding to look further afield, though participants are not required to invest in their state’s plan. While not recommended for out-of-state investors, some of these plans may make the grade for in-state residents because of potential added benefits, such as state income tax breaks, which don’t factor into our ratings. Twenty-seven plans earned Neutral ratings. Negative-rated plans have at least one flaw that makes them worth avoiding for most college savers, such as an unstable investment team or high fees. Gold-rated plans exemplify most or all of these attributes, while Silver- and Bronze-rated plans embody some of these qualities but have room for improvement.įive plans didn’t score so well on our report card, receiving Negative ratings this year. These features increase the likelihood that a plan will remain a strong pick for college savers. These plans generally follow industry best practices, offering a combination of the following attractive features: a well-researched asset-allocation approach, a robust process for selecting underlying investments, an appropriate set of options to meet investor needs, strong oversight from the state and investment manager, and low fees. College savers invested in a medalist-rated plan have made a fine choice. ![]() Morningstar identified 30 best-in-class plans, assigning these programs Morningstar Analyst Ratings of Gold, Silver, or Bronze. Our analysts upgraded nine plans and downgraded eight. In October 2019, Morningstar assigned analyst ratings to 62 plans, which represent more than 97% of assets invested in 529 plans. Each year, we rate plans across five key pillars: Process, People, Parent, Price, and Performance. Morningstar Analyst Ratings for college savings plans are back in session. Read our evaluation of the top 529 college savings plan of 2020. Fortune and Fortune Media IP Limited are not affiliated with, and do not endorse products or services of, USAA.Editor’s note: We have published new research and enhanced our methodology. Fortune® is a registered trademark and World's Most Admired Companies™ is a trademark of Fortune Media IP Limited and is used under license. Fortune and Fortune Media IP Limited are not affiliated with, and do not endorse products or services of, USAA.įrom Fortune. Fortune® and Fortune 500® are registered trademarks of Fortune Media IP Limited and are used under license. © 2022 Fortune Media IP Limited All rights reserved. Membership eligibility and product restrictions apply and are subject to change.įrom FORTUNE. ![]() Credit cards issued by USAA Savings Bank, other bank products by USAA Federal Savings Bank, both Member FDIC. USAA means United Services Automobile Association and its insurance, banking, and other companies (opens in new window). If you need a reasonable accommodation, please email or call 1-800-210-USAA and select option 3 for assistance. USAA provides equal opportunity to qualified individuals with disabilities and disabled veterans. Furthermore, USAA makes hiring decisions compliant with the Fair Chance Initiative for Hiring Ordinance (LAMC 189.00). USAA’s Affirmative Action and EEO statement, please click here. Know Your Rights as an applicant, click here for English / Spanish, and Pay Transparency Nondiscrimination Provision click here. USAA is an equal opportunity and affirmative action employer and gives consideration for employment to qualified applicants without regard to race, color, religion, sex, national origin, disability, sexual orientation, gender identity, veteran status or any other legally protected characteristic. ![]()
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