{"id":132374,"date":"2024-07-03T19:53:49","date_gmt":"2024-07-03T23:53:49","guid":{"rendered":"https:\/\/www.thevalleyledger.com\/?p=132374"},"modified":"2024-07-03T19:53:49","modified_gmt":"2024-07-03T23:53:49","slug":"morningstar-reinforces-excellence-of-pa-529-investment-plan","status":"publish","type":"post","link":"https:\/\/www.thevalleyledger.com\/?p=132374","title":{"rendered":"Morningstar Reinforces Excellence of PA 529 Investment Plan"},"content":{"rendered":"

\u201cThe Pennsylvania Treasury Department\u2019s effective and steadfast advocacy on behalf of its investors puts the plan a notch above peers.\u201d<\/em>\u00a0<\/strong><\/p>\n

Harrisburg, PA<\/strong>\u00a0\u2013 Morningstar, a financial services company that rates 529 plans across the country,\u00a0recently reinforced<\/a>\u00a0the reasons it awarded the Pennsylvania Treasury Department\u2019s\u00a0PA 529 College and Career Savings Program Investment Plan<\/a>\u00a0(IP) its Gold Rating in November \u2013 making it one of only two plans in the nation to receive Morningstar\u2019s highest rating.<\/p>\n

In a recent article (\u201cMorningstar\u2019s Top-Ranked 529 Plans<\/a>\u201d), Morningstar praised Treasury\u2019s \u201caggressive negotiations for lower fees and additional fee breakpoints\u201d which \u201cled to a more positive investor experience.\u201d It also highlighted the department\u2019s \u201ceffective and steadfast advocacy on behalf of its investors [which] puts the plan a notch above peers.\u201d<\/p>\n

\u201cMy team and I are proud of the fact that we earned Morningstar\u2019s Gold Rating because it means that we\u2019re doing a great job for the hardworking Pennsylvania families who use the PA 529 IP to save for education,\u201d Treasurer Stacy Garrity said. \u201cOur focus is always on the people who are saving every dollar they can to give their children and grandchildren the education they want and deserve.\u00a0We will continue working day in and day out to give Pennsylvania families even more reasons to save for their child\u2019s bright future with PA 529.\u201d<\/p>\n

The PA 529 IP\u00a0allows families to choose from a variety of investment portfolios, including\u00a0target enrollment date options<\/a>, which automatically adjust asset allocations to become more conservative as a child reaches the anticipated date of enrollment in post-high school education.\u00a0PA 529 IP earnings are dependent upon financial market performance.<\/p>\n

Since taking office in 2021, Treasurer Garrity has overseen several changes to PA 529 plans, making them more accessible and affordable for Pennsylvania families, including eliminating the minimum deposit to open an account and reducing the minimum contribution to one dollar, on top of multiple fee reductions that have saved more than $11.5 million for families across the whole PA 529 program, which also includes the\u00a0PA 529 Guaranteed Savings Plan (GSP)<\/a>.<\/p>\n

There are nearly 301,000 combined PA 529 IP and GSP accounts with more than $7.7 billion in assets.<\/p>\n

The PA 529 College and Career Savings Program helps families steadily and strategically save for future educational expenses like tuition, fees, books, equipment, room and board and more at qualifying technical, collegiate and apprenticeship programs. PA 529 plans offer significant state and federal tax advantages and saving with PA 529 does not impact Pennsylvania state financial aid eligibility.<\/p>\n

To learn more about PA 529 accounts visit\u00a0pa529.com<\/a>, call 800-440-4000 or email\u00a0pa529@patreasury.gov<\/a>.<\/p>\n

 <\/p>\n

Information provided to TVL by:
\nSamantha Heckel<\/p>\n

 <\/p>\n

\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

\u201cThe Pennsylvania Treasury Department\u2019s effective and steadfast advocacy on behalf of its investors puts the plan a notch above peers.\u201d\u00a0 Harrisburg, PA\u00a0\u2013 Morningstar, a financial services company that rates 529 … Continue reading Morningstar Reinforces Excellence of PA 529 Investment Plan<\/span> →<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":120734,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false},"version":2}},"categories":[482],"tags":[],"class_list":["post-132374","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-press-release-2"],"jetpack_publicize_connections":[],"acf":[],"jetpack_featured_media_url":"https:\/\/www.thevalleyledger.com\/wp-content\/uploads\/2023\/07\/Pennsylvania-Treasury.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.thevalleyledger.com\/index.php?rest_route=\/wp\/v2\/posts\/132374"}],"collection":[{"href":"https:\/\/www.thevalleyledger.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.thevalleyledger.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.thevalleyledger.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thevalleyledger.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=132374"}],"version-history":[{"count":0,"href":"https:\/\/www.thevalleyledger.com\/index.php?rest_route=\/wp\/v2\/posts\/132374\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.thevalleyledger.com\/index.php?rest_route=\/wp\/v2\/media\/120734"}],"wp:attachment":[{"href":"https:\/\/www.thevalleyledger.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=132374"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thevalleyledger.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=132374"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thevalleyledger.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=132374"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}