{"id":139514,"date":"2025-01-09T14:31:27","date_gmt":"2025-01-09T19:31:27","guid":{"rendered":"https:\/\/www.thevalleyledger.com\/?p=139514"},"modified":"2025-01-09T14:31:27","modified_gmt":"2025-01-09T19:31:27","slug":"treasurer-stacy-garrity-announces-new-fee-cuts-for-pa-529-investment-plan-accounts","status":"publish","type":"post","link":"https:\/\/www.thevalleyledger.com\/?p=139514","title":{"rendered":"Treasurer Stacy Garrity Announces New Fee Cuts for PA 529 Investment Plan Accounts"},"content":{"rendered":"

Two new fee cuts make Morningstar Gold Rated PA 529 Investment Plan better than ever<\/em>\u00a0<\/strong><\/p>\n

Harrisburg, PA\u00a0<\/strong>\u2014 Pennsylvania Treasurer Stacy Garrity today announced two new fee cuts for the Morningstar Gold Rated PA 529 Investment Plan (IP) as a result of continued program account growth and asset milestones.<\/p>\n

\u201cOur PA 529 IP is already one of the best programs in the country, and these fee cuts make it even better,\u201d Treasurer Garrity said. \u201cI\u2019m thrilled that so many families are saving for their children\u2019s future education with PA 529, because that success is what made these new fee cuts possible. It\u2019s never too late to start saving, but an early start helps make future education and career goals a reality without a heavy debt. I encourage families across the state to learn more about our great PA 529 program and to start saving for their children and grandchildren.\u201d<\/p>\n

PA 529 IP account owners will see a 0.25 basis point fee reduction because PA 529 assets have surpassed $5.5 billion. An additional reduction of 0.50 basis points is the result of the combined assets of the PA 529 IP and the PA 529 Guaranteed Savings Plan (GSP) exceeding $8 billion.<\/p>\n

Combined with the multiple fee cuts implemented by Treasurer Garrity previously,\u00a0including one earlier this year<\/a>, these reductions will save PA 529 IP account owners nearly $17 million by the end of the current fiscal year.<\/p>\n

Treasurer Garrity negotiated the latest fee cuts in cooperation with Ascensus and Vanguard, Treasury\u2019s partners in administering the PA 529 program.<\/p>\n

More than 190,000 families have saved more than $5.6 billion with the PA 529 IP, which earned its second consecutive Morningstar Gold Rating\u00a0in October 2024<\/a>.\u00a0Morningstar recognized Treasurer Garrity\u2019s \u201cexceptional oversight and advocacy,\u201d and complimented Treasury for \u201capproach[ing] its responsibilities with rigor, bringing team members\u2019 investing, business and legal acumen to bear.\u201d<\/p>\n

Morningstar also praised Treasury for reducing fees and securing favorable contract terms with strong partners, along with Treasury\u2019s work to enhance outreach, accessibility, and participant research efforts.<\/p>\n

The\u00a0PA 529 IP<\/a>\u00a0allows families to choose from a variety of investment options, including\u00a0Target Enrollment Portfolios<\/a>\u00a0which adjust asset allocation and risk as a child reaches the anticipated age of enrollment in higher education.<\/p>\n

PA 529 College and Career Savings Program<\/a>\u00a0accounts are designed to help Pennsylvania families steadily and strategically save in a tax-advantaged way for a wide variety of qualifying technical, collegiate, apprenticeship and K-12 educational expenses. Money saved in PA 529 accounts does not affect eligibility for Pennsylvania state financial aid.<\/p>\n

To learn more about saving with PA 529, visit\u00a0pa529.com<\/a>\u00a0or call 800-440-4000.<\/p>\n

STACY GARRITY, STATE TREASURER<\/p>\n

www.patreasury.gov<\/a><\/p>\n

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

\u00a0<\/strong><\/p>\n

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

Two new fee cuts make Morningstar Gold Rated PA 529 Investment Plan better than ever\u00a0 Harrisburg, PA\u00a0\u2014 Pennsylvania Treasurer Stacy Garrity today announced two new fee cuts for the Morningstar … Continue reading Treasurer Stacy Garrity Announces New Fee Cuts for PA 529 Investment Plan Accounts<\/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-139514","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\/139514"}],"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=139514"}],"version-history":[{"count":0,"href":"https:\/\/www.thevalleyledger.com\/index.php?rest_route=\/wp\/v2\/posts\/139514\/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=139514"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thevalleyledger.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=139514"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thevalleyledger.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=139514"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}