![]() For more information about Morningstar’s overview of Wisconsin's Edvest 529 College Savings Plan, go to. The four key pillars used by Morningstar to evaluate 529 college savings plans include – Process, People, Parent, and Price. ![]() These plans offer investment options that Morningstar expects will collectively outperform and exhibit some combination of the following attractive features: a well-researched asset-allocation approach, a robust process for selecting underlying investments, a well-resourced and experienced investment management team, strong, stable and engaged oversight from the state and low fees. In an annual review () of the largest 529 college savings plans (54 plans representing 93% of 529 assets), Morningstar identified 34 plans that rose above their typical peers, awarding those plans Gold, Silver, and Bronze Morningstar Analyst Ratings for 2022.The Edvest 529 College Savings Plan average annual asset-based fees are 0.16% for all portfolios compared to 0.51% for all 529 plans. 3Source: ISS Market Intelligence 529 College Savings Fee Analysis Q4 2022.2If the funds aren’t used for qualified higher education expenses, a 10% penalty tax on earnings (as well as federal and state income taxes) may apply.Wisconsin taxpayers can qualify for a 2023 state tax deduction up to $3,860 annually per beneficiary from contributions made into an Edvest 529 College Savings Plan (married couples filing separately and divorced parents may claim a maximum of $1,930). ![]()
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