Treasurer Stacy Garrity: PA 529 Investment Plan Again Named Top-tier 529 Plan in the Country with 4th Straight Morningstar Gold Rating

Harrisburg, PA - Pennsylvania Treasurer Stacy Garrity announced today that the PA 529 College and Career Savings Program Investment Plan (IP) has maintained its status as a top-tier 529 plan in the nation after receiving its 4th consecutive Gold Rating from Morningstar.

"Treasury works tirelessly to give families the best experience possible when saving for their child's future education, and we're proud to continue receiving the highest rating on a national scale for our PA 529 IP. With this accolade from Morningstar, families can continue to invest with confidence to ensure they can reach their goals for their child's future."

Treasury was recognized for "a proven record of leadership" and "layers of accountability." Morningstar went on to state, "The Treasury team's cross functional approach has produced favorable partner deals, formalized succession planning, and measured fee reductions, while expanding outreach, accessibility, and plan participation." The plan also remains one of the most affordable plans, with costs "below those of most peers" or comparable plans.

The PA 529 IP is one of just two plans to earn the Gold Rating for the last four consecutive years (2023-2026). The PA 529 IP previously earned three consecutive Silver Ratings (2020-2022) and one Bronze Rating (2019).

The PA 529 IP provides a variety of investment portfolios from The Vanguard Group, including target enrollment date portfolios that shift investment risk automatically as a child reaches the age of post-high school education enrollment. PA 529 IP earnings are based on financial market performance.

PA 529 helps families steadily and strategically save for college, technical training, apprenticeships, credential programs and K-12 expenses. PA 529 accounts provide state and federal tax advantages, and savings do not impact Pennsylvania state financial aid eligibility.

Since taking office in 2021, Treasurer Garrity has cut PA 529 fees multiple times across the program, resulting in more than $29 million in savings for families.

PA 529 also offers the PA 529 Guaranteed Savings Plan (GSP), which allows families to save at today's tuition rates to meet tomorrow's tuition costs. Families can choose from a variety of tuition levels to save from community college to Ivy League. PA 529 GSP account earnings are based on tuition inflation rates.

Pennsylvania families have more than $10 billion saved for future education with PA 529. There are nearly 350,000 PA 529 accounts opened across both plans.

Treasury also administers Keystone Scholars which provides a $100 scholarship for every child born to, or adopted by, a Pennsylvania family since 2019. Nearly one million children have a Keystone Scholars account. Families are encouraged to claim their child's scholarship, monitor its investment growth, and continue saving on their own with PA 529.

To learn more about how to start saving with PA 529, visit pa529.com.

To learn more about the Pennsylvania Treasury, visit patreasury.gov. For the latest Pennsylvania Treasury news and updates, follow PA Treasurer Stacy Garrity on Facebook and @PATreasury on Instagram. You can also sign up for Treasury's newsletter here.