Delaware News

Delaware’s Education Savings Plan Earns Silver Rating

Office of the State Treasurer | State Treasurer Colleen C. Davis | Date Posted: Thursday, November 7, 2024


DE529 Logo. White DE with 529 in orange next to white silhouette of the map of Delaware. Logo also includes the words Education Savings Plan and the url 529.delaware.gov

The DE529 Education Savings Plan, Delaware’s tax-advantaged program designed to help pay for higher education expenses, received “Silver” status from Morningstar, the country’s most widely cited and influential investment plan rating group. This is the second consecutive year DE529 received the rating after being upgraded from “Bronze” status in 2023.

“With higher education costs remaining significant for most people, we’re proud to promote a strong savings plan in order to help Delawareans,” said State Treasurer Colleen Davis. “Morningstar’s rating underscores the plan’s commitment to providing quality investment options and effective management for families.”

Administered by the Office of the State Treasurer and managed by Fidelity Investments, the DE529 Education Savings Plan offers a variety of investment portfolios designed to meet the diverse needs of savers.

“DE529 Education Savings Plan features a robustly staffed investment management team and deeply researched and well-diversified portfolios,” according to the Morningstar report. “A strong menu combined with the team’s attention to continually improving diversification for savers merit an Above Average Process rating.”

The Delaware Plans Management Board provides oversight for the plan and ensures it adheres to the highest standards of governance and transparency. The board’s commitment plays a crucial role in fostering an environment of trust and reliability for plan participants.

“We are thrilled to receive this recognition from Morningstar for the second year in a row,” said
Donna Vieira, executive vice president and chief commercial officer for Sallie Mae who serves as Chair of the Delaware Plans Management Board. “The rating is a reflection of our ongoing dedication to providing an exceptional education savings program that empowers families to achieve their higher education goals.”

The DE529 Education Savings Plan continues to grow in popularity, as more families recognize the importance of early planning, the DE529 plan stands out as a trusted and effective resource.

As of September 30, 2,377 new accounts opened in 2024, with total assets under management in the program at $695,256,397.

Learn more about the DE529 Education Savings Plan here.

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Delaware’s Education Savings Plan Earns Silver Rating

Office of the State Treasurer | State Treasurer Colleen C. Davis | Date Posted: Thursday, November 7, 2024


DE529 Logo. White DE with 529 in orange next to white silhouette of the map of Delaware. Logo also includes the words Education Savings Plan and the url 529.delaware.gov

The DE529 Education Savings Plan, Delaware’s tax-advantaged program designed to help pay for higher education expenses, received “Silver” status from Morningstar, the country’s most widely cited and influential investment plan rating group. This is the second consecutive year DE529 received the rating after being upgraded from “Bronze” status in 2023.

“With higher education costs remaining significant for most people, we’re proud to promote a strong savings plan in order to help Delawareans,” said State Treasurer Colleen Davis. “Morningstar’s rating underscores the plan’s commitment to providing quality investment options and effective management for families.”

Administered by the Office of the State Treasurer and managed by Fidelity Investments, the DE529 Education Savings Plan offers a variety of investment portfolios designed to meet the diverse needs of savers.

“DE529 Education Savings Plan features a robustly staffed investment management team and deeply researched and well-diversified portfolios,” according to the Morningstar report. “A strong menu combined with the team’s attention to continually improving diversification for savers merit an Above Average Process rating.”

The Delaware Plans Management Board provides oversight for the plan and ensures it adheres to the highest standards of governance and transparency. The board’s commitment plays a crucial role in fostering an environment of trust and reliability for plan participants.

“We are thrilled to receive this recognition from Morningstar for the second year in a row,” said
Donna Vieira, executive vice president and chief commercial officer for Sallie Mae who serves as Chair of the Delaware Plans Management Board. “The rating is a reflection of our ongoing dedication to providing an exceptional education savings program that empowers families to achieve their higher education goals.”

The DE529 Education Savings Plan continues to grow in popularity, as more families recognize the importance of early planning, the DE529 plan stands out as a trusted and effective resource.

As of September 30, 2,377 new accounts opened in 2024, with total assets under management in the program at $695,256,397.

Learn more about the DE529 Education Savings Plan here.

image_printPrint

Related Topics:  , , , , , , ,


Graphic that represents delaware news on a mobile phone

Keep up to date by receiving a daily digest email, around noon, of current news release posts from state agencies on news.delaware.gov.

Here you can subscribe to future news updates.