May 29th – Utah Educational Savings Plan Day

Morningstar has always been a fan of Utah’s 529 College Savings Plan. This pattern held true last week, when Morningstar named the Utah Educational Savings Plan (UESP) 529 one of the top five college savings tools in the country. The plan’s use of low-cost, flexible Vanguard index funds make it a Morningstar favorite. Fees are a rock-bottom .22% – .35%, and flexibility is provided by the five distinct age-based investment choices, which gives investors a good deal of choice to match the options with a level of risk they are comfortable with. Investors also have the option of three individual funds and a few static options to augment the age-based options or build their own portfolios.

Additionally, as part of the American Recovery and Reinvestment Act of 2009, account owners can claim computers and related equipment as a qualified higher education expense for their college student in 2009 and 2010.

Lastly, the State has declared May 29th (5/29) to be Utah Educational Savings Plan Day. Contributions made to a new 529 plan that day will be matched up to $20. If you’ve been looking for a way to invest in your child’s future, why not take advantage of the great tools the State has made available to us. Speak to your financial planning professional today about funding an account.