SMART529 ONCE AGAIN RANKED AS TOP COLLEGE SAVINGS PLAN IN U.S.
State Treasurer Riley Moore today announced the state’s SMART529 WV Direct college savings plan has once again been ranked as the top direct-sold 529 plan in the country, according to the popular nationwide college planning website SavingForCollege.com.
“We’re proud West Virginia’s SMART529 plan leads the country in providing the best college savings options for our students and their families,” Treasurer Moore said. “We tell people all the time it’s never too early to start saving for your child’s future, and these rankings can give families confidence that when they invest their money in our SMART529 WV Direct plan, they’ll get the best bang for their buck.”
The SMART529 WV Direct Plan was ranked first in the nation in 3-, 5- and 10-year performance during the most recent rankings covering the fourth quarter of 2022. The website analyzed the performance of more than 3,000 529 investment options nationwide to come up with its rankings.
SavingForCollege.com noted the SMART529 WV Direct Plan “offers outstanding flexibility, attractive investments, and additional economic benefits (such as generous state tax incentives) that for some people, at least, will provide a substantial boost to their savings. There are few, if any, weaknesses noted in the program.”
A direct-sold plan is one in which a person can directly sign up for the plan, without it being sold through a financial adviser. West Virginia’s SMART529 WV Direct Plan is open to West Virginia residents and does not have a minimum investment requirement, sales charges or annual maintenance fee.
SavingForCollege.com cited the SMART529 WV Direct Plan’s low fee structure and variety of investment options as key factors for its ranking.
Additional benefits include:
- Contributions being fully deductible from your federal adjusted gross income on your West Virginia income tax return.
- Plan beneficiaries who are born or adopted in-state are eligible for a $100 seed contribution through the SMART529 Bright Babies Program.
- An e-gifting platform for receiving 529 plan gift contributions.
SMART529 is a qualified tuition program issued by the Board of Trustees of the West Virginia College and Jumpstart Savings Programs and administered by Hartford Funds. Complete information about SMART529 is available at www.SMART529.com.