The ratings are in. Once again, Utah’s my529 ranks among the top 529 educational savings plans in the nation.

Morningstar Research Services LLC, a leading provider of independent investment research, rated my529 with a Morningstar Analyst Rating™ of Gold. This is the eighth consecutive year my529 has earned Morningstar’s premier accolade. Morningstar Research Services LLC is a subsidiary of Morningstar Inc.

“Utah’s my529 has a new name, but its core tenets of robust investments, low cost, and exceptional state oversight remain,” wrote Madeline Hume, Morningstar manager research analyst for multi-asset and alternative strategies, in her October 30, 2018, report. “We reaffirm its Morningstar Analyst Rating™ of Gold.”

Morningstar evaluated 62 plans nationwide in the annual report, with my529 as one of four to earn the Gold rating. Morningstar’s Manager Research Group assesses 529 plans based on oversight, underlying investment quality, the asset-allocation approach used by the age-based portfolios, fees, and performance.

“We’re delighted that Morningstar continues to recognize my529 for our investment offerings, low fees, and flexibility,” said Lynne Ward, my529 executive director. “my529 is committed to working for families whose investment in the future includes education.”

In 2018, my529 changed its name from the Utah Educational Savings Plan and made significant enhancements. Morningstar noted my529’s fee reductions and the addition of a PIMCO stable value fund to the menu of underlying funds.

Morningstar also acknowledged the state income tax benefits available to Utah residents when they contribute to their my529 account.

“Both residents and nonresidents will be well served by its low cost and appealing set of investment options,” Hume wrote.