Illinois 529 plan named top five in nation
The Bright Start College Savings Program has been named one of the top five plans in the nation, receiving a â€œgold cupâ€ from Kiplingerâ€™s magazine, Illinois State Treasurer Alexi Giannoulias said.
In its June edition, Kiplinger highlighted Bright Startâ€™s low fees and investment options, and suggested that residents who live in states that do not offer a 529 tax break choose one of its top picks. In addition to Illinois, Kiplingerâ€™s awarded its gold cup to Michigan, Nebraska, Ohio and Virginia.
â€œWe like the index portfolios in the Illinois direct-sold Bright Start College Savings Plan. The portfolios, which include mostly Vanguard funds, charge rock-bottom fees, which range from 0.20% to 0.22%,â€ the article stated.
Bright Start is a $2.5 billion program with more than 201,000 accounts and offers various investment options designed to meet the diverse investment objectives of families saving for college.
This is the second consecutive year Bright Start was honored by Kiplingerâ€™s. It also received national recognition by Consumer Reports and Money Magazine when both publications ranked Bright Start a top 529 plan in 2009, the last time they issued such ratings.