North Carolina’s 529 plan administrator is cutting two fund choices due to high fees and poor performance. The Balanced Fund and CollegeHorizonFunds will be discontinued July 1. Participants with money in those funds will be able to move it to the other funds in North Carolina’s 529 plan.
Find out more about North Carolina 529 plans.
Morningstar is releasing its ranking of top 529 plans, based on fees, investment quality, asset allocation and flexibility.
Here are its picks for best 529 plans
Utah Education Savings Plan Trust
Virginia Education Savings Trust
The worst 529 plans were ones that often had too aggressive of age-based funds that lost significant value during the stock market crash.
The Wall Street Journal is reporting that the Obama family invested $240,000 into their kids 529 plans. They took advantage of the ability to max out 5 years worth of contributions without gift tax penalties. The money was invested in Illinois’ Bright Directions College Savings Program