TNStars College Savings 529 plan has just been recognized as the top direct-sold plan in the nation. TNStars™ is a program of the Tennessee Department of Treasury. The number one ranking comes from SavingForCollege.org, who analyzes the investment performance figures for thousands of 529 portfolios and ranks the 529 savings plans from best to worst. The latest report released compares one-year investment performance as of December 31, 2014. TNStars™ investment options rank number one in the nation.
TNStars™ is designed to give Tennessee families high quality investment options at a low cost to help them put aside money for higher education expenses, while enjoying certain tax advantages and special incentives. Tennesseans can invest directly with the program, without having to go through a financial advisor. Money can be withdrawn from a TNStars™ account tax-free as long as it is used for qualified post-secondary education expenses.
In a time when there has been much news regarding who benefits from 529 plans, TNStars™ serves families of all income levels. TNStars™ surveyed those who opened new accounts from September through December 2014 and learned more than half of all new accounts were opened by families making less than $100,000 combined annual household income. Fifteen percent of all new accounts in Tennessee in that time frame were actually opened by families making less than $50,000 annually.
“Tennesseans have a viable investment option to set aside money for their children’s post-secondary education,” said State Treasurer David H. Lillard, Jr. “Dollars invested in TNStars accounts are yielding strong returns. Even small amounts invested early will better prepare your child for education after high school.”
Currently, all families who open savings account with TNStars™ can receive up to $375 in incentives. Some families will qualify for a four-to-one match of up to $1500 per child. Money saved in a TNStars 529 account, including any extra incentives, can be used not only for post-secondary education tuition and fees, but also additional related expenses such as course books, room and board, and equipment and supplies required for attendance and enrollment at a qualified institution.
Research shows that children with a college savings account are six to seven times more likely to attend a four-year college, compared to children with no dedicated account. To learn more about opening a TNStars™ account or participate in this nationally top-ranked college savings program, visit www.TNStars.com.