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Tomorrow's Scholar 529 Plan
Voya, under contract with TIAA-CREF Tuition Financing, Inc., manages Wisconsin's Tomorrow's Scholar® 529 savings program. Voya succeeded Wells Fargo as program manager in late October 2012. The revised program features nine age-based options, nine static allocation options, and 22 single fund options utilizing mutual funds managed by Voya, TIAA-CREF, BlackRock, Columbia, Lazard, CBRE Clarion, HCM, LSV, Northern, Wellington, Baillie Gifford, T. Rowe, Templeton, JP Morgan, and Delaware. To find a financial advisor in your area, use the Find a 529 Pro Directory. To find a financial advisor in your area, use the Directory of Financial Professionals.
Savingforcollege.com's 5-Cap Ratings provides an evaluation and comparison of 529 plans, utilizing a formula that examines dozens of factors grouped into the following categories. (Scale 0 to 5; 5 is highest)
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Enroll in Tomorrow's Scholar 529 Plan through a financial advisor. Search our directory of qualified financial professionals to find one near you.
Did you know?
Residents are not limited to investing in their own state's plan. Another state may offer a plan that performs better and has lower fees. If there is no tax break offered for in-state investors ... shop around!
Also, the plan chosen does not affect which state the student enrolls in. An investor can live in NY, invest in a plan from NV and send a student to college in FL.
SavingsFind a Professional
2001, but substantially changed in 2012
Wisconsin Department of Administration
Voya (Voya Investments Distributor, LLC and Voya Funds Services, LLC)
Voya Investments Distributor, LLC
Through October 26, 2017.
Individuals and Joint Owners of legal age, UGMA/UTMA custodians, and legal entities.
Accepts contributions until all account balances in Wisconsin's 529 plans for the same beneficiary reach $440,300.
$250, or $25 per month with the automatic contribution plan.
The Age-Based Option contains 9 portfolios offering a mix of underlying funds. Contributions are placed into the portfolio corresponding to the age of the beneficiary, and later reassigned to more conservative portfolios as the beneficiary approaches college age. Account owners may use the beneficiary's actual age or hypothetical age at enrollment.
Select among 5 multi-fund portfolios with varying risk tolerances and 23 single fund options.
Baillie Gifford, BlackRock, Clarion, Columbia, Delaware, Goldman Sachs, Hahn Capital Management, JP Morgan, Lazard, LSV, Northern, TIAA-CREF, T. Rowe Price, Templeton, Van Eck, Voya IM, and Wellington.
Click here, you need Microsoft Excel to open this document.
Click here to visit, link to the program website containing most current performance data.
Fees & Expenses
None, but contributions may be subject to a sales charge depending on share class.
$25 annually per account option with $25,000 or less, waived with automatic deposits of $25 per month in each option (active for the 12 previous months without interruption or since account opening).
0.18% management fee (includes 0.10% fee to the state), plus distribution/servicing fees of 0.25% (Class A), 1.00% (Class AR for Rollovers), 1.00% (Class C), 0.50% (Class C1; TIAA-CREF portfolios), none (Class W), and 0.05% for TIAA-CREF Principal Protection Option. Class AR shares convert to Class A shares after one year at which time distribution/servicing fees are 0.25%. Class C shares convert to Class A shares after six years, at which time distribution/servicing fees are 0.25%.
Ranges from 0.41% to 0.71% (portfolio weighted average) in the age-based and static allocation portfolios, 0.05% to 1.11% in the single fund portfolios, none for the TIAA-CREF Principal Protection portfolio.
Class A: 0.23% - 1.54%
Class AR (for rollovers): 1.23% - 2.29%
Class C: 1.51% - 2.29%
Class C1 (TIAA-CREF portfolios): 0.73% - 0.81%
Class W: 0.23% - 1.29%
Maximum initial sales charge: 4.75%
Dealer: 4.25% commission and 0.25% annual trail beginning month 13
Maximum Initial sales charge: None
1% trail in the 13th month
CDSC: 1.00% within the first 12 months only
Conversion to Class A: after year 1
CDSC: 1% within the first 12 months only
Dealer: 1% annual trail beginning in month 13
Conversion to Class A: after year six
Class C1 (TIAA-CREF portfolios):
CDSC: 0.50% within the first 12 months only
Dealer: 0.50% annual trail beginning in month 13
None (This share class is available through registered investment advisors who have an agreement with the program's distributor, employees of TFI, Voya or affiliates, employees of the underlying investment managers, or other designated persons approved by the program.
Class A sales load (dealer commission):
$0 - $999,999 - 4.75% (4.25%), no CDSC
$1 million and over - 0% (1.0% finder's fee); 1% deferred sales charge applies to distributions within 18 months
Taxes and other Benefits
Contributions to a Wisconsin 529 plan of up to $3,100 per beneficiary per year (any filing status) are deductible in computing Wisconsin taxable income. The maximum annual deductible will be increased annually to reflect inflation. Contributions in excess of the maximum annual limit may be carried forward to one or more future years and deducted up to the then annual maximum deductible amount each year until all amounts invested have been deducted from Wisconsin taxable income. Incoming rollovers from other states' 529 plans are accepted. Beginning with the 2015 tax year, the portion that is principal or contributions may qualify for reducing Wisconsin taxable income, including carry-forward for subsequent years; the portion attributed to growth is not eligible. Amounts that received an earlier Wisconsin reduction are not eligible. Contributors do not need to be the account owner to claim the deduction. Any Wisconsin taxpayer may claim a deduction for contributions to any account. Contribution deadline is April 15 of the year following the tax year. Parents no longer need to claim their child as a dependent in order to claim the deduction; however, the maximum deduction is reduced to $1,550 for a parent who is married and filing separately or who is divorced, unless the divorce judgment specified a different division of the $3,100 combined maximum.
Investment time horizon:
18 yrs (i.e. newborn): 0.33% annualized
10 yrs (i.e. 8-yr old): 0.59% annualized
2 yrs (i.e. 16-yr old): 3.00% annualized
Based on 7.65% WI tax rate. (For assumptions see 529 State Tax Calculator.)
Non-qualified withdrawals & rollovers to other 529 plans must be added back to Wisconsin taxable income unless eligible for the federal non-qualified withdrawal penalty waiver: death or disability of the beneficiary or withdrawals equal to the amount of a scholarship award in such period of such award.
Wisconsin follows federal tax-free treatment.
Does participation in the program provide beneficiaries with any advantages in qualifying for resident tuition status at state institutions?
Under Wisconsin law, accounts are not subject to levy, lien, garnishment, attachment, execution, or other process of law.
Distributions & Terminations
Account owner, beneficiary, eligible educational institution, or other third party, as directed by account owner
Accepts requests to transfer account ownership.
Documents, Access & Reporting