General InformationDownload PDF Report

Edvest logo

Edvest

Wisconsin's Edvest is a direct-sold 529 college savings plan available to residents of any state, and offers low minimums and a variety of investment options from TIAA-CREF, T. Rowe Price and others. Wisconsin residents may enjoy a state tax deduction for contributions to the plan.


  • Program typeSavings
  • Inception1997, but substantially changed in 2012
  • State agency
    Wisconsin Department of Financial Institutions
  • Tax deduction
    Tax deduction for single filers $3,200/yr
    Tax deduction for joint filers $3,200/yr
  • Program Manager
    TIAA-CREF Tuition Financing, Inc.
  • Program distributor
    TIAA-CREF Individual & Institutional Services, LLC
  • Manager contract termUNLOCK PRO

Ratings & Rankings

Our overall rating for WI residents

This is a program that offers outstanding flexibility, attractive investments, and additional economic benefits (such as generous state tax incentives) that for some people, at least, will provide a substantial boost to their savings. There are few, if any, weaknesses noted in the program.

Our overall rating for non-residents

This is an excellent program with many benefits for the participant and positive investment attributes. If it has any significant weaknesses then it also has some particularly good things to recommend it.

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.


4.21out of 5
top-ten

Each plan's performance score is developed directly from Savingforcollege.com's Quarterly 529 Performance Rankings. A 529 savings plan must have at least one year of performance history before they will be assigned a 5-cap rating. For those plans that are not part of our quarterly performance rankings, such as plans offering a single set of bank-based investment options, we assign a performance score by evaluating the returns currently available on similar types of investments outside of 529 plans.

Eligibility

State residency requirements:

None

Who can be a participant/owner in the program?

U.S. citizens and resident aliens of legal age, UGMA/UTMA custodians, and legal entities.

Significant time or age restrictions imposed by the program:

None

Contributions

Maximum contributions:

Accepts contributions until all account balances in Wisconsin's 529 plans for the same beneficiary reach $472,000.

Minimum contributions:

$25 per investment option, or $15 per investment option with the automatic contribution plan.

Investment Options

Age-based investment options:

The Age-Based Option is offered in 2 different risk levels, each containing 9 portfolios of underlying mutual funds. Contributions are placed into the portfolio corresponding to the number of years to expected enrollment, and later reassigned to more conservative portfolios as the beneficiary approaches college enrollment.View more age-based investment options

Static investment options:

Select among 3 index-based multi-fund portfolios (Aggressive, Moderate, Conservative), 3 active-based multi-fund portfolios (Aggressive, Moderate, Conservative), two additional multi-fund portfolios, 5 individual-fund portfolios, a bank CD Portfolio and a principal plus interest portfolio that guarantees an annual interest rate of 1% - 3%.View more static investment options

Underlying investments:

Mutual funds managed by TIAA-CREF, DFA, MetWest, T. Rowe Price and Franklin Templeton.View a full list of this plan's investment options

Underlying fund allocations:

UNLOCK PRO

Portfolio Fees & Performance Lookup

UNLOCK PRO

Fees & Expenses

Enrollment or application fee:

None.

Account maintenance fee:

None.

Program management fees:

0.08% management fee. The state administrative fee of 0.10% is currently being waived. The management and state fees do not apply to the Principal Plus Interest Portfolio.

Expenses of the underlying investments:

Ranges from 0.07% to 0.33% (portfolio weighted average) in the age-based and static multi-fund portfolios, 0.06% to 0.19% in the individual-fund portfolios (N/A for the Principal Plus Interest Portfolio). The CD option has no underlying expense beyond the management and state administration fee.

Total asset-based expense ratio:

0.08% - 0.41%

Taxes and other Benefits

  • Tax deduction for single filers$3,200/yr
  • Tax deduction for joint filers$3,200/yr

Example

Married filing jointly residents contributing $100/month can expect an additional $0 a year in tax savings.

Program match on contributions:

None.

State tax deduction or credit for contributions:

Contributions to a Wisconsin 529 plan of up to $3,200 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 $1,600 for a parent who is married and filing separately or who is divorced, unless the divorce judgment specified a different division of the $3,200 combined maximum.

State tax recapture provisions:

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. Withdrawals taken within 365 days of a contribution must be added back to WI taxable income if previously deducted and the account balance was less than the withdrawal amount prior to the contribution.

State definition of qualified expenses

The state conforms with the federal definition of qualified education expenses, which includes expenses for higher education, as well as up to $10,000 per year in tuition in connection with enrollment or attendance at an elementary or secondary public, private, or religious school.

State tax treatment of qualified distributions:

Qualified distributions from Wisconsin and non-Wisconsin 529 plans are exempt. Under Wisconsin law, a beneficiary's right to qualified withdrawals from a Wisconsin 529 plan is not subject to garnishment, attachment, execution, or other process of law.

State tax treatment of rollovers:

Wisconsin follows federal tax-free treatment.

Does the sponsoring state exclude the value of an account for state financial aid purposes?

Yes

Does participation in the program provide beneficiaries with any advantages in qualifying for resident tuition status at state institutions?

No

Does the program have a formal agreement with a rewards program or outside scholarship program?

Yes, the Upromise Rewards program can be linked to any 529 college savings plan. Upromise Rewards is free to join and offers members cash back for college.

Statutory protection of an account from creditors:

UNLOCK PRO

Want to Boost your Savings?

You could be saving more with gifts from family and friends. CollegeBacker makes it easy to start a 529 plan, and then invite others to contribute for birthday parties, holidays, or even on a monthly basis.

Start saving with family and friends

Alternative 529 Plans

NextGen 529 -- Client Direct Series

Our Rating

4.5 out of 5

Fee Rank

25 of 56

Performance 
Rank

8 of 56
enroll now
42,004 clicked to enroll
enroll now
42,004 clicked to enroll

T. Rowe Price College Savings Plan

Our Rating

4.5 out of 5

Fee Rank

45 of 56

Performance 
Rank

4 of 56
enroll now
49,271 clicked to enroll
enroll now
49,271 clicked to enroll

New York's 529 College Savings Program -- Direct Plan

Our Rating

5 out of 5

Fee Rank

1 of 56

Performance 
Rank

3 of 56
enroll now
146,220 clicked to enroll
enroll now
146,220 clicked to enroll

Distributions & Terminations

To whom are distributions made payable:

Account owner, beneficiary, eligible educational institution, or other third party, as directed by account owner.

Account Changes

Policy regarding participant/owner changes:

Accepts requests to transfer account ownership.

Documents, Access & Reporting

Does participant have online password-protected access to account?

Yes

Can the complete enrollment process including funding be done online?

Yes

Documents and other services accessible or downloadable on the program's public Web site:

UNLOCK PRO

Contact

Website:

http://www.edvest.com

Telephone:

1-888-338-3789

Twitter

https://twitter.com/Edvest529

Facebook

Edvest529