Facebook Pixel
Quick links
LoginGet started
529 Plans
College Savings 101
Student Loans
For Professionals

Tomorrow's Scholar 529 Plan

4 / 5

Our rating

Good WI resident benefits

WI resident benefits

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, five static allocation options, and 18 single fund options investing in Voya mutual funds and other mutual funds managed by Baillie Gifford Overseas Limited; Voya Financial Management, Inc.; Brandywine Global Investment Management, LLC; LLC; Delaware Investments Fund Advisers and Macquarie Investment Management Global Limited (together, "DIFA"); Northern Trust Investments, Inc.; Polaris Capital Management, LLC; Victory Capital Management Inc; Voya Investment Management Co. LLC; Wellington Management Company LLP; Voya (Singapore) Limited Invesco Advisers, Inc.; T. Rowe Price Associates, Inc.; Teachers Advisors, LLC.; Sustainable Growth Advisers, LP; CBRE Investment Management Listed Real Assets, LLC; Lazard Asset Management LLC To find a financial advisor in your area, use the Directory of Financial Professionals.

Tomorrow's Scholar 529 PlanHigh Honors

KEY METRICS

OVERVIEW

Program type

Savings

Inception

2001, but substantially changed in 2012

State agency

Wisconsin College Savings Program Board

Tax deduction

For single filers: $5,130/yr per beneficiary

For joint filers: $5,130/yr per beneficiary

Program manager

Voya (Voya Investments Distributor, LLC and Voya Funds Services, LLC)

Program distributor

Voya Investments Distributor, LLC

Manager contract term

MORE INFORMATION

Eligibility

State residency requirements:

None

Who can be a participant/owner in the program?

Individuals and Joint Owners 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 $589,650.

Minimum contributions:

$250, or $25 per month with the automatic contribution plan.

Does the program offer an e-gifting platform for receiving gift contributions?

This plan offers an online tool to share a gift contribution link with family and friends.

Investment Options

Investors in Tomorrow's Scholar 529 Plan can select from the following investment options. Click on a portfolio name for more information.

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.
PortfolioE.R. % Equity1yr performance
Voya 529 Age 18+ Option0.77%12%5.59%
Voya 529 Age 17 Option0.8%20%5.67%
Voya 529 Age 16 Option0.82%32.05%5.8%
Voya 529 Age 15 Option0.81%34.05%5.91%
Voya 529 Age 13-14 Option0.85%44.06%5.66%
Voya 529 Age 11-12 Option0.86%55.11%5.74%
Voya 529 Age 9-10 Option0.88%65.12%5.72%
Voya 529 Age 5-8 Option0.91%78.17%5.55%
Voya 529 Age 0-4 Option0.94%90.21%5.42%

Age-based/Enrollment Year investment options:

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.

Static investment options:

Select among 5 multi-fund portfolios with varying risk tolerances and 18 single fund options.

Underlying investments:

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, five static allocation options, and 18 single fund options investing in Voya mutual funds and other mutual funds managed by Baillie Gifford Overseas Limited; Acadian Asset Management LLC; American Century Investment Management, Inc.; BlackRock (Singapore) Limited and BlackRock International Limited; Brandywine Global Investment Management, LLC; Delaware Investments Fund Advisers and Macquarie Investment Management Global Limited (together, "DIFA"); Fidelity Management & Research Company LLC (FMR); Geode Capital Management, LLC; Lazard Asset Management LLC; Voya Investment Management Co. LLC; Voya Investment Management (UK) Limited; T. Rowe Price Associates, Inc.; Teachers Advisors, LLC.; Sustainable Growth Advisers, LP; Wellington Management Company LLP.

Underlying fund allocations:

Portfolio Fees & Performance Lookup

Fees & Expenses

Enrollment or application fee:

None, but contributions may be subject to a sales charge depending on share class.

Account maintenance fee:

$25 annually per account option with $25,000 or less, waived for Wisconsin residents or accounts with automatic deposits of $25 per month in each option (active for the 12 previous months without interruption or since account opening).

Program management fees:

0.13% management fee (includes 0.05% fee to the state), plus distribution/servicing fees of 0.25% (Class A), 1.00% , 1.00% (Class C), 0.50% (Class C1; TIAA-CREF portfolios), none (Class W), and 0.05% for TIAA-CREF Principal Protection Option. Class C shares convert to Class A shares after five years, at which time distribution/servicing fees are 0.25%.

Expenses of the underlying investments:

Ranges from 0.38% to 0.51% (portfolio weighted average) in the age-based and static allocation portfolios and 0.05% to 0.93% in the single fund portfolios, none for the TIAA-CREF Principal Protection portfolio.

Total asset-based expense ratio:

Class A: 0.43% - 1.31%
Class C: 1.16% - 2.06%
Class C1 (TIAA-CREF portfolios): 0.68% - 0.69%
Class W: 0.16% - 1.06% TIAA-CREF Principal Protection: 0.18%

Broker loads and commissions:

Breakpoint pricing:

Does breakpoint pricing include non-529 assets under rights of accumulation policies

Taxes and other Benefits

Tax deduction for single filers:

$5,130/yr per beneficiary

Tax deduction for joint filers:

$5,130/yr per beneficiary

Program match on contributions:

None.

State tax deduction or credit for contributions:

Contributions to a Wisconsin 529 plan of up to $5,130 per beneficiary by an individual or married couple filing jointly, and up to $2,560 per year by married couple filing separately, are deductible in computing Wisconsin taxable income. The deduction is available to any Wisconsin taxpayer who contributes to an account in the plan, not just the account owner. Contributions exceeding the maximum deduction amount for the tax year may be carried forward to future tax years. Rollover contributions of the principal amount from another state's 529 plan are eligible for the Wisconsin income tax deduction subject to applicable yearly limitations.

Wisconsin employers who contribute to their employees' 529 account(s) may be eligible for a tax credit equal to 50% of the contributions that the employer makes, not to exceed a maximum credit of $800 per employee per tax year.

Calculate your Wisconsin 529 tax benefit

Find out how much you can save on state taxes this year by contributing to a Wisconsin 529 plan.

Your tax savings per year
$0

Household income

$100,000

Monthly Contribution

$100

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, apprenticeship programs, interest and/or principal on qualified education loans up to a $10,000 lifetime cap, and up to $10,000 per year in tuition in connection with enrollment or attendance at an elementary or secondary public, private, or religious school. Distributions from a 529 account directly to a Roth IRA are considered a qualified expense for state income tax purposes.

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

Is there a rewards program or outside scholarship program that works with this 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:

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:

Contact

Website:

http://www.tomorrowsscholar.com

Telephone:

1-866-677-6933

Telephone for broker use:

Get expert help finding the right 529 plan

Connect with a financial advisor in your local area

Tomorrow's Scholar 529 Plan

A good place to start:

See the best 529 plans, personalized for you
Helping families save for college since 1999
Key Resources
Our Company
Join our email list

The latest articles and tips to help parents stay on track with saving and paying for college, delivered to your inbox every week.

Frequently featured in:

Saving For College is an unbiased, independent resource for parents and financial professionals, providing them with information and tools to understand the benefits of 529 college savings plans and how to meet the challenge of increasing college costs.

20533 Biscayne Blvd Ste 4 #199 Miami, FL 33180-1501Phone: (585) 286-5426Copyright © 2025 Saving for College, LLC. All Rights Reserved