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, five static allocation options, and 18 single fund options investing in Voya mutual funds and other mutual funds managed by Baillie Gifford Overseas Limited; BlackRock Financial Management, Inc.; BlackRock Investment Management, LLC; Brandywine Global Investment Management, LLC; Brookfield Investment Management Inc.; Columbia Management Investment Advisers, LLC; Credit Suisse Asset Management, LLC; Delaware Investments Fund Advisers; Hahn Capital Management, LLC; Lazard Asset Management LLC; LSV Asset Management; Northern Trust Investments, Inc.; Polaris Capital Management, LLC; Teachers Advisors, Inc.; Van Eck Associates Corporation; Voya Investment Management Co. LLC; and Wellington Management Company LLP. To find a financial advisor in your area, use the Directory of Financial Professionals.

Fee Score

4 / 5

Performance

4 / 5
  • Program type
    Savings
  • Inception
    2001, but substantially changed in 2012
  • State agency
    Wisconsin College Savings Program Board
  • Tax deduction
  • Program Manager
    Voya (Voya Investments Distributor, LLC and Voya Funds Services, LLC)
  • Program distributor
    Voya Investments Distributor, LLC

Ratings & Rankings

Our overall rating for WI 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.

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.

SAVING FOR COLLEGE’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.

Eligibility

State residency requirements:

Who can be a participant/owner in the program?

Significant time or age restrictions imposed by the program:

Contributions

Maximum contributions:

Minimum contributions:

Investment Options

Age-based/Enrollment Year investment options:

View more age-based investment options

Static investment options:

View more static investment options

Underlying fund allocations:

Portfolio Fees & Performance Lookup

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Fees & Expenses

Enrollment or application fee:

Account maintenance fee:

Program management fees:

Expenses of the underlying investments:

Total asset-based expense ratio:

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
    $3,380/yr
  • Tax deduction for joint filers
    $3,380/yr

Example

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

Program match on contributions:

State tax deduction or credit for contributions:

State tax recapture provisions:

State definition of qualified expenses

State tax treatment of rollovers:

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

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

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

Upromise Helps Families Save for College

Statutory protection of an account from creditors:

Distributions & Terminations

To whom are distributions made payable:

Account Changes

Policy regarding participant/owner changes:

Documents, Access & Reporting

Does participant have online password-protected access to account?

Can the complete enrollment process including funding be done online?

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

Contact

Website:

Telephone:

Telephone for broker use:

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