U.Fund 529 College Investing Plan named ‘best-in-class’

Morningstar Analyst Rating upgraded to Silver for 2019; new features improve experience for college savers

Boston, Massachusetts, UNITED STATES

Boston, Oct. 31, 2019 (GLOBE NEWSWIRE) -- MEFA is proud to announce that the current Morningstar Analyst Rating for its 529 College Investing Plan has been upgraded to Silver. The rating places the U.Fund 529 College Investing Plan in the top-tier of 529 college savings plans across the country.

Morningstar, Inc. is a leading provider of independent investment research that rates college savings plans on a five-tiered, qualitative scale with three positive levels – Gold, Silver and Bronze. The new rating, released October 22, endorses the U.Fund as a top college savings plan, likely to offer the best investment experiences for college savers.

Just this year, Fidelity Investments, the program manager for the MEFA U.Fund 529 College Investing Plan, announced new investment choices and lower fees for 529 college savings plans. Effective October 1, 2019, Fidelity reduced fees to its 529 Plan portfolios, which is expected to save MEFA U.Fund investors nearly $1M. Fidelity also expanded investment options, offering Blend Age-Based Portfolios, which will invest assets in a combination of underlying index and active funds which seek to provide investment results that correspond to the total return of a specific index. These portfolios are designed to generate returns that attempt to beat a composite of major market indices over the long term.

“Massachusetts [MEFA] remains consistently engaged in [the UFund’s] oversight, inspiring confidence that the plan will remain a strong choice,” noted Jeff Holt, Morningstar Analyst. “Notably, Massachusetts approved a state tax deduction (up to $1,000 single/$2,000 joint) beginning in 2017, adding appeal for residents.”

In addition to best-in-class investing, savers in the MEFA U.Fund 529 College Investing Plan also benefit from a robust, customized landing page focused on U.Fund benefits, as well as access to educational content covering the journey of planning for college, opening a 529 college savings plan, and paying for college. These tools and resources help savers track toward their goals.

Those interested in learning more about the MEFA U.Fund 529 College Investing plan can visit mefa.org/ufund.

About MEFA

MEFA is a not-for-profit state authority, not reliant on state or federal appropriations, established under Massachusetts General Laws, Chapter 15C. MEFA’s mission, since its founding in 1982, has been to help Massachusetts students and families access and afford higher education and reach financial goals through education programs, tax-advantaged savings plans, low-cost loans, and expert guidance. All of MEFA’s work aligns with the ever-present goal to support the independence, growth, and success of Massachusetts students and families. Visit mefa.org to learn more or follow MEFA on Twitter @mefatweets and on Facebook at mefaMA.

About Fidelity Investments

Fidelity’s mission is to inspire better futures and deliver better outcomes for the customers and businesses we serve. With assets under administration of $7.8 trillion, including managed assets of $2.8 trillion as of September 30, 2019, we focus on meeting the unique needs of a diverse set of customers: helping more than 30 million people invest their own life savings, 22,000 businesses manage employee benefit programs, as well as providing more than 13,500 financial advisory firms with investment and technology solutions to invest their own clients’ money. Privately held for more than 70 years, Fidelity employs more than 40,000 associates who are focused on the long-term success of our customers. For more information about Fidelity Investments, visit https://www.fidelity.com/about.





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