ISave 529 Earns Upgraded Rating from Morningstar
Iowa State Treasurer Roby Smith announced today ISave 529, Iowa’s direct-sold education savings plan, has earned a Silver Morningstar Medalist Rating. The rating recognizes the plan’s strong investment offerings, oversight and commitment to helping families save for future education expenses.
“This recognition reinforces what we have been working toward since I was first elected: making ISave 529 the best education savings plan for Iowa families,” said Treasurer Smith. “From reducing fees to expanding investment choices, my team and I have focused on making every dollar saved work harder for Iowans. Earning an upgraded rating from Morningstar is another indication we’re delivering to Iowans on that commitment.”
Morningstar, a leading independent investment research firm, evaluates 529 education savings plans across the country. They base their ratings on investment processes, management expertise, state oversight and fees. Plans receiving a silver rating demonstrate investment characterizes that Morningstar believes position them to deliver competitive long-term results for education savers.
“The Iowa Treasurer's office has maintained a steady focus on improving this 529 plan since 2023,” according to a press release from Morningstar. “Treasurer Roby Smith and his team have pushed for meaningful changes like reducing fees, smoothing the glide path, and adding prudent investment options during his time in office.”
The recognition follows a series of significant milestones for ISave 529 under Treasurer Smith’s leadership. In 2026, the plan surpassed $7 billion in assets under management, an all-time record for the plan. The plan also introduced new enrollment-based portfolios, expanded investment options and implemented its third fee reduction since Treasurer Smith took office in 2023. The most recent reduction lowered the plan’s annual asset-based fee to 0.15%, helping families keep more of their hard-earned savings invested.
“Whether a child dreams of attending a four-year university, pursuing a trade or completing an apprenticeship, I encourage you to learn more about ISave 529 and start saving today,” said Treasurer Smith. “My team and I are proud of this national recognition, but I’m not finished. I’ll continue looking for options to improve ISave 529 and help more Iowans build a strong financial foundation for their future education.”
To learn more about ISave 529, visit ISave529.com.
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More About ISave 529:
ISave 529 is Iowa’s direct-sold 529 plan administered by State Treasurer Roby Smith. With the plan, people can save for future educational expenses for themselves, children, grandchildren or others, and Iowa taxpayers can deduct up to $6,100 in contributions per beneficiary account from their state income taxes in 2026. An ISave 529 account can be opened with as little as $25, and anyone – parents, grandparents, even friends – can contribute. The plan offers a variety of investment options and is easy to manage online at ISave529.com or through the READYSAVE 529 app.
To learn how you can open an ISave 529 account, visit ISave529.com. For more information about the plan, read the Program Description.
