GOVERNMENT Indiana’s college savings plan ranked among nation’s best

GOVERNMENT

Indiana’s college savings plan ranked among nation’s best

C h icago -ba se d investment research firm Morningstar Inc. has named Indiana’s CollegeChoice 529 Direct Savings Plan one of the nation’s five best.

State Treasurer Richard Mourdock, chairman of the Indiana Education Savings Authority, hired Massachusettsbased Upromise Investments last September to administer the plan.

Mourdock said his goal was to offer one of the lowest-cost 529 plans in the nation, prioritizing the needs of middle- and low-income families.

Since then, the CollegeChoice plan has seen a 28-percent increase in total accounts. As of April 22, the plan had $758.7 million in 142,218 accounts.

Morningstar’s evaluation criteria included asset allocation, fees, flexibility and overall quality of underlying investments.

“I am proud of the ranking and our achievement, but am even more proud of the record number of Hoosiers who are saving for college,” Mourdock said in a written statement.

For more information on Indiana’s CollegeChoice 529 Savings Plan, visit www. collegechoiceplan.com.