State Treasurer Riley Moore today announced the state’s SMART529 WV Direct college savings plan has again been ranked as the top direct-sold 529 plan in the country, according to the popular nationwide college planning website SavingForCollege.com.

“We’re incredibly proud SMART529 remains hands-down the best option in the country for saving for your child’s education,” Treasurer Moore said. “These rankings should give families a tremendous amount of confidence in opening or depositing funds into a SMART529 WV Direct Plan. We always tell people, ‘It’s never too early to start saving for your child’s future,’ and these rankings show when you invest with SMART529, you’ll get the best bang for your buck.”

The SMART529 WV Direct Plan was ranked first in the nation in 5- and 10-year performance during the most recent rankings covering the second quarter of 2023. The website analyzed the performance of more than 3,000 529 investment options nationwide to come up with its rankings.

SavingForCollege.com noted the SMART529 WV Direct Plan “offers outstanding flexibility, attractive investments, and additional economic benefits (such as generous state tax incentives) that for some people, at least, will provide a substantial boost to their savings. There are few, if any, weaknesses noted in the program.”

A direct-sold plan is one in which a person can directly sign up for the plan, without it being sold through a financial adviser. West Virginia’s SMART529 WV Direct Plan is open to West Virginia residents and does not have a minimum investment requirement, sales charges or annual maintenance fee.

SavingForCollege.com cited the SMART529 WV Direct Plan’s low fee structure and variety of investment options as key factors for its ranking.

Additional benefits include:

• Contributions being fully deductible from your federal adjusted gross income on your West Virginia income tax return.
• Plan beneficiaries who are born or adopted in-state are eligible for a $100 seed contribution through the SMART529 Bright Babies Program.
• An e-gifting platform for receiving 529 plan gift contributions.

SMART529 is a qualified tuition program issued by the Board of Trustees of the West Virginia College and Jumpstart Savings Programs and administered by Hartford Funds.

As of June 30, the SMART529 program had $2.8 billion in assets under management, with 38,552 West Virginians invested in the program and 112,482 total accounts from individuals across the country.

Complete information about SMART529 is available at www.SMART529.com.