PA 529 Plan Earns Fourth Straight Morningstar Gold
Pennsylvania's college savings plan has now held Morningstar's top rating four years running, according to the state treasurer.
Updated on Nov. 14, 2026 in Saving
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The PA 529 Investment Plan received a Morningstar Gold Rating for the fourth consecutive time, as announced by Treasurer Stacy Garrity. The plan is one of two to earn the Gold Rating for 2023 through 2026.
Why it matters
Morningstar based its rating on the Treasury team's cross-functional approach, favorable partner deals, formalized succession planning, and measured fee reductions. For Pennsylvania families saving for education, the rating is an independent signal of how the plan is run.
Morningstar has rated the PA 529 plan Gold for 2023 through 2026, after Silver ratings for 2020 to 2022 and a Bronze rating in 2019. Fee cuts have saved families $29 million, though the source does not describe how future ratings will be assigned.
The players
Morningstar
Morningstar is an independent investment research firm that rates 529 college savings plans.
Stacy Garrity
Stacy Garrity is the Pennsylvania State Treasurer, who oversees the PA 529 program and has cut its fees since 2021.
The details
The plan offers portfolios from The Vanguard Group, including target enrollment date portfolios that shift investment risk automatically as a child ages. PA 529 accounts provide state and federal tax advantages and do not affect Pennsylvania state financial aid eligibility. Treasurer Garrity has cut fees several times since taking office in 2021.
Timeline
2019: The plan earned its first rating, a Bronze.
2020-2022: The plan earned three consecutive Silver Ratings.
2021: Treasurer Garrity took office and began cutting fees.
2023-2026: The plan earned four consecutive Gold Ratings.
November 14, 2026: Treasurer Garrity announced the fourth consecutive Gold Rating.
Season Trajectory
Keystone Scholars, which provides a $100 scholarship for every child born to or adopted by a Pennsylvania family since 2019, is also administered by the Treasury. The plan's Gold ratings sit alongside that program as part of the Treasury's broader effort to expand savings for families.
Families saving for college can compare the PA 529 plan's Gold-rated portfolios, including age-based options that shift risk automatically. Because PA 529 savings do not affect Pennsylvania state financial aid eligibility, the plan may suit families planning for education costs.
The takeaway
Compare the plan's investment options and fee structure before enrolling, since the rating reflects Morningstar's assessment rather than a guarantee of returns. Families can also check whether state tax advantages apply to their situation.
Further reading
For related context, see Saving coverage for Pennsylvania families.
More information
Enrollment details and program information are available at the PA 529 program information and enrollment page.
Source note: This article includes information reported by GantNews.
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