Treasurer Stacy Garrity Announces Fee Reduction for PA 529 IP Account Owners

Harrisburg, PA - Treasurer Stacy Garrity today announced a fee reduction for PA 529 College and Career Savings Program Investment Plan (IP) account owners. This reduction will result in a combined savings of nearly $220,000 across all PA 529 IP accounts this year alone.

“I’m pleased to lower fees for families who are saving for their child’s future. We’re committed to constantly reviewing the fees in Treasury’s savings programs, cutting them whenever that can be done in a fiscally prudent way. Pennsylvania’s 529 program had its best year ever during fiscal year 2020-21, and keeping our fees low helps families save as much as possible for their child’s education.”

Pennsylvania State Treasurer, Stacy Garrity

Treasurer Garrity approved the reduction of the state fee for PA 529 IP account owners from 0.06% to 0.055%, effective August 20, 2021. IP account owners pay total fees ranging from .21% to .31% annually depending on their investment choices. When compared with similar programs in other states, the PA 529 IP has some of the lowest fees. The IP also has a Morningstar Silver RatingTM, making it one of just 14 plans nationwide to earn a Silver or Gold rating.

Families can also choose to save with the PA 529 Guaranteed Savings Plan, which is a lower-risk plan that lets families pay tomorrow’s tuition prices at today’s rates.

PA 529 accounts – which offer investment options specifically geared to the objective of saving for education – provide generous tax advantages, including a state income tax deduction on contributions and no tax paid on contributions or earnings when funds are used for qualified expenses. PA 529 account assets don’t count against a student when determining Pennsylvania financial aid eligibility.

Families have been saving for higher education with PA 529 accounts for nearly three decades. Over the life of the program, plans have paid out $4.56 billion in education expenses. Qualified expenses for PA 529 accounts include tuition, fees, equipment, room and board and other costs associated with postsecondary education at most institutions nationwide, including community colleges, technical schools, apprenticeship programs and four-year colleges and universities.

“PA 529s are for more than just a four-year degree. Pennsylvania needs skilled workers, and PA 529 accounts are a perfect tool to help families save for the training their child will need to gain critical skills to enter the workforce."

Pennsylvania State Treasurer, Stacy Garrity

To learn more about saving with PA 529 plans, visit or call 800-440-4000.

Share on Social Media