Louisiana’s START Saving Program Recognized As Best Performing 529 Program in America Over Past Ten Years
SavingForCollege.com, a national College Saving Plan comparison website that publishes rankings each quarter, reported that Louisiana's START Savings Program ranked first for 10-year performance among all 529 plans in America. START was also ranked among the Top 10 State 529 plans for 1-year, 3-year and 5-year performance.
"SavingForCollege.com created its rankings several years ago to help investors gauge how well their plans were performing relative to their peers," said SavingForCollege.com founder Joseph Hurley.
The START Saving Program is an innovative college savings program that qualifies as a “529 Plan” under the Internal Revenue Code. START offers federal and state tax incentives to anyone who wishes to financially assist a student in acquiring a college education.
In addition to regular earnings on investments, accounts will receive a contribution from the state, called “Earnings Enhancements,” to match a percentage of their annual deposits, ranging from 14 percent to two percent determined by the account owner’s prior year federal adjusted gross income as reported to the Internal Revenue Service (IRS).