School savings plan wins raves

The February newsletter for Morningstar FundInvestor said the Utah Educational Savings Plan "continues to set the standard" for low costs among 529 plans.

The news coincides with criminal charges against former UESP director, Dale C. Hatch. He was charged Tuesday with one count of felony theft for stealing $85,000 from the fund's administrative fee revenues for his own personal investments.

Hatch was fired last July, and Lynne Ward has since been named to supervise the $800 million fund.

Morningstar said in its newsletter that despite the Hatch ordeal, "we don't think that investors are at risk."

UESP again gets its top billing from the Washington-based mutual fund rating agency because it continues to offer low administrative fees.

UESP's primary fund provider is Vanguard, which Morningstar lists as having "low" asset-based costs, "excellent" quality of core investment options and shareholder friendliness and "good" investment flexibility.