Performance Details

University of Alaska - Education Trust of Alaska

• Return to Departments
• University of Alaska website

Mission

Through its support of the Board of Regents, the three universities with distinct missions, and their community campuses, the University of Alaska System Office advances higher education and honors the Indigenous and diverse peoples of Alaska. The University of Alaska System Office manages corporate responsibilities, strategically stewards shared resources, and works with the universities to implement Regents' policies and directions to align with current and future needs of the state. University of Alaska Mission Statement Board of Regents' Policy 01.01.010 Adopted 02-24-23

Core Services

• Provide resources for families to fund education, qualifying for better jobs and more opportunities.

Mission Results	Core Services
A: Mission Result Details >	A1: Provide resources for families to fund education, qualifying for better jobs and more opportunities. Details > TARGET #1: Increase assets under management (AUM) in Alaska"s three 529 college savings plans offered by the Education Trust of Alaska. TARGET #2: Increase number of unique beneficiaries in Alaska"s three 529 college savings plans offered by the Education Trust of Alaska.

Performance Detail

Target #1: Increase assets under management (AUM) in Alaska"s three 529 college savings plans offered by the Education Trust of Alaska. Methodology: Assets under management include 529 accounts in the Alaska 529 (formerly University of Alaska College Savings Plan), the T. Rowe Price College Savings Plan and the John Hancock 529 Plan. Education Trust of Alaska Assets Under Management (in millions) Fiscal Year YTD Total FY 2024 10,531 +7.75% FY 2023 9,774 +4.74% FY 2022 9,332 -14.87% FY 2021 10,962 +22.13% FY 2020 8,976 +2.36% FY 2019 8,769 +4.47% Analysis of results and challenges: The Education Trust of Alaska"s assets under management (in millions) were $10,530.7 for the year ended 6/30/24, an increase of 7.7% over the prior year. The gains were primarily related to improvements in investment performance and an increase in participation in the incentive program. Target Last Modified: 09/20/2024

Target #2: Increase number of unique beneficiaries in Alaska"s three 529 college savings plans offered by the Education Trust of Alaska. Methodology: Counts unique beneficiaries of 529 accounts in the Alaska 529 (formerly University of Alaska College Savings Plan), the T. Rowe Price College Savings Plan and the John Hancock 529 Plan. Education Trust of Alaska Number of Beneficiaries Fiscal Year YTD Total FY 2024 314,277 -0.63% FY 2023 316,263 -0.44% FY 2022 317,669 +1.79% FY 2021 312,083 +1.72% FY 2020 306,815 +0.65% FY 2019 304,821 +0.55% Analysis of results and challenges: For the year ended 6/30/24, the number of beneficiaries decreased by 0.6% over the prior year. Advisor-sold plans are facing headwinds nationally, and the John Hancock Plan"s decline in beneficiaries reflects that national trend. Alaska 529 saw a beneficiary increase due to its incentive program. Target Last Modified: 09/20/2024

Last refreshed: 05/22/2025 08:00 am