Click to hear KMZU’s Mike Stone’s interview with Missouri State Treasurer Clint Zweifel.
The State Treasurer says a MOST 529 plan is a great way to start saving for college.
You can receive a tax deduction on the contributions you make into your MOST 529 account.
The State of Missouri is giving away $5290 in a MOST 529 savings account to help with the cost of higher education. Over 10,000 Missourians have entered for a chance to win. The deadline to enter is tomorrow, Saturday, May 31st.
There are more than 129,000 accounts active with more than $2 billion invested. Your contributions can grow tax free and you can receive a tax deduction.
It is important to remember that with all investments, returns are not guaranteed.
This contest is open to Missouri residents.
Press Release From the Office of the Missouri State Treasurer
JEFFERSON CITY – Missouri State Treasurer Clint Zweifel (ZWY-ful) announced today that more than 10,000 Missourians have signed up for a chance to win a $5,290 contribution into a MOST 529 account. Throughout the month of May, individuals 18 years or older can sign up to win the money in a MOST 529 account to benefit a child younger than 18. MOST—Missouri’s 529 College Savings Plan will be awarding one lucky family the $5,290 prize.
“We have seen a lot of excitement around this program,” Treasurer Zweifel said. “Families understand how important higher education is to a student’s success, and they realize the huge impact $5,290 can have on higher education expenses when the time comes. This giveaway is a great way to promote the importance of saving for higher education, and I’m glad so many families are participating.”
Treasurer Zweifel has visited schools across the state to talk to students about the importance of investing in the future from an early age. Those investments can mean saving money for higher education, working hard in school or volunteering in the community.
To enter to win, visit MissouriMost.org. Saturday, May 31 is the last day Missourians can enter. The winner will be notified in June.
More than $2 billion is invested in MOST 529 Direct Plan accounts by more than 129,000 account owners, both an all-time high. To learn more about MOST 529, visit MissouriMost.org or call 888-414-MOST (888-414-6678). The MOST 529 Plan offers federal and state tax benefits, low costs and flexible ways to contribute.
About MOST 529
State Treasurer Clint Zweifel sponsors MOST 529, a tax-advantaged program that enables families to save for a child’s higher education. MOST 529 is an affordable, low-cost, tax-deferred way to save for higher education expenses. Investments in the plan can be used towards many qualified higher education expenses, including tuition, certain room and board expenses, books and mandatory fees at most four-year colleges and universities, many two-year institutions and vocational schools, and some schools abroad. In addition, savings in MOST 529 can be used towards associate’s, bachelor’s, and advanced degrees. Account owners may deduct up to $8,000 in contributions each year in computing their Missouri state income tax and married couples filing jointly may deduct up to $16,000 annually. Contributions to the Plan in a tax year are deductible from Missouri state income tax up to certain limits, but may be subject to recapture in subsequent years if you make a nonqualified withdrawal.
Investment returns are not guaranteed, and you could lose money by investing in the Plan.
Earnings on nonqualified withdrawals may be subject to federal income tax and a 10% federal penalty tax, as well as state and local income taxes. The availability of tax or other benefits may be contingent on meeting other requirements.
Investment objectives, risks, charges, expenses, and other important information are included in this document; read and consider it carefully before investing. Vanguard Marketing Corporation, Distributor and Underwriter.
If you are not a Missouri taxpayer, consider before investing whether your or the designated beneficiary’s home state offers any state tax or other benefits that are only available for investments in such state’s qualified tuition program.
The Missouri Higher Education Savings Program (the “Program Trust”) is a trust created by the State of Missouri. When you invest in MOST—Missouri’s 529 College Savings Plan (the “Plan”), you are purchasing portfolio units issued by the Program Trust. Portfolio units are municipal securities. The Plan has been implemented and is administered by the Missouri Higher Education Savings Program Board (the “Board”). Upromise Investments, Inc., and Upromise Investment Advisors, LLC, serve as the Program Manager and Recordkeeping and Servicing Agent, respectively, with overall responsibility for the day-to-day operations. The Vanguard Group, Inc., serves as Investment Manager for the Plan. Vanguard Marketing Corporation, an affiliate of The Vanguard Group, Inc., markets and distributes the Plan. The Plan’s portfolios, although they invest in mutual funds, are not mutual funds.
529 College Savings Day is a registered service mark of Upromise Investments, Inc. Used with permission.