PRESS RELEASE
Treasurer Fitzpatrick Partners with Office of Administration for College Savings Month
Jefferson City, MO — Kicking off College Savings Month, Missouri
State Treasurer Scott Fitzpatrick announced a partnership with former state
treasurer and now Office of Administration Commissioner Sarah Steelman to encourage
saving for education. Commissioner Steelman will join the Treasurer in sharing
opportunities to learn about the benefits of a MOST 529 plan to state employees
across Missouri. “Data demonstrates that having
an education savings account makes it more likely a child will attend a higher
education institution. Data also shows that education influences socioeconomic
mobility,” Treasurer Fitzpatrick
said. “This is why I have worked to lower the price of the plan and to make it
as versatile as possible. While COVID-19 has likely impacted the ability for
many Missourians to save for future education right now, providing access to savings
options remains important as we recover and move forward.” “The MOST 529 plan was new when
I was state treasurer—and it is wonderful to see how it has grown over the past
15 years,” Commissioner Steelman
said. “But there’s always more work that can be done. I’m proud to partner with
the Treasurer’s Office to ensure all state employees have access to information
about saving for education—whether K-12 tuition, trade school, college, or
graduate school.” State employees will receive information
about the MOST 529 Education Plan including access to webinars. The Treasurer’s
Office and MOST 529 staff are also working with employers across the state to
provide webinars about program benefits to their employees. Missourians who wish to learn
about saving for education—and using a MOST 529 to save money on K-12 tuition—can
attend webinars on Tuesdays and Thursdays throughout September. Information
about registering can be found here.
MOST, Missouri’s 529 Education
Plan, is a tax-advantaged savings plan for education expenses. Money in MOST
accounts can be used to pay for K-12 tuition and trade, college, and graduate
school tuition and expenses. Contributions are eligible for state tax
deductions, which can save families up to $864 a year, and assets in MOST 529
accounts grow tax-free. More information about MOST 529
can be found here. ### Follow the Treasurer’s Office on Twitter,
Facebook, and Instagram @motreasurer.
