PRESS RELEASE
State Treasurer Malek Celebrates National 529 Day with $50 Incentive for New Accountholders in May
FOR IMMEDIATE RELEASE Contact: Caty Luebbert, 573-751-5390
MOST 529 offers a convenient, flexible, and tax-advantaged way to save for eligible education expenses. Families may use their investments in a MOST 529 savings account to pay tuition for K-12, registered apprenticeships, trade or vocational schools, two to four-year colleges or universities, and graduate school. The money may also be used for qualifying expenses such as books, supplies, room and board, and computer equipment. In 2024, 23% of plan distributions were used to pay for K-12 education in Missouri.
“A good education is one of the most vital ways you can contribute to your child’s development and future success into adulthood,” said Treasurer Malek. “Saving and investing now increases the earning potential rather than having to pay big dividends later. As many Missourians celebrate the end of the traditional school year this month, the first 800 people who fund a new account with $50 using promo code MOSTMAY will be able to stretch their savings even further with a $50 match.”
Since Treasurer Malek was sworn into office in January 2023, MOST 529 Savings Accounts have increased by nearly 10,000. Missouri’s 529 Education Plan currently has more than 198,000 funded beneficiary accounts with assets totaling $4.4 billion.
Money invested now can grow in value over the years, free of state and federal taxes, and Missouri residents also get a state tax deduction up to $8,000 per person, or $16,000 if married or filing jointly. It is also easy for family and friends to contribute to the savings account through a “Ugift” code the account holder creates.
For more information about MOST 529, including the ongoing May promotion, visit missourimost.org/get50 or call 888-414-MOST (888-414-6678).
