PRESS RELEASE
Treasurer Fitzpatrick Announces MOST, Missouri’s 529 Education Plan, Reaches Major Milestone
Jefferson City, MO – Missouri State Treasurer Scott Fitzpatrick today
announced that MOST, Missouri’s 529 Education Plan, has reached more than $4
billion in assets under management, a major milestone for the state’s 529 plan.
“As Treasurer, one of my most important jobs is helping
Missourians prepare for their financial future,” Treasurer Fitzpatrick said.
“Reaching $4 billion in education savings is a significant milestone for the
MOST 529 plan and is a testament to the work of Missourians to save for the educational
needs of their children. I’m proud of this achievement and look forward to
continuing to promote the importance of saving and planning for the future.” 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. The
plan currently has $4,025,257,418.59 in assets under management, an increase of
over one billion dollars since Treasurer Fitzpatrick took office in January 2019.
More than 180,000 Missourians are saving for education in the MOST plan, with over
30,000 accounts opened since 2019. Treasurer Fitzpatrick is
committed to making MOST as cost effective and accessible as possible. Earlier
this year, the Treasurer
announced the launch of READYSAVE 529, an education savings mobile application
for MOST 529 account owners. READYSAVE 529 users can view their account
balance, transaction history, and investment allocations. Additional features
include the option to make a one-time contribution or set up recurring
transactions, as well as the option to see how savings stack up versus peers in
the same plan. The app is available for download in the Apple and Google Play app
stores. In 2020, Treasurer Fitzpatrick
announced changes
to the MOST 529 Plan that save Missourians millions of dollars in program
management fees. MOST, Missouri’s 529 Education Plan, received
a Silver rating from Morningstar, an investment research company, making it
one of the highest ranking plans in the country. Each year, Morningstar assigns
ratings to education savings plans based on cost, performance, tax benefits,
and oversight. More information about MOST 529
can be found at MissouriMost.org. ### Follow the Treasurer’s Office on Twitter,
Facebook, and Instagram @motreasurer.
