The Missouri State Treasurer Eric Schmitt spoke before the Butler Rotary Club on Tuesday, February 21st Eric spoke before members encouraging them to spread the word about the Higher Education Savings Rate known as the “MOST 529 Plan”, available for Missouri residents.
His goal was to encourage Missouri citizen’s to take advantage of the Missouri MOST 529 plan, created to encourage people to save money now for the higher education expenses for their children and grandchildren.
The plan has many opportunities and tax breaks for those that enroll in the Missouri Higher Education Plan.
There are no enrollment fees to open an account and you can start with an investment of any amount. The MOST 529 Plan doesn’t charge any advisor fees or sales commissions. You pay no federal or Missouri state income taxes on investment earnings when you use withdrawals for qualified higher-education expenses and you may qualify for an annual $8,000 or ($16,000 if married filing jointly ) Missouri state income tax deduction or contributions you make to your 529 savings for a higher education plan.
Statists show that children are 6 times more likely to go to college when they have this program and account. It’s a smart way to grow funds for a college education and can be opened for children as young as grade K through 12, for private schools or parochial schools, technical schools, online schooling, a 2- year or 4- year college.
To find out more about planning for your children’s or grandchildren’s future see the web at Missouri MOST.org. Call 800-868-3585 or open a savings account at missouricollegesavaings.com on the web.
Adrian Bank Tyler Bise, Kay Caskey, Missouri Treasurer Eric Schmitt Pictured ( left to right)