State Treasurer Clint Zweifel (ZWY-ful) is reminding Missourians that two Kindles and $100 in Amazon gift cards are up for grabs in celebration of 529 College Savings Day, but entries must be received by May 31. MOST – Missouri’s 529 College Savings Plan is sponsoring the giveaway. Missourians can enter to win at www.most529savings.com.
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Winners will be notified June 1 and will receive: 1st Place – A Kindle and $50 Amazon gift card; 2nd Place – A Kindle; 3rd Place – A $50 Amazon.com gift card.
My wife, Janice, and I are focused on summer learning for our two daughters, and we hope the winners will use these great prizes the same way," said Treasurer Zweifel, sponsor of MOST 529. "Also, I want to remind families that saving for college, technical schools and other advanced learning can never start too early. We are saving for Selma and Ellie through MOST 529 because they have some pretty big plans û it is important to get an early jump to help them reach their goals."
Missourians, 18 or older, are eligible.* Full terms and conditions are available online.
MOST 529 currently has more than 114,000 account owners and more than $1.5 billion in assets, each an all-time high for the plan. Accounts can be started with as little as $25, with earning growing tax deferred. Additionally, tax-free withdrawals can be made for qualified higher-education expenses, contributions qualify for significant tax deductions and a wide range of low-cost investment options are available.**
About MOST 529
State Treasurer Clint Zweifel sponsors MOST 529, the 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 plans 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 state income tax and married couples filing jointly may deduct up to $16,000 annually. Contributions to MOST 529 in a tax year are deductible from Missouri state income tax, but may be subject to recapture in subsequent years if an account owner makes a non-qualified withdrawal.
* Except employees and their immediate families and members of the same household of the sponsor (MOST – Missouri’s 529 College Savings Plan), The Vanguard Group, Inc.; Upromise Investments, Inc.; the State Treasurer Clint Zweifel’s office; and their respective agents or affiliates.
** Earnings on non-qualified 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. Contributions to the plan in a tax year are deductible from Missouri state income tax, but may be subject to recapture in subsequent years if you make a non-qualified withdrawal.
Investment returns are not guaranteed, and you could lose money by investing in the Plan. Participants assume all investment risks, including the potential for loss of principal, as well as responsibility for any federal and state tax consequences.
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.
For more information about MOST – Missouri’s 529 College Savings Plan, call 1-888-414-MOST or visit www.missourimost.org to obtain a Program Description, Privacy Policy, and Participation Agreement. 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.
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, including effecting transactions. The Vanguard Group, Inc., and American Century Investments serve as Investment Managers 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. Vanguard is a trademark of The Vanguard Group, Inc. Used with permission.