West Plains, MO. – Missouri State Treasurer Vivek Malek visited Missouri State University- West Plains on March 20, 2024. From our previous article, Malek was visiting the college to give a presentation on Missouri’s 529 college saving plan (MOST 529).
While there he talked about the importance and benefit of putting your yearly tax refunds into a MOST 529. The MOST 529 Savings Account can be used towards tuition for a two-year or four-year college, university, trade or vocational school, registered apprenticeships, k-12 private institutions, or any items needed to attend these schools such as books, supplies, room and board, and computer equipment.
As a recent change to the MOST 529, funds up to $35, 000 can be transferred into Roth IRAs without tax or penalty. This program currently serves 259 accounts with assets totaling over $6 million in areas around MSU- West Plains.
John Thomason, someone who attended this presentation, gave his insight, ” My takeaway from the presentation from the State Treasurer Malek is that the Missouri MOST 529 Savings Plan is a great option for families who want to save for a future college student. It is an account you can contribute to that is free of State and Federal Taxation and will grow with returns that are well above an average savings plan. I suggest those interested should visit missourimost.org for more details.”
For more information about the MOST 529 program visit www.MOST529.com. The treasurer’s office also offers weekly webinars for people interested in learning about the program, which you can get by clicking here.
