JEFFERSON CITY, MO — A top investment research firm has once again recognized Missouri’s MOST 529 Savings Plan as one of the best programs in the nation.
Morningstar Investment Research analyzes and assigns ratings to college savings plans across the nation every year based on cost, performance, tax benefits and more. This week, Morningstar confirmed the MOST 529 Plan has earned and maintained its prestigious Silver Medal status yet again.
“Missouri has proved to be a strong steward through thoughtful oversight of the MOST -Missouri’s 529 Savings Plan,” writes Madeline Hume of Morningstar. “A robust investment process and healthy state resources make this plan one of the country’s better choices.”
The MOST 529 Plan, which is administered by State Treasurer Eric Schmitt, is a tax-advantaged program that empowers Missourians to save for education. Investments in the plan can be used for various education expenses including K-12 tuition and qualified higher education expenses such as room and board, tuition, books and fees at most four-year colleges as well as many two-year institutions and vocational trade schools.
According to Morningstar, American families leave over $200 billion on the table by not using 529 Plans for college savings. Many families put their college funds in savings accounts and do not invest it. By investing those funds in a 529 Plan, families can earn a much higher return over time.
The MOST 529 Plan offers federal and state tax benefits, low costs and flexible ways to contribute. There are currently more than 160,000 active MOST accounts with around $3 billion in total assets.
To learn more about MOST 529, visit MissouriMost.org or call 888-414-MOST.