(This article is a press release from the office of Missouri Treasurer, Vivek Malek.)
Jefferson City, MO. – National 529 Day, observed annually on May 29, is a day to raise awareness and encourage families to utilize a 529 plan and make the most of tax-advantaged savings for future eligible education expenses, including college tuition, registered apprenticeships, room and board, computer equipment, and even K-12 tuition.
To observe National 529 Day, State Treasurer Vivek Malek encouraged everyone to take advantage of Missouri’s 529 Education Savings Plan (MOST 529). In May, new account holders who contribute $50 will receive a $50 match.
“The MOST 529 Program has helped families set their loved ones up for educational success for over 25 years,” said Treasurer Malek. “This year, I am proud to offer a $50 match, giving new accountholders the opportunity to grow their savings even further in May. Nearly 200 Missourians have already used the promo code MOSTMAY to qualify, and I hope to see more signups as we finish out the last week of offering this incentive in honor of National 529 Day.”
Since Treasurer Malek was sworn into office in January 2023, MOST 529 Savings Accounts have increased by nearly 10,000. Missouri’s 529 Education Plan currently has more than 198,000 funded beneficiary accounts with assets totaling $4.5 billion.
Money invested now can grow in value over time, free from state and federal taxes. Additionally, Missouri residents are eligible for a state tax deduction of up to $8,000 per person or $16,000 if married and filing jointly. It is also easy for family and friends to contribute to the savings account through a “Ugift” code the account holder creates.
For more information about MOST 529, including the ongoing May promotion, visit missourimost.org/get50 or call 888-414-MOST (888-414-6678).
