JEFFERSON CITY, Mo., Aug. 27 -- The Missouri State Treasurer issued the following news release:
State Treasurer Clint Zweifel (ZWY-ful) today shared the names of the winners of the MOST--Missouri's 529 College Savings Program State Fair Giveaway and the results of Unclaimed Property searches conducted by his team for fairgoers.
This year, Treasurer Zweifel and MOST 529 sponsored a giveaway to encourage participation in the college savings program. Treasurer Zweifel and MOST 529 gave Amazon Kindles to five Missouri families who entered a drawing during the fair. The winners include: Karen Jump from Bolivar; Sharon Brown from Owensville; Jane Holt from Belton; Robbie Castile from Oak Grove; and Caroline McClung from Sikeston. Individuals can sign up for an account with as little as $25, and savings are tax-deferred.* To learn more about the MOST 529 Plan visit www.MissouriMost.org.
"When it comes to saving money for college, it's never too early to start," Treasurer Zweifel said. "This giveaway not only gave families a chance to win an important educational tool, but it encouraged parents and students alike to consider signing up with MOST to start making investments for higher education."
Also at the State Fair, Treasurer Zweifel's Unclaimed Property staff was available to help attendees search for and claim their Unclaimed Property. His team helped 657 Missourians find more than $81,000 in unclaimed assets during the fair.
"Since taking office, I've tried to streamline government services and connect with Missourians more efficiently and effectively," Treasurer Zweifel said. "The fair is a great opportunity for my Unclaimed Property team to answer questions and help reunite Missourians with their property."
Treasurer Zweifel currently holds more than $822 million to be returned to 4.8 million owner accounts. One in 10 Missourians has Unclaimed Property and the average return is $300. Individuals, businesses, nonprofits and local governments can search Treasurer Zweifel's Unclaimed Property online database 24/7 at ShowMeMoney.com. You can also sign up for email alerts when new property comes in matching your information. Treasurer Zweifel never charges money to return your Unclaimed Property.
About MOST 529
State Treasurer Clint Zweifel sponsors MOST 529, a 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 plan can be used towards 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 Missouri state income tax and married couples filing jointly may deduct up to $16,000 annually. Contributions to the Plan in a tax year are deductible from Missouri state income tax up to certain limits, but may be subject to recapture in subsequent years if you make a nonqualified withdrawal.
*The availability of tax or other benefits may be contingent on meeting other requirements
Investment returns are not guaranteed, and you could lose money by investing in the Plan.
Earnings on nonqualified 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.
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.
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.
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"). Ascensus Broker Dealer Services, Inc., and Ascensus Investment Advisors, LLC, serve as the Program Manager and Recordkeeping and Servicing Agent, respectively, with overall responsibility for the day-to-day operations. The Vanguard Group, Inc., serves as Investment Manager 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.
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