SEDALIA, Mo., Aug. 5 -- The Missouri State Treasurer issued the following news release:
State Treasurer Clint Zweifel (ZWY-ful) announced today that MOST-Missouri's 529 College Savings Plan will giveaway five Amazon Kindles at the State Fair. MOST 529 will draw a winner every other day of the Fair, which is open from Aug. 7 through 17.
"The State Fair is a great opportunity for Missourians to learn more about MOST 529 and I am excited to have the chance to share this program with fairgoers," Treasurer Zweifel said. "This giveaway will raise awareness for Missouri's college savings program and provide five families with a great educational tool as they prepare for the new school year."
Missourians can enter to win at the MOST 529 booth in the Agriculture Building from 9:00 a.m. to 9:00 p.m. each day of the fair. A winner will be drawn every other day of the fair beginning on Friday, August 8. Hundreds of Missourians entered last year's giveaway. More than $2 billion is invested in MOST 529 Direct Plan accounts by more than 130,000 account owners, both an all-time high.
To learn more about MOST 529, visit MissouriMost.org or call 888-414-MOST (888-414-6678). The MOST 529 Plan offers federal and state tax benefits, low costs and flexible ways to contribute.
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 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 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.
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.
Kindle is a trademark of Amazon.com, Inc., or its affiliates. Kindle devices are given away on behalf of MOST--Missouri's 529 College Savings Plan. Amazon is not a sponsor of this promotion.
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