Missouri State Treasurer Scott Fitzpatrick today announced that MOST, Missouri’s 529 Education Plan, has reached more than $4 billion in assets under management, a major milestone for the state’s 529 plan.
“As Treasurer, one of my most important jobs is helping Missourians prepare for their financial future,” Treasurer Fitzpatrick said. “Reaching $4 billion in education savings is a significant milestone for the MOST 529 plan and is a testament to the work of Missourians to save for the educational needs of their children. I’m proud of this achievement and look forward to continuing to promote the importance of saving and planning for the future.”
MOST, Missouri’s 529 Education Plan, is a tax-advantaged savings plan for education expenses. Money in MOST accounts can be used to pay for K-12 tuition, and trade, college, and graduate school tuition and expenses. Contributions are eligible for state tax deductions, which can save families up to $864 a year, and assets in MOST 529 accounts grow tax-free.
The plan currently has $4,025,257,418.59 in assets under management, an increase of over one billion dollars since Treasurer Fitzpatrick took office in January 2019. More than 180,000 Missourians are saving for education in the MOST plan, with over 30,000 accounts opened since 2019.