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MOST - Missouri's 529 College Savings Plan (Direct-sold)

Missouri

MOST - Missouri's 529 College Savings Plan (Direct-sold), managed by Upromise Investments since 2006, features three-age based options and 15 static portfolios with Vanguard funds. Accounts can be linked to the Upromise rewards service.

5-Cap Rating

Resident:
Non-Resident:

Savingforcollege.com's 5-Cap Ratings provides an evaluation and comparison of 529 plans, utilizing a formula that examines dozens of factors grouped into the following categories. (Scale 0 to 5; 5 is highest)

Performance Costs Features Reliability Resident Upgrade
2.90 3.80 3.13 4.30 0.15

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General

Program type:

Savings

How to enroll:

Enroll directly with the program. Enroll Now

Initial year of operation:

1999, but substantially changed in June 2006

State agency(ies):

Missouri Higher Education Savings Program Board

Program manager:

Upromise Investments, Inc.

Program distributor:

Vanguard Marketing Corporation

Manager contract term:

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Eligibility

State residency requirements:

None

Who can be a participant/owner in the program?

U.S. citizens and resident aliens who have a Social Security number or taxpayer identification number, UGMA/UTMA custodians, and legal entities.

Significant time or age restrictions imposed by the program:

None

Contributions

Maximum contributions:

Accepts contributions until all account balances in Missouri's 529 plans for the same beneficiary reach $325,000.

Minimum contributions:

$25, or $15 per pay period via payroll deduction.

Investment Options

Age-based investment options:

The Age-Based option is offered in 3 different risk levels (Aggressive, Moderate, and Conservative) each containing 5 portfolios of underlying mutual funds. Contributions are placed into the portfolio corresponding to the risk level selected and the number of years to expected enrollment, and later reassigned to more conservative portfolios as the beneficiary approaches college age.

Static investment options:

Select among 6 multi-fund portfolios and 9 individual-fund portfolios.

Underlying investments:

Vanguard mutual funds.

Underlying fund allocations:

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Investment performance link:

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Portfolio Fees & Performance Lookup

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Fees & Expenses

Enrollment or application fee:

None

Account maintenance fee:

$10 annually, waived for account owners or beneficiaries who are Missouri residents, by choosing electronic delivery for all plan documents, or for accounts with greater than $10,000.

Program management fees:

0.20% - 0.30%

Expenses of the underlying investments:

0.02% - 0.36%

Total asset-based expense ratio:

0.29% - 0.62%

Taxes and other Benefits

Program match on contributions:

Beginning in 2012, a matching grant is available for eligible applicants who are Missouri residents and who have opened a plan account for a beneficiary 13 years old or younger who is also a Missouri resident. The matching rate is dollar for dollar up to a maximum of $500 per beneficiary with a lifetime maximum of $2,500 per beneficiary. The applicant must be an account owner who is a parent or legal guardian of the beneficiary and the account owner's household Missouri adjusted gross may not exceed $74,999. Applications for matching grants must be submitted each year between June 1 and June 30. A total of $500,000 in matching grants is available over four years, and each year's $125,000 allocation is awarded on a first come first serve basis, with any unused amounts added to the following year.

State tax deduction or credit for contributions:

Contributions to Missouri AND non-Missouri 529 plans of up to $8,000 per year by an individual, and up to $16,000 per year by a married couple filing jointly, are deductible in computing Missouri taxable income. Only contributions made by the account owner are deductible, except for spouses filing a joint return. Rollover contributions are not deductible. Contribution deadline is December 31 postmark.

Value of in-state tax benefits:

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State tax recapture provisions:

The principal portion of nonqualified withdrawals from this plan are included in Missouri taxable income to the extent of prior Missouri tax deductions.

State tax treatment of qualified distributions:

Qualified distributions from Missouri and non-Missouri 529 plans are exempt.

State tax treatment of rollovers:

Missouri follows federal tax-free treatment for rollovers.

Does the sponsoring state exclude the value of an account for state financial aid purposes?

Yes

Does participation in the program provide beneficiaries with any advantages in qualifying for resident tuition status at state institutions?

No

Does the program have a formal agreement with a rewards program or outside scholarship program?

Yes, with the Upromise rewards service.

Statutory protection of an account from creditors:

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Distributions & Terminations

To whom are distributions made payable:

Eligible educational institution or account owner, as directed by the account owner.

Account Changes

Policy regarding participant/owner changes:

Accepts requests to transfer account ownership.

Documents, Access & Reporting

Does participant have online password-protected access to account?

Yes

Can the complete enrollment process including funding be done online?

Yes

Documents and other services accessible or downloadable on the program's public Web site:

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Contact

Web site:

visit Enroll Now

Telephone:

1-888-414-6678

Plan News

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