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MOST - Missouri's 529 College Savings Plan (Direct-sold)
Missouri
In June 2006, Upromise Investments took over from TIAA-CREF as program manager and changed the investment options (except for the Guaranteed Option) from TIAA-managed portfolios to portfolios managed by The Vanguard Group and American Century Investments. The program now features three-age based options and 14 static portfolios not including the Guaranteed Option which remains open only for existing investments.
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General
Did you know?
Residents are not limited to investing in their own State's plan. Another state may offer a plan that performs better and has lower fees. If there is no tax break offered for in-state investors... shop around!
Also, the plan chosen does not affect which state the student enrolls in. An investor can live in NY, invest in a plan from NV and send a student to college in FL.
Program type:
Savings
How to enroll:
Enroll directly with the program.
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:
Upromise Investments, Inc.
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, 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 $235,000.
Minimum contributions:
$25, or $15 per pay period via payroll deduction
Investment Options
Age-based investment options:
The Age-Based option is offered in three different risk levels (Aggressive, Moderate, and Conservative) each containing five 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 7 multi-fund portfolios and 7 individual-fund portfolios.
Underlying investments:
Vanguard and American Century 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:
None
Program management fees:
0.55% manager fee for portfolios containing only Vanguard funds; 0.55% to 1.58% for portfolios containing American Century funds or a blend of American Century and Vanguard funds. Fees includes underlying fund expenses.
Expenses of the underlying investments:
Not applicable, included in asset-based management fee.
Total asset-based expense ratio:
0.55% - 1.58%
Taxes and other Benefits
Program match on contributions:
None
State tax deduction or credit for contributions:
Contributions to any Missouri or non-Missouri 529 plan of up to $8,000 per year ($16,000 per year for 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:
Missouri law specifically exempts qualified distributions from Missouri and non-Missouri 529 plans.
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:
Premium subscription required for this data.
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:
Premium subscription required for this data.
Contact
Telephone:
1-888-414-6678
Web site:
Plan News
- MOST - Missouri's 529 College Savings Plan (Direct-sold) lowers fees (07/13/2010)
- Missouri 529 to change underlying fund allocations (06/04/2008)
- Article: Changes to MO$T give more options (06/08/2006)
- Missouri MO$T to switch from TIAA-CREF to Upromise (01/05/2006)
State News
- Missouri removes 12-month minimum holding period on 529 funds (06/15/2010)
- SEC denies request for "no action" on Missouri bank 529 (08/20/2008)
- Missouri extends tax break to non-Missouri 529s (07/14/2008)
- Missouri adopts 12-month holding period for 529 plan contributions (07/20/2006)
- Missouri Treasurer proposes matching grants for 529 participants (04/24/2006)
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