Missouri’s direct-sold 529 savings plan is managed by Ascensus College Savings and uses mutual funds from Vanguard. Missouri's advisor-sold plan closed in May 2016 and all assets were moved to the direct-sold plan.
Find out more about Missouri 529 plans by following the links below.
Missouri 529 Tax Benefit
Consumer plans fall under three categories: direct-sold, unit-type prepaid, and contract-type prepaid.
529 plans allow investors to purchase directly from the plan manager. You will have to rely on your own research to identify your best options, or you can hire a fee-based financial planner.
Direct-sold 529 plans are approved and monitored by each state and are managed by professional investment firms. There are no sales charges with these plans.
Unit-type prepaid plans allow you to buy 'units' of tuition which may equate to credits or hours.
Contract-type prepaid plans can be purchased to cover between 1 to 5 years of future tuition either on a lump sum or installment basis.
Missouri's 529 Education Plan (Direct-sold), managed by Ascensus College Savings, features three-age based options and 16 static portfolios with funds from Vanguard and Dimensional Fund Advisors. Accounts can be linked to the Upromise rewards service....
529 ABLE accounts allow americans living with disabilities to save money for college and other expenses in a tax-deferred account without affecting their eligibility to receive medicaid, supplemental security income or other public benefits.
The State of Missouri has partnered with the State of Ohio to create MO ABLE, a program that offers the STABLE Account Plan to eligible Missouri residents for lower annual investment fees than would otherwise be available.