State treasurer announces change to college savings program

2 years 9 months 5 days ago Wednesday, February 10 2016 Feb 10, 2016 Wednesday, February 10, 2016 1:12:00 PM CST February 10, 2016 in News
By: Luisangel Rodriguez, KOMU 8 Digital Producer

JEFFERSON CITY - State Treasurer Clint Zweifel announced a new investment plan for families saving money for a child's college education.

It is designed to save costs for investments with MOST, Missouri's 529 College Savings Program.

The new five-year management agreement is with Ascensus College Savings.

Zweifel said it could save investors an estimated $9 million over five years.

Investments in the plan can be used towards 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.

"This is the second contract I have negotiated for MOST 529 as State Treasurer, and I am proud to have reduced fees for account owners by more than 60 percent since 2009," Zweifel said. "Beginning today, MOST investors will see immediate savings, and will soon have new investment options designed to suit their savings goals. MOST continues to be a national leader in helping families save for college."

Under the new contract, funds through the investment firm Dimensional Funds Advisors will be available through MOST 529. Zweifel said that's notable because DFA funds are generally only available to investors through financial advisors or institutional channels.

The MOST 529 Advisor Plan will be rolled into the MOST 529 Direct Plan. Zweifel said 15,300 account owners who have invested more than $227 million through their financial advisor will automatically see their investments transitioned in early May. Plan investors and advisors will receive additional information about this process in the coming weeks.

"The roll-up of the MOST 529 Advisor Plan puts college savers first," Zweifel said. "The MOST 529 Direct Plan is a national leader, and these changes will save families thousands and better serve those who invest for themselves or work with financial advisors. We are proud of these new options and look forward to the continued growth of MOST 529."

 

More News

Grid
List
NEW YORK (AP) — Jennie-O Turkey recalled packages of ground turkey in a salmonella outbreak, and regulators say additional products... More >>
42 minutes ago Friday, November 16 2018 Nov 16, 2018 Friday, November 16, 2018 10:58:02 AM CST November 16, 2018 in News
WASHINGTON, DC - The White House says it will "temporarily reinstate" the White House press credentials of CNN reporter Jim... More >>
2 hours ago Friday, November 16 2018 Nov 16, 2018 Friday, November 16, 2018 9:40:00 AM CST November 16, 2018 in News
MOBERLY - A pedestrian was struck and killed Thursday night on Highway 63 just south of Moberly, according to crash... More >>
6 hours ago Friday, November 16 2018 Nov 16, 2018 Friday, November 16, 2018 4:49:00 AM CST November 16, 2018 in News
COLUMBIA- Out-of-state vehicles around the University of Missouri are having their license plates stolen. It’s been happening in garages... More >>
16 hours ago Thursday, November 15 2018 Nov 15, 2018 Thursday, November 15, 2018 7:17:00 PM CST November 15, 2018 in News
CENTRALIA - Where would a man celebrating a half century of giving blood go to celebrate? Another blood drive... More >>
17 hours ago Thursday, November 15 2018 Nov 15, 2018 Thursday, November 15, 2018 5:55:00 PM CST November 15, 2018 in News
COLUMBIA- In a meeting this afternoon, Columbia City Manager Mike Matthes, apologized for the confusion surrounding the Columbia Police Department’s... More >>
18 hours ago Thursday, November 15 2018 Nov 15, 2018 Thursday, November 15, 2018 5:17:00 PM CST November 15, 2018 in News
COLUMBIA - A Columbia man is sentenced to 10 years in Federal prison for a 2017 armed bank robbery turned... More >>
18 hours ago Thursday, November 15 2018 Nov 15, 2018 Thursday, November 15, 2018 5:14:00 PM CST November 15, 2018 in Top Stories
JEFFERSON CITY - Jefferson City is looking for a municipal judge to fill a temporary position, starting January 1, 2019.... More >>
18 hours ago Thursday, November 15 2018 Nov 15, 2018 Thursday, November 15, 2018 5:13:00 PM CST November 15, 2018 in News
NEW YORK (AP) — Facebook said it's making progress on detecting hate speech, graphic violence and other violations of its... More >>
19 hours ago Thursday, November 15 2018 Nov 15, 2018 Thursday, November 15, 2018 3:53:00 PM CST November 15, 2018 in News
COLUMBIA - Employment providers, state agencies and employers serving people with disabilities across the state came together to learn how... More >>
20 hours ago Thursday, November 15 2018 Nov 15, 2018 Thursday, November 15, 2018 3:12:00 PM CST November 15, 2018 in News
JEFFERSON CITY - Ceres, the statue that stood on top of the State Capitol for 94 years, touched ground Thursday.... More >>
20 hours ago Thursday, November 15 2018 Nov 15, 2018 Thursday, November 15, 2018 2:48:00 PM CST November 15, 2018 in News
JEFFERSON CITY - A bronze statue called Ceres will spend the next year being cleaned and touched up for conservation... More >>
21 hours ago Thursday, November 15 2018 Nov 15, 2018 Thursday, November 15, 2018 2:30:00 PM CST November 15, 2018 in News
JEFFERSON CITY, Mo. (AP) — Missouri's unemployment rate has hit a tied record low. Data released Thursday from the... More >>
22 hours ago Thursday, November 15 2018 Nov 15, 2018 Thursday, November 15, 2018 12:56:00 PM CST November 15, 2018 in News
MAGALIA, Calif. (AP) — Cool weather helped fire crews gain ground Thursday against the nation's deadliest wildfire in a century,... More >>
23 hours ago Thursday, November 15 2018 Nov 15, 2018 Thursday, November 15, 2018 11:52:00 AM CST November 15, 2018 in News
BOONE COUNTY - Two buses carrying students and staff from Our Lady of Lourdes Interparish School was involved in a... More >>
1 day ago Thursday, November 15 2018 Nov 15, 2018 Thursday, November 15, 2018 10:01:00 AM CST November 15, 2018 in Top Stories
COLUMBIA - A judge ordered bond to be revoked Wednesday for a man charged in connection with an alleged conspiracy... More >>
1 day ago Thursday, November 15 2018 Nov 15, 2018 Thursday, November 15, 2018 7:47:25 AM CST November 15, 2018 in News
HUNTSVILLE - A judge sentenced a Moberly man to 18 years in prison after he pleaded guilty to child sex... More >>
1 day ago Thursday, November 15 2018 Nov 15, 2018 Thursday, November 15, 2018 7:35:37 AM CST November 15, 2018 in News
JEFFERSON CITY - The number of kids in need is growing, according to the only foster care and adoption association... More >>
1 day ago Thursday, November 15 2018 Nov 15, 2018 Thursday, November 15, 2018 6:20:00 AM CST November 15, 2018 in News
Columbia, MO
Broken Clouds 48°
12pm 43°
1pm 45°
2pm 48°
3pm 50°