It’s an investment account designed to help families save for education.
Most states sponsor their own 529 plan, often with special benefits for state residents.
Easy to start. Easy to save.
- Open an account. There’s no minimum to start.
- Make saving automatic. Set up recurring contributions right from your bank account.
- Contribute at work. Sign up for payroll direct deposit and contribute as little as $1 per pay period.
Every dollar saved on fees matters, too.
With MOST 529, you’ll pay a low total annual asset-based fee per investment option that ranges from 0.17% to 0.42%, depending on the portfolio(s) you choose.
Answers to recently asked questions:
Can a MOST account be used for self or spouse, or only children?
- A 529 plan can be opened for anyone – including yourself. Beneficiaries can be children, grandchildren, spouses, friends, etc. The key is the account holder must be at least 18. If an account is opened for yourself, you will be the account owner AND the beneficiary.
Since the money is invested, is there is a chance of loss?
- Money placed into a 529 plan is invested in the stock market. Therefore, there is risk and money is not guaranteed. However, when opening an account, you will be able to select the investments. There are investments for all risk levels. MOST offers managed portfolios that move to more conservative funds overtime and have individual portfolios that the account owner can manage, including short-term reserve funds where the goal is to preserve principal and not earn income. All of the investment information can also be found on the website and includes information on investment strategy/objective/risks/price/historical returns.
Do I have to wait to withdraw funds?
- Deposited money can be withdrawn once it clears the bank (typically 7-10 business days). Families will often utilize quick withdraw if they are using a 529 plan for current pay, such as private school tuition or if they are currently paying for college. The rationale for this quick withdraw is for the tax deduction purposes rather than growth through investment.
Does a MOST account only cover college expenses?
- In 2018, tuition for private, public, and religious elementary and secondary schools was added to the list of qualified MOST 529 expenses allowing participants to withdraw up to $10,000 per year from your MOST 529 account tax-free to pay for K-12 tuition.