Employees may participate in a Section 529 savings program designed to provide a method for employees to save for the cost of education after high school. The University participates in the State of Missouri Section 529 Plan, which is called MOST (Missouri Saving for Tuition). The MOST program allows employees to set aside money for qualified higher education expenses such as tuition, fees and the cost of books, supplies and equipment, and with some limitations, the cost of room and board. Eligible educational institutions are accredited, postsecondary educational institutions offering credit towards a bachelor’s degree, an associate’s degree, a graduate level or professional degree or another recognized postsecondary credential, including certain proprietary institutions and postsecondary vocational schools and certain institutions in foreign countries. The funds in the MOST account may be used by any person designated by the employee as the beneficiary; there are no restrictions based on age, relationship to the employee, or residency.
Employees may open a MOST account with a minimum investment of $25. More information about the MOST program, including the tax advantages to Missouri residents, can be found online at: http://www.missourimost.org Enrollment kits are available in the Office of Human Resources.