Treasurer Moves to Expand MOST Investment Options

The state is opening up the number of choices in the Missouri Savings for Tuition program – better known as MOST. The program allows investors to set aside a certain amount of tax-free money for college costs and gives a tax deduction of up to $8,000 a year while investing in MOST. State Treasurer Sarah Steelman says, in May, there will be a new program manager that will increase the number of direct investment choices from three to 18, and up to 22 for advisor-based investments. Steelman says the increased number of choices should allow investors more flexibility in how they invest, whether it is a high-risk, aggressive growth fund or a more conservative fund for those on a fixed income. And, Steelman has gotten lower fees for the program and even a “loyalty” option that applies a portion of everyday purchases to the amount saved. She hopes this will allow more investors into the tax-free program.