KANSAS CITY — Missouri Treasurer Clint Zweifel says a new deal for administration of the state's 529 college savings plan will save investors $18.5 million over five years.
Zweifel says a 44 percent decrease in administrative costs is the biggest drop ever for the 12-year-old college savings plan. He says the plan has the fifth-lowest cost in the nation.
The five-year management deal with Upromise Investments also includes a $500,000 financial assistance package, though details of who will be eligible have not been worked out.
A spokesman for Zweifel says investors in the MOST 529 plan will save about $25 in administrative fees per year for every $10,000 they have in their account.