Financial Wellbeing

529 education savings plans

For Kansas residents: Learning Quest Education Savings 529 account

It’s never too early to start planning for college. The earlier you invest, the better the chance your savings will grow over time. The health system makes it easy with the option to deposit part of your paycheck in 529 accounts for Kansas and Missouri residents.

Key features

Tax-deferred growth.
State income tax deduction – Kansas residents can deduct up to $3,000 in contributions from taxable income (up to $6,000 if married and filing jointly).
Tax-free withdrawals when used for qualified education expenses.
Use for two-year and four-year colleges, graduate schools, vocational/trade schools, registered apprentice programs and K-12 tuition.
More than just tuition. Pay for books, fees, computers, supplies, and room and board.
Repay student loans up to a $10,000 lifetime limit.
Managed by American Century Investments.
Choose from a variety of investment options including simple age-based tracks.

Getting started

You can enroll anytime of year:

Open an account at LearningQuest.com.
In the “Pick a Funding Method” section, choose “With Payroll Deduction.”
Using the provided Learning Quest account number and routing information, set up Direct Deposit using Workday. Instructions: 529 plan direct deposit tip sheet (PDF) (network access required).

For questions, including help to rollover an existing 529 plan, talk to a Learning Quest specialist at 800-579-2203, 8 a.m.-5 p.m. CT weekdays. Learn more at LearningQuest.com.

For Missouri residents: MOST – Missouri’s 529 Education Plan

Key features

Start with no minimum investment.
Tax-deferred growth.
State income tax deduction – Missouri residents can deduct up to $8,000 in contributions from taxable income (up to $16,000 if married and filing jointly).
Tax-free withdrawals when used for qualified education expenses. Use for two-year and four-year colleges, post-graduate programs, apprenticeship programs, post-secondary vocational/trade schools, registered apprentice programs and K-12 tuition.
More than just tuition. Pay for books, fees, computers, supplies, and room and board.
Repay student loans up to a $10,000 lifetime limit.
Choose from a variety of investment options to match your family’s goals and comfort level.

Getting started

You can enroll anytime of year:

Open an account at MissouriMOST.org. You may also download a paper application from the website.
Download the Payroll Direct Deposit Form. Fill out the form and mail it to the address listed. In the “Pick a Funding Method” section, choose “With Payroll Deduction.”
Once processed by Missouri MOST, a confirmation will be sent to the employee to provide to payroll for direct deposits from their paycheck. Using the provided Missouri MOST account number and routing information, set up Direct Deposit using Workday. Instructions: 529 plan direct deposit tip sheet (PDF) (network access required).

Learn more at MissouriMOST.org.