FAQs: How your MOST 529 Advisor Plan is changing

Changes effective May 6, 2016:
Conversion to MOST 529 Direct Plan

How will my MOST 529 account be affected by this conversion?

If you signed up for the MOST 529 Plan through a financial advisor (MOST 529 Advisor Plan), your account is being moved to the MOST 529 Direct Plan, which means you'll now be able to interact directly with MOST 529 Plan representatives.

What is the reason for this conversion?

The Missouri Higher Education Savings Program Board is closing the MOST 529 Advisor Plan, effective May 2016. All account assets and records in the MOST 529 Advisor Plan will be automatically transferred to MOST 529 Direct Plan after the close of business on May 6, 2016.

How will my money move?

After the close of business on Friday, May 6, 2016, your assets in the MOST 529 Advisor Plan will be automatically moved to the MOST 529 Direct Plan investment options that most closely match your MOST 529 Advisor Plan investments. Your future contributions will also be directed to these new investment options based on how your assets are currently allocated or any recent allocation instructions you may have provided. You don't need to do anything.

If I have money in a MOST 529 Advisor Plan portfolio, which MOST 529 Direct Plan portfolio will it move to?

Your money will move from here …

To here …

Aggressive ETF Portfolio

Vanguard Aggressive Growth Portfolio

Moderate ETF Portfolio

Vanguard Moderate Growth Portfolio

Conservative ETF Portfolio

Vanguard Income Portfolio

Deutsche Equity 500 Index Portfolio

Vanguard Total Stock Market Index Portfolio

Deutsche Capital Growth Portfolio

Vanguard Total Stock Market Index Portfolio

American Funds American Mutual Portfolio

DFA U.S. Large Cap Value Portfolio

Deutsche Large Cap Value Portfolio

DFA U.S. Large Cap Value Portfolio

Columbia Mid Cap Index Portfolio

Vanguard Total Stock Market Index Portfolio

Columbia Small Cap Index Portfolio

DFA U.S. Small Cap Portfolio

Deutsche Small Cap Value Portfolio

DFA U.S. Small Cap Portfolio

Templeton Growth Portfolio

DFA International Core Equity Portfolio

T. Rowe Price International Growth & Income Portfolio

DFA International Core Equity Portfolio

Scout International Anti-Terror Portfolio

Vanguard Total Stock Market Index Portfolio

Deutsche Money Market Portfolio

Vanguard Interest Accumulation Portfolio

PIMCO Total Return Portfolio

Vanguard Total Bond Market Index Portfolio

American Century Government Bond Portfolio

Vanguard Total Bond Market Index Portfolio

American Century Inflation-Adjusted Bond Portfolio

Vanguard Total Bond Market Index Portfolio

INVESCO Van Kampen Equity and Income Portfolio

Vanguard Moderate Growth Portfolio

When will the transition between the MOST 529 Advisor Plan portfolios and the MOST 529 Direct Plan portfolios begin?

In anticipation of the closing of the MOST 529 Advisor Plan, the Plan will stop accepting all contributions and new enrollment applications, including contributions made through recurring contributions (also known as automatic investment plan or AIP), payroll direct deposit, Ugift, and the Upromise service on February 29, 2016, beginning at the close of the New York Stock Exchange (generally 3 p.m., Central time). The Plan will return or reject contributions and enrollment applications received after that time.

What is the transition timeline?

Key dates

Action

Monday, February 29, 2016

Cutoff time

Contributions and new enrollment applications received after the close of the New York Stock Exchange (generally 3 p.m., Central time) will be rejected or returned.

Thursday, May 5, 2016 (3 p.m., Central time), through Monday, May 9, 2016 (7 a.m., Central time)

Blackout period

You won't be able to request any transactions, including withdrawals, rollovers out of the Plan, or exchanges between investment options. You also won't be able to initiate or request other changes to your account during this time. Online account inquiry access won't be available.

Friday, May 6, 2016, through Monday, May 9, 2016

Transfer of assets and records

Account assets and records will be transferred from the MOST 529 Advisor Plan to the MOST 529 Direct Plan.

You won't have access to your account during this time.

Monday, May 9, 2016

Transaction or other account requests received from Thursday, May 5, 2016, at 3 p.m., Central time, through Friday, May 6, 2016, at 3 p.m., Central time, will be processed using portfolio net asset values of the MOST 529 Direct Plan as of Friday, May 6, 2016.

Monday, May 9, 2016

Information about your MOST 529 Direct Plan account will be available on missourimost.org or by calling 888-414-6678.

How will I know that my assets were transferred successfully?

You'll receive a closing statement from the MOST 529 Advisor Plan and an opening statement from the MOST 529 Direct Plan.

Will this transition count toward my two annual exchanges?

No. Federal law permits you to move existing 529 plan account assets to a different mix of investment options up to two times within a calendar year—or whenever you change the beneficiary of your account. Because this transition is initiated by the Plan, it won't be considered as one of your two permitted annual exchanges.

Where can I learn more about the MOST 529 Direct Plan investment options?

To learn more about MOST 529 Direct Plan portfolios, go to the Individual portfolios page on this site.

To learn more about the underlying DFA mutual funds, visit us.dimensional.com.

What if I don't like the investment option that my money is transferred to?

You may move some or all of your investments to any other portfolio before or after the transition. Just remember that any changes that you make will count toward your two permitted annual exchanges. (If you’ve already used your two exchanges for 2016, you won’t be able to make any others.)

Do I need to make changes to my recurring contributions (also known as automatic investment plan or AIP) as a result of the conversion?

No. If you currently contribute to the MOST 529 Advisor Plan using recurring contributions, those contributions will be automatically stopped on March 1, 2016, and then resume being made to your MOST 529 Direct Plan account starting on May 9, 2016.

Do I need to make updates to my payroll direct deposit instructions as a result of the conversion?

Yes. If you currently contribute to the MOST 529 Advisor Plan using payroll direct deposit, your payroll direct deposit will be automatically stopped on March 1, 2016. It won't automatically resume. You'll receive instructions on how to resume these contributions after the transition.

Will my Ugift code carry over to my new MOST 529 Direct Plan account after the transition?

No. If you have an existing Ugift code for your beneficiary, the code won't carry over to your new MOST 529 Direct Plan account. You'll be able to request a new Ugift code for your MOST 529 Direct Plan account.

Will the link between my Upromise Rewards account and my MOST 529 Advisor Plan account carry over to my new MOST 529 Direct Plan account?

Yes. If you're signed up with Upromise and have a Upromise account linked to your MOST 529 Advisor Plan account, that link will carry over, and your earnings going forward will go into your MOST 529 Direct Plan account.

Will I receive a new account number?

Yes. Your new MOST 529 Direct Plan account number will be included on the opening statement you'll receive after the transition.

Will I have to reregister for web access?

Yes. Due to enhanced security measures, all account owners will need to reregister for online account access. If you're currently registered for online account access, your logon credentials won’t work after the transition. You can reregister beginning May 9, 2016. The process should take just a few minutes using the easy, onscreen instructions you'll find at missourimost.org.

Will my financial advisor still have access to my account after the transition?

No. Your financial advisor won't automatically have access to your new MOST 529 Direct Plan account. However, you can request that your financial advisor continue to have inquiry access to your account.

What if I already have a MOST 529 Direct Plan account?

If you have an existing MOST 529 Direct Plan account with the same account owner and beneficiary as you have with the MOST Advisor Plan, the asset balance from your MOST 529 Advisor Plan account will be added to your MOST 529 Direct Plan account.

If you have an existing MOST 529 Direct Plan account for a different beneficiary but with the same account owner, a new MOST 529 Direct Plan account will be opened under the same main account number as your existing MOST 529 Direct Plan account, but with a new extension, such as -02.

What if I don't want my account transferred to a MOST 529 Direct Plan account?

Speak to your financial advisor about other options. As a reminder, you can perform any transactions related to your account, including rollovers and withdrawals (other than new contributions) until the blackout period begins on Thursday, May 5, 2016, at 3 p.m., Central time.

Is there a dedicated support line for financial advisors following the conversion?

Yes. Financial advisors can reach a plan representative by calling 866-834-9674.