I would like to begin this month's column with a heart felt thank you. On November 7, I was honored to be re-elected Kansas State Treasurer by the citizens of this great state. I am humbled by your trust and faith in my abilities and those of the dedicated public servants employed by the State Treasurer's office. During the next four years, I will work hard to retain your confidence by continuing to return Unclaimed Property, educating more Kansans on Financial Literacy and increasing the number of families invested in the Kansas 529 education savings program, Learning Quest.
In spite of the noisy election year, we have been hard at work! Recently my office announced that the Learning Quest contact, which was set to expire on Dec. 31, was again awarded to the current program manager, American Century Investments.
It was a long and difficult process, but after all the proposals were reviewed on their own merits and evaluated against each other, it was determined that American Century would continue to best meet the needs of the program's more than 93,000 account owners and combined assets of nearly $1.5 billion.
With the new contract come expanded investment options and lower fees that will help Kansans investing in Learning Quest accounts for their loved ones. In addition to the features of the new contact, Kansans will still be able to take advantage of the tax deduction of $3,000 for single ($6,000 married filing jointly), tax-free withdrawal of qualified educational expenses and varied investment options. I am proud of the accomplishments of Learning Quest and look forward to promoting this invaluable program to current and future investors across the state.
We are looking forward to four more exciting years. If there is anything my office can assist you with, please contact us at 785-296-3171 or visit www.KansasStateTreasurer.com.
