State Treasurer David McRae today announced the Mississippi Prepaid Affordable College Tuition (MPACT) Legacy Plan has rebounded to near full funding, a major reversal from prior expectations. When Treasurer McRae entered office in 2019, the Legacy Plan had a 72 percent funding ratio, leaving taxpayers on the hook for more than $125 million. Today, the plan is funded at 91 … Read More
McRae Applauds Legislature for Championing Taxpayer Interests
Treasurer David McRae today applauded the state legislature for championing taxpayer interests during this year’s legislative session. McRae specifically highlighted their work in delivering the largest tax cut in state history and declining to pass an annual bond bill, all while increasing teacher pay above the southeastern average and creating the Mississippi Outdoor Stewardship Trust Fund. “I want to applaud … Read More
McRae: It’s never too early to save for retirement
Have you started saving for retirement? If you are over 60 and reading this, the answer is probably yes (or at the very least, you’ve considered it). If you are over 40, the answer might be closer to maybe. But if you’re under 40, chances are your focus has been on buying a home, raising your family, and not yet … Read More
McRae: April is Financial Wellness Month
According to a national survey only about 20 percent of adults have participated in any form of formal financial education. It’s not surprising then that less than half of working men and women demonstrated basic financial wellness skills in a different study. That’s why every April we celebrate Financial Wellness Month to increase awareness of the need for financial education, … Read More
McRae: Divesting from Russian Investments to Support Ukraine
The Russian invasion of Ukraine is a threat to democratic freedoms and global stability. It cannot be tolerated, which is why we’ve seen the world pull together in support of the Ukrainian people. Your State Treasury is no different. We too are working within our jurisdiction to support U.S. efforts to target Russia’s economy and weaken Putin. Recently, I joined … Read More
McRae: College Savings Mississippi Survey Reveals Challenges
Your State Treasurer’s office administers two college savings plans designed to help Mississippians save for college. MACS is the Mississippi Affordable College Savings Plan which allows families to save for college starting with as little as $25. MPACT is the Mississippi Prepaid Affordable College Tuition Plan which allows families to prepay college tuition to lock in today’s rates and avoid … Read More
New Poll: Most Parents Want to Help Pay for College, but Many Have Yet to Start
State Treasurer David McRae today released a new poll regarding college savings in Mississippi. The survey found that while most parents (69%) want to help pay for their child’s college, the majority (58%) have yet to begin saving. “Today, most Mississippians graduate college $30,000 in debt,” said Treasurer McRae. “Understanding this, it’s no wonder why many parents are trying to … Read More
McRae Joins State Treasurers in Condemning Russia
State Treasurer David McRae today joined the National Association of State Treasurers (NAST) in condemning Russia’s invasion of Ukraine, saying: “The National Association of State Treasurers condemns Russia’s invasion of Ukraine, a sovereign democratic country. The Russian invasion is a threat to the people of Ukraine, to democratic freedoms, and to global and national economic stability that cannot be tolerated. … Read More
Shoot and Score a Scholarship
For many Mississippians, sports can be the motivation and the means through which they achieve their college dreams. But sports scholarships can be hard to come by, and most families can’t afford to rely on such good fortune. College Savings Mississippi, however, empowers you to plan ahead, and we’re using this weekend’s state basketball championship games to assist families in … Read More
McRae: ABLE to Save
Today, more than 50 million Americans – including thousands in Mississippi – live with a disability. In addition to the varied challenges that come by having a disability, financial stability remains an issue for far too many. According to the National Disability Institute, about one in four working-age people with disabilities live in poverty compared to one in 10 of … Read More