David McRae today announced the 2022 College Savings Mississippi Art Contest winners with a reception at the Mississippi Museum of Art. Twelve students and one teacher took home a combined $3,500 worth of scholarships during the event. “In these students’ artwork, we saw the beauty of their creativity, but also a snapshot of their dreams,” said McRae. “I am excited … Read More
McRae: Lock in today’s tuition rates
College costs have increased 160 percent since 1980. Today, between tuition, room and board, books, and other expenses, a college education typically costs families around $27,000 annually for a public, in-state university and $55,000 annually for a private education, according to a 2021 College Board report. As a result, most rely on hefty loans that take years – if not … Read More
McRae: Legislative Session Marked by Responsible Governance
At a time when federal policymakers, namely the Biden administration, seem to be making every wrong decision when it comes to the economy and families, Mississippi leaders are taking historic steps to put our state back on track. I want to applaud the legislature and Governor Tate Reeves in their work this legislative session. More specifically, state leaders deserve a … Read More
McRae Applauds Legislature for Allowing a Parent’s Unclaimed Money to Directly Satisfy Child Support Debts
Treasurer David McRae today applauded the Mississippi Legislature for allowing the State Treasury to use a parent’s unclaimed money to satisfy child support debts. The Treasurer also announced he has instructed his team to prioritize these returns to ensure children receive the money as quickly as possible. “When a parent fails to pay their child support, young people lose out … Read More
Treasurer McRae: In Major Reversal, MPACT Legacy Plan Rebounds to Near Full Funding
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