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Please read the Savings Match Terms for complete details.
The Savings Match was a SEED OK incentive for you to save for your child’s future. To have received this match, you must have opened your own Oklahoma College Savings Plan (Your Account). When you deposited money in Your Account, you may have been eligible for a $1 to $1 or $0.50 to $1 match. The match was placed in your child’s SEED OK Account.
If you open Your Account, your child will have two Oklahoma College Savings Plan accounts::
Who qualified for the Savings Match?
Savings Match eligibility was based on SEED OK treatment participants’ federal adjusted gross income. How much Savings Match you received depended on the deposits you made into Your Account.
If your adjusted gross income was less than $29,000, the largest match you were eligible to receive was $250 per year. For example, if you saved $250 or more in Your Account during 2008-2011, then you child's SEED OK Account was eligible to receive $250 per year.
If your adjusted gross income was $29,000 to $43,499, the largest match you were eligible to receive was $125 per year. For example, if you saved $250 or more in Your Account during 2008-2011, then your child's SEED OK Account was eligible to receive $125 per year.
What is my federal adjusted gross income?
Your federal adjusted gross income is an amount that you report to the Oklahoma Tax Commission when you file a State income tax return. The State used your income from earlier tax returns because more current records were not available when the Savings Match was calculated. For example:
If I was not required to file an Oklahoma Tax Return, could I have still qualified for the Match?
Yes. If you did not file an Oklahoma Tax Return because your income was below the amount required for filing in a given year, you could have qualified for the Savings Match, even if you received Food Stamps, Medicaid, or Temporary Assistance for Needy Families (TANF) benefits from the State in that same tax year. The Oklahoma Department of Human Services determined if you received these benefits.
What steps were required to have received the Savings Match (available during 2008-2011)?
1. Opened an Oklahoma College Savings Plan account for your child;
2. Completed, sign, and return the Match Eligibility Form to the State, and;
3. Saved money from birthdays, other gifts, or tax refunds in Your Account.
Why did I need to fill out and sign the Match Eligibility Form?
The State used this form to check if you qualified for the Savings Match. To protect your privacy, the Oklahoma Tax Commission and Department of Human Services may only release information to the State with your written permission. This form gives that permission.
When do I need to return the Match Eligibility Form?
The savings match ended in 2011. It is no longer necessary to return the Match Eligibility Form.
The savings match incentive was available from 2008 - 2011. During that time, when you deposit money in Your Account, your savings was matched in the next quarter. For example, if you saved money in Your Account in in August 2011, the Savings Match was deposited in your child's SEED OK Account between October and December 2011.
I did not receive the Savings Match. Should I open an account anyway?
Yes! There are many reasons why you should open an account.
• Save for your child’s education.
• Receive tax benefits. (See Disclosure Booklet.)What if someone else opened an account for my child? Could they get the Match?
The savings match incentive was available from 2008-2011. During that time, only you—the individual who completed the SEED OK Study phone interview—could have qualified to receive the Savings Match.
More Information for SEED OK Participants
- SEED OK: Investing in Your Child's Future - Learn how to save with the Oklahoma College Savings Plan and SEED OK
- Frequently Asked Questions - Find answers to common questions about SEED OK
- Parent Tools - Fun activities to help your child grow and develop
- Savings Match - Read complete details about the SEED OK Savings Match
- Forms - Download the Match Eligibility and Self-Certification forms, and other guides and documents
- Oklahoma College Savings Plan Home - Learn more about the OCSP
- Open an OCSP Account - Open an account and start saving for your child's future today
- Contact - Call these contacts if you have additional questions