SEED OK 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.

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:

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.

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.

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.

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.

Yes! There are many reasons why you should open an account.
• Save for your child’s education.
• Receive tax benefits. (See Disclosure Booklet.)

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.