New York’s 529 Advisor-Guided College Savings Plan

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New York’s 529 Advisor-Guided College Savings Plan Details

Program TypeSavings
Created2003
State AgencyOffice of the State Comptroller and the New York State Higher Education Services Corporation
Tax deductionFor single filers $5,000/yr
For joint filers $10,000/yr
Program ManagerAscensus Broker Dealer Services, Inc.
Program distributorJPMorgan Distribution Services, Inc.
Maximum contributionsAccepts contributions until all account balances in New York’s 529 plans for the same beneficiary reach $520,000.
Minimum contributionsThe minimum initial contribution is $1,000 per account. The minimum subsequent contribution is $25 per account.
E-gifting platformYes
Enrollment or application feeNone, but contributions may be subject to a sales charge depending on share class.
Account maintenance fee$25 annually for accounts with $25,000 or less.
Program management fee0.30% manager fee, plus distribution/servicing fees of 0.25% (Class A), .90% – 1.00% (Class C), and None (Advisor Class)
Expenses of the underlying investmentsRanges from 0.29% to 0.44% (portfolio weighted average) in the age-based and static multi-fund portfolios, from 0.03% to 0.75% in the individual-fund portfolios.
Total asset-based expense ratioClass A: 0.58% – 1.30%
Class C: 1.33% – 2.05%
Advisor Class: 0.33% – 1.05%

New York’s 529 Advisor-Guided College Savings Plan Contacts

Websitehttp://www.ny529advisor.com/
Telephone1-800-774-2108

While we are providing general information about the New York’s 529 plan, please consult the Plan Description and Participation Agreement for more detailed information and facts about the plan.

Senior program director of 529 plans, Derek, explains to Stacy how New York 529 direct plan works.

All State 529 Plans

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