{"id":376,"date":"2021-08-10T16:17:33","date_gmt":"2021-08-10T16:17:33","guid":{"rendered":"https:\/\/www.upromise.com\/articles\/?p=376"},"modified":"2022-09-02T16:42:56","modified_gmt":"2022-09-02T16:42:56","slug":"new-yorks-529-advisor-guided-college-savings-plan","status":"publish","type":"post","link":"https:\/\/www.upromise.com\/articles\/new-yorks-529-advisor-guided-college-savings-plan\/","title":{"rendered":"New York’s 529 Advisor-Guided College Savings Plan"},"content":{"rendered":"\n

New York’s 529 Advisor-Guided College Savings Plan Details<\/h2>\n\n\n\n
Program Type<\/strong><\/td>Savings<\/td><\/tr>
Created<\/strong><\/td>2003<\/td><\/tr>
State Agency<\/strong><\/td>Office of the State Comptroller and the New York State Higher Education Services Corporation<\/td><\/tr>
Tax deduction<\/strong><\/td>For single filers $5,000\/yr
For joint filers $10,000\/yr<\/td><\/tr>
Program Manager<\/strong><\/td>Ascensus Broker Dealer Services, Inc.<\/td><\/tr>
Program distributor<\/strong><\/td>JPMorgan Distribution Services, Inc.<\/td><\/tr>
Maximum contributions<\/strong><\/td>Accepts contributions until all account balances in New York’s 529 plans for the same beneficiary reach $520,000.<\/td><\/tr>
Minimum contributions<\/strong><\/td>The minimum initial contribution is $1,000 per account. The minimum subsequent contribution is $25 per account.<\/td><\/tr>
E-gifting platform<\/strong><\/td>Yes<\/td><\/tr>
Enrollment or application fee<\/strong><\/td>None, but contributions may be subject to a sales charge depending on share class.<\/td><\/tr>
Account maintenance fee<\/strong><\/td>$25 annually for accounts with $25,000 or less.<\/td><\/tr>
Program management fee<\/strong><\/td>0.30% manager fee, plus distribution\/servicing fees of 0.25% (Class A), .90% – 1.00% (Class C), and None (Advisor Class)<\/td><\/tr>
Expenses of the underlying investments<\/strong><\/td>Ranges 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.<\/td><\/tr>
Total asset-based expense ratio<\/strong><\/td>Class A: 0.58% – 1.30%
Class C: 1.33% – 2.05%
Advisor Class: 0.33% – 1.05%<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

New York’s 529 Advisor-Guided College Savings Plan Contacts<\/h2>\n\n\n\n
Website<\/strong><\/td>http:\/\/www.ny529advisor.com\/<\/td><\/tr>
Telephone<\/strong><\/td>1-800-774-2108<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

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.<\/em><\/p>\n\n\n\n

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