New York 529 College Savings Plans
New York has two 529 savings programs to choose from - a direct-sold plan featuring Vanguard mutual funds, and an advisor-sold program featuring funds from JPMorgan and SSgA. Both New York 529 plans are managed by Ascensus College Savings.
- Tax deduction for single filers$5,000/yr
- Tax deduction for joint filers$10,000/yr
New York's direct-sold 529 college savings plan is available to residents of any state. It offers low fees and diverse investment options featuring Vanguard mutual funds. New York residents may enjoy a state tax deduction for contributions to the plan....
Advisor Sold Plans
In May 2012 New York's 529 College Savings Program was renamed New York's 529 Advisor-Guided College Savings Plan. Ascensus Broker Dealer Services, Inc. (formerly Upromise Investments, Inc.) serves as Progam Manager but J.P. Morgan Investment Management replaced Columbia Management Group, LLC as the plan's Investment Manager. The plan features age-based, static asset-allocation, and single-fund portfolios utilizing mutual funds from JPMorgan and SSGA. Accounts can be linked to the Upromise rewards service....
NY ABLE is issued by New York Achieving a Better Life Experience (ABLE) Savings Account Program and administered by the Office of theComptroller of the State of New York, who serves as program administrator.