4 / 5
Our rating
NY resident benefits
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. To find a financial advisor in your area, use the Directory of Financial Professionals.
Scores for each ratings category
3.83 / 5
Performance
4.14 / 5
Ease of Use
4.0 / 5
Savings Success
3.93 / 5
Program Delivery
Program type
Inception
State agency
Tax deduction
For single filers: $5,000/yr per beneficiary
For joint filers: $10,000/yr per beneficiary
Program manager
Program distributor
Manager contract term
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Who can be a participant/owner in the program?
Significant time or age restrictions imposed by the program:
Maximum contributions:
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Does the program offer an e-gifting platform for receiving gift contributions?
Investors in New York's 529 Advisor-Guided College Savings Plan can select from the following investment options. Click on a portfolio name for more information.
Portfolio | E.R. | % Equity | 1yr performance |
---|---|---|---|
JPMorgan 529 Age-Based 9-10 Portfolio | 0.92% | 75% | 5.24% |
JPMorgan 529 Age-Based 13 Portfolio | 0.89% | 55% | 5.44% |
JPMorgan 529 Age-Based 17 Portfolio | 0.82% | 25% | 5.41% |
JPMorgan 529 Age-Based 0-5 Portfolio (Aggressive) | 0.92% | 95% | 4.86% |
JPMorgan 529 Age-Based 11-12 Portfolio (Moderate) | 0.9% | 65% | 5.39% |
JPMorgan 529 Age-Based 6-8 Portfolio (Moderate Growth) | 0.92% | 85% | 5.19% |
JPMorgan 529 Age-Based 15-16 Portfolio (Conservative) | 0.84% | 35% | 5.36% |
JPMorgan 529 Age-Based 14 Portfolio (Conservative Growth) | 0.87% | 45% | 5.38% |
JPMorgan 529 Age-Based 18 Years and Over (College) | 0.78% | 20% | 5.17% |
Age-based/Enrollment Year investment options:
Static investment options:
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Underlying fund allocations:
Portfolio Fees & Performance Lookup
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Does breakpoint pricing include non-529 assets under rights of accumulation policies
Tax deduction for single filers:
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Program match on contributions:
State tax deduction or credit for contributions:
Find out how much you can save on state taxes this year by contributing to a New York 529 plan.
Married Filing Jointly
Household income
$100,000
Monthly Contribution
$100
State tax recapture provisions:
State definition of qualified expenses
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Does the sponsoring state exclude the value of an account for state financial aid purposes?
Does participation in the program provide beneficiaries with any advantages in qualifying for resident tuition status at state institutions?
Is there a rewards program or outside scholarship program that works with this program?
Statutory protection of an account from creditors:
To whom are distributions made payable:
Policy regarding participant/owner changes:
Does participant have online password-protected access to account?
Can the complete enrollment process including funding be done online?
Documents and other services accessible or downloadable on the program's public Web site:
Website:
Telephone:
Connect with a financial advisor in your local area
A good place to start:
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Saving For College is an unbiased, independent resource for parents and financial professionals, providing them with information and tools to understand the benefits of 529 college savings plans and how to meet the challenge of increasing college costs.