Products December 17, 2003

NYLIM Spiffs Up CollegeSense 529 Product

December 17, 2003 (PLANSPONSOR.com) - New York Life Investment Management LLC (NYLIM) has retooled its CollegeSense 529 to enhance its 529 rollover feature and set up systematic exchanges to reallocate participant accounts over time.
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CollegeSense’s enhanced its rollover feature with the introduction of trustee-to-trustee transfers and a sales charge waiver on qualifying rollovers through April 15.   Thus, investors who would like to make a change in their 529 investment program can roll their 529 account assets into CollegeSense without paying a sales charge, according to a news release.

CollegeSense investors can now set up systematic exchanges to reallocate their accounts over time.   Among the systematic exchange capabilities available to CollegeSense investors:

  • the ability to exchange among any of the investment options, including into or out of an age-based investing strategy
  • flexible monthly or quarterly exchange intervals
  • the ability to specify stop dates, making the exchange process ongoing or finite at the investor’s choosing.

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