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.

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.