Your Investment Options Clause Samples

Your Investment Options. Your Investment Options (page 29) In this section, you will find information about your Investment Options, including a discussion of the Age-Based Investment Option, the Asset Allocation Investment Option and the Individual Portfolio Investment Option. • You can choose the Age-Based Option, which automatically moves your assets to progressively more conservative Portfolios as your Beneficiary approaches college age. • You can choose from among the six Asset Allocation Portfolios that invest in asset allocations based on your risk tolerance. • You can choose from among sixteen Individual Portfolios that allow you to build or customize your own asset allocation model. You should consider the information carefully before choosing to invest in one or more of these Investment Options. You may change your Investment Options for balances currently in your Advisor-Guided Plan Account up to two times per calendar year or if you change your Beneficiary. You can apply new contributions to your existing Portfolio selections or to new Portfolios. This section summarizes some of the federal and New York State tax consequences of investing in the Advisor-Guided Plan. However, this is not an exhaustive discussion and is not intended as individual tax advice. The section summarizes the administration of the Advisor-Guided Plan. • The Trust—a statutory trust created by the New York State Legislature specifically for the purpose of holding and investing the Program’s assets. • The Program—The New York State College Choice Tuition Savings Program, which consists of the Direct Plan and the Advisor-Guided Plan. • Program Administrators—The Comptroller and HESC. • Program Manager—Ascensus Broker Dealer Services, LLC. • Investment Manager—▇.▇. ▇▇▇▇▇▇ Investment Management Inc. (JPMIM). • Custodian—The Bank of New York Mellon. This section contains information about which parties may request your personal information, who is responsible for maintaining that information, and how the Advisor-Guided Plan will use your personal information. In this section you will learn about the rights and obligations associated with your Account, considerations related to changes in your Account, and state and federal laws. This section provides definitions of terms contained in this Disclosure Booklet. Note that terms defined in the Glossary (other than you, we, our, and us) appear with initial capital letters when referenced in this document. New York’s College Savings Program Advisor-Guided Pla...

Your Investment Options. Pricing of Portfolio Units and Trade Date Policies.) During periods of market volatility and at year-end, withdrawal requests may take up to five business days to process. Certain Contributions will not be available for withdrawal for seven business days. Withdrawals will be held for nine business days following the change of mailing address if the Account Owner requests that the proceeds are to be sent by check to the new address. The nine-day hold does not apply to checks sent directly to the Eligible Educational Institution. Withdrawals by ACH will not be available for 15 calendar days after bank information has been added or edited. A New York Qualified Withdrawal can be paid by check to the Account Owner or Beneficiary, via ACH to the Account Owner or by check directly to an Eligible Educational Institution. We will pay the proceeds of a Federal or New York Non-Qualified Withdrawal and withdrawals due to the death or Disability of, or receipt of a Qualified Scholarship or attendance at a Military Academy by, a Beneficiary only by check or ACH payable to the Account Owner. Please allow 7–10 business days from the date your withdrawal is processed for your distributions to reach you, the Beneficiary, or the Eligible Educational Institution, as applicable. In keeping with HESC’s mission to help students pay for college, you may also request that HESC transfer your New York Qualified Withdrawal to your Beneficiary’s Eligible Educational Institution. If you request that HESC transfer the withdrawal, we will transfer funds to HESC, and HESC, in turn, will transfer the withdrawal to the applicable Eligible Educational Institution. Please allow two to three weeks for this process. When making a withdrawal from an Account whose assets are invested in more than one Portfolio, you must select the Portfolio(s) from which your funds are to be withdrawn. If you do not designate a particular Investment Option or Options, the withdrawal will be taken proportionately from each of your existing Investment Options. Although we will report the earnings portion of all withdrawals as required by applicable federal and state tax law, it is solely the responsibility of the person receiving the withdrawal to calculate and report any resulting tax liability. Proceeds from your Account may be used to pay for Qualified Higher Education Expenses including tuition, fees, books, and reasonable room and board expenses. Withdrawals are classified by the IRS and the State of New York ...

Your Investment Options. Pricing of Portfolio Units and Trade Date Policies. Contributions to your Account by a third party are generally not deductible from New York State taxable income by you or the third party. Also, contributions are not includable in computing the New York State taxable income of your Beneficiary for New York State personal income tax purposes. Please contact the DTF to see if the contribution qualifies for a deduction.