New York Life and its subsidiaries have entered into a marketing partnership with Upromise.com. Upromise is an innovative service that works like a frequent flier program. It allows families to save for college while spending money with hundreds of participating companies, stores, catalogs and Web sites.
Click here for product and state eligibility.
How Upromise Works
Through Upromise, thousands of companies -- such as AT&T, McDonald's, GM, and New York Life -- contribute a portion of what is spent with them into a college savings account1 set up for a child. Even better, family and friends can also sign up and contribute to a child's savings account as they spend! That means parents don't have to shoulder the responsibility of saving for college entirely on their own. With Upromise, accumulated college savings can be invested into a 529 college savings plan.2 You can register for Upromise by clicking here. 
New York Life's Role
New York Life and its affiliates are the exclusive life insurance and annuities provider in the Upromise network of contributing companies. Every time Upromise members purchase a participating life insurance policy or New York Life variable annuity3, we'll deposit $25 for each life policy and $40 for each variable annuity into your Upromise savings account. Please click here for program details.
Scholar'sEdgeSM 529 Higher Education Savings Plan Added to Upromise
In addition to New York Life and its affiliates making a contribution to a Upromise account with the purchase of a participating life insurance or variable annuity policy, Upromise members can link their Upromise accounts to and invest their college savings funds in a Scholar'sEdge SM, 529 Higher Education Savings Plan. Once linked, all participating companies' contributions to a Upromise account can be easily transferable to the Scholar'sEdge 529 plan to help supplement your cash contributions to the 529 plan.
The Value of Our Registered Representatives
Upromise members may also receive information about the 529 plans available through the other participating companies. However, our professional registered representatives add value to this process by also bringing to the table a vast array of New York Life and subsidiary products that can help Upromise members meet a variety of financial needs and goals. Furthermore, they bring the kind of understanding and personal attention that can only come from the one-on-one interaction between a registered representative and their client.
How are Upromise Contributions Transferred to Scholar'sEdge
In order for Upromise contributions to be transferred to Scholar'sEdge, you must first have an account with Scholar'sEdge. Scholar'sEdge can be funded by an initial investment of $500. The minimum periodic contribution is $50 monthly or $150 quarterly.
Once a Scholar'sEdge account is opened, you can link it to your Upromise account at any time. The most direct way to do this is by:
The Scholar'sEdge 529 Higher Education Savings Plan is an IRC Section 529 college savings plan available to all U.S. residents and is sponsored by the Education Trust Board of New Mexico. Evergreen Investment Services, Inc., and Evergreen Investment Management Company, LLC are the program managers of the Scholar'sEdge plan. Some states offer favorable tax treatment or other benefits to their residents only if they invest in their state's own 529 plan. If you are not a resident of New Mexico, you should consider whether your state offers its residents a 529 plan with alternative tax advantages or other benefits before investing.
Scholar'sEdge and securities are distributed by Oppenheimer and NYLIFE Distributors LLC, 169 Lackawanna Avenue, Parsippany, New Jersey 07054
Please call 1.866.529.SENSE (1.866.529.7367) or visit www.scholarsedge529.com, for the Scholar'sEdge Disclosure Statement and Customer Agreement, and the prospectuses and fact sheets for the underlying investments. An investor should consider the investment objectives, risks, charges and expenses of a portfolio carefully before investing or sending money. The Disclosure Statement contains this and other information about the investment options and their underlying investments, respectively. Please read the Disclosure Statement carefully before investing or sending money.
Scholar'sEdge is a registered mark of Oppenheimer.
Please review your individual situation with an investment professional and/or tax professional to ensure this product is suitable for your individual objectives and circumstances. College savings plans offered by each state may differ significantly in investment options, fees, benefits and state tax implications.
NOT FDIC insured. No bank guarantee. May lose value.
1 Policies owned by corporations are not eligible for the Upromise contribution. Contributions can only be made to a valid Upromise college savings account established by a Upromise member who must be an individual person. All contributors will be held in a trust account with Upromise, Inc. for the benefit of Upromise members. Upromise, Inc. is not affiliate with New York Life or its subsidiaries
2529 Plans are offered through properly licensed Registered Representatives of NYLIFE Securities LLC (Member FINRA/SIPC).
3 Variable annuities are offered through NYLIFE Securities Registered Representatives and issued by New York Life Insurance and Annuity Corporation (A Delaware Corporation), and distributed by NYLIFE Distributors LLC Member FINRA/SIPC.
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