Investment Option Changes
Changes to investment options can be made by:
- logging into the account online
- paper form
- calling NY ABLE toll-free at 855-5NY-ABLE (855-569-2253).
Should investment goals or needs change, NY ABLE allows the flexibility to move assets to different NY ABLE investment options. This can be done up to twice per calendar year. This reallocation of assets in the account is considered an investment exchange and is not subject to federal and state taxes, or to the 10% federal tax penalty.
If you’d like to move money from one Investment Option to another Option over a period of time you can do so by setting up a Systematic Exchange Program. To participate in the Systematic Exchange Program:
- There must be at least $500 in the Source Investment Option
- Contributions to the selected Target Investment Option(s) must be made in increments of no less than $50 on a monthly or quarterly basis.
If establishing a Systematic Exchange Program for a new contribution into the Account, it will not count towards the twice per calendar year investment exchange limit. However, if establishing a Systematic Exchange Program for money already in the Account or making changes to a Systematic Exchange Program already in place, it will count towards the annual exchange limit.
Call us at 1.855.5NY.ABLE (1.855.569.2253) Monday – Friday from 8 a.m. – 8 p.m. ET
New York State Relay System: 711 or 800-662-1220
No Guarantee: None of the State of New York, its agencies, Ascensus Investment Advisors, LLC, Ascensus Broker Dealer Services, Inc., nor any of their applicable affiliates insures accounts or guarantees the principal deposited therein or any investment returns on any account or investment option. Except to the extent of Federal Deposit Insurance Corporation (FDIC) insurance provided for the Checking Option, NY ABLE accounts will be subject to investment risks, including loss of the principal amount invested.
Investments are not FDIC-insured (Except for the Checking Option). No Bank, State or Federal Guarantee. May Lose Value.