PARSIPPANY, N.J. - New York Life Investment Management and State Street Corp.'s college planning unit have joined forces to introduce a college savings plan.
The CollegeSense 529 Higher Education Savings Plan is sold through New York Life's financial advisers in conjunction with State Street's Schoolhouse Capital LLC, the 529 plan manager for New Mexico, the companies said Tuesday.
CollegeSense is being distributed through N.Y. Life Distributors Inc., as well as through its network of broker-dealers and financial planners.
The program offers nine investment options including an age-based series, plus a series of asset allocation portfolios. The portfolios' funds are managed by New York Life Investment Management, State Street Global Advisors, and J.P. Morgan Fleming Asset Management.
