529 college savings plans.

New York Life offers assistance in enhancing your college savings through state-sponsored 529 plans. These plans allow tax-deferred growth and tax-free distributions for eligible educational expenses. You can invest in a 529 plan for a child's education, benefiting from deferred taxes on investment earnings and federal tax-free withdrawals for qualified expenses. Different state plans cover various educational costs, and NYLIFE Securities LLC offers access to 26 plans from different states.