Solution for State-Sponsored Savings Plans

We understand and adapt to the needs of states as they help individuals save for college, disability-related expenses and retirement.

As the investments company for the world, BNY Mellon believes in making a difference by improving lives through investing. We pride ourselves on our commitment to the public sector. Through Sumday®, we offer a unique end-to-end program management solution that helps states administer and grow their 529 college savings, 529A ABLE and other public-sponsored savings plans.

Through our innovative digital user interface and time-tested capabilities across custody, record-keeping and other bedrock systems and service support, we offer a complete solution that’s ready to implement.

Features

  • User-Friendly Participant Experience

    With 529 college savings, 529A ABLE and other state-sponsored savings plans, people have a great way to invest for the future. We strive to make the participant experience as easy and intuitive as possible. Sumday’s digital user interface includes simple goal-setting features to promote saving. Plan participants can access their accounts through mobile or desktop devices.

  • Expertise and Support for Program Sponsors

    The Sumday team includes dedicated design and development professionals who work exclusively on publicly-sponsored savings plans. They collaborate with plan sponsors to launch, customize and maintain their plans—remaining highly responsive to client needs. Depending on the unique circumstances of each state, we also provide support to help states brand and market their plans.

    The Sumday program management team is accountable for the entire solution. States can count on a single point of accountability for service delivery, systems management and customer support.

  • Investment Advisor Services

    As part of our comprehensive and flexible approach, plan sponsors have the option to work with Lockwood®*, a BNY Mellon subsidiary that can advise state boards on the selection of investment funds and providers.

    *Lockwood Advisors, Inc. is an investment advisor registered in the United States under the Investment Advisers Act of 1940, an affiliate of Pershing LLC and a wholly owned subsidiary of BNY Mellon.  Pershing LLC, a member FINRA, NYSE and SIPC, is a wholly owned subsidiary of BNY Mellon.  

Events

ABLEtoSave graphic

Achieving a Better Life Experience (ABLE) accounts are a new financial savings tool for individuals with disabilities. In August 2017, as part of #ABLEtoSave's month-long awareness campaign, BNY Mellon sponsored a webinar detailing how funds in an ABLE account can be used.

News

Industry Recognition

BNY Mellon Sumday®, a program management solution for state-sponsored savings plans, has been awarded “Best New Product Overall” in Fund Intelligence’s 2017 Mutual Fund Service & Technology Awards.

The Mutual Fund Service and Technology Awards recognize the achievements of U.S. mutual fund providers including administrators, custodians, legal specialists, accounting groups and technology providers. Its best product awards draw fierce competition across the industry.

Sumday helps states administer and grow their 529 college savings, 529A ABLE and other public-sponsored savings plans. It delivers an end-to-end solution for individual end-users, investment advisors, and plan sponsors.

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