NYLIFE Securities LLC

Automated resources

Electronic funds transfer (EFT)

Set up automatic, periodic transfer from your bank account or payroll to your NYLIFE Securities account. Your money collects interest in a money market account— until you are ready to invest it. Transfers can be made monthly, quarterly, or semiannually. This service is free of charge (not available on SIMPLE IRAs).

Periodic investment plan (PIP)

Invest assets from your money market account into the mutual funds of your choosing on a monthly, quarterly, or semiannually basis to take advantage of dollar-cost averaging. There is no additional fee for this service. (PIPs using dollar-cost averaging do not assure a profit or protect against loss in declining markets. This type of plan involves continuous investments in securities regardless of fluctuating price levels. Please consider your financial ability to continue purchases through periods of low price levels.)1, 2

Systematic withdrawal plan (SWP)

Liquidate shares of a mutual fund on a periodic basis and have proceeds “swept” into your money market account– monthly, quarterly, or semiannually.1

1Please note that mutual fund prices will vary depending on market conditions. Withdrawals and distributions are subject to income taxes and if taken prior to age 59½, a 10% federal penalty may also apply.

2Minimum investments will vary by fund and amount and should be verified with NYLIFE Securities prior to establishment to ensure that our platform minimums are met.