privacy policy

The Arkansas 529 GIFT Plan Privacy Policy

The Arkansas 529 GIFT Plan (the “Plan”) is an education savings program sponsored by the State of Arkansas and administered by the Arkansas Section 529 Plan Review Committee. The Plan recognizes, respects and protects the personal privacy rights of all Plan account owners and beneficiaries (collectively, referred to herein as “Plan Participants”). The Plan is committed to providing the highest level of security and privacy regarding the collection and use of Plan Participants’ personal information.

Collection of Information. The Plan collects personal information about Plan Participants from enrollment forms, other forms, correspondence, and other communications. The information that the Plan may collect includes but is not limited to name, mailing address, email address, date of birth, telephone number, username, password, and gender. The Plan also collects information from Plan Participants’ transactions related to their accounts.

Use of Information. The Plan uses the information to fulfill Plan Participants’ requests for certain products and services related to the Plan, improve the Plan’s product and service offerings, troubleshoot problems, detect and protect against error, fraud, or other unauthorized activity, and other internal purposes related to administration of the Plan.

Disclosure of Information. The Plan does not disclose any personal information about current or former Plan Participants to third parties except as set forth herein, permitted or required by law or contract, or with Plan Participants’ consent. The Plan may disclose the personal information collected from Plan Participants to third parties as may be necessary to perform administrative, transactional, marketing services, and research for the Plan, or to provide services related to the Plan. These third parties are required to adhere to the Plan’s confidentiality requirements, and are only permitted to use the information provided for the limited purposes for which it was shared. Additionally, the Plan may disclose some of Plan Participants’ personal information with the Arkansas State Auditor’s Unclaimed Property program for purposes of reuniting Plan Participants with property to which the account owner may be the proper owner.

Protection of Information. The Plan maintains physical, electronic, and procedural safeguards to protect the personal information about Plan Participants that the Plan collects or uses. The Plan restricts access to personal information about Plan Participants to those individuals who have a need to know the information to serve the Plan Participants. It is important for account owners to keep their personal information accurate. Keeping Plan Participants’ personal information current is a vital concern to the Plan. To safeguard your account, please keep your account information and any account log-in information confidential.

Ascensus Broker Dealer Services, LLC serves as program manager and together with its affiliates (collectively, “Ascensus”) provides program management, recordkeeping, and customer service directly to the Plan Participants. Ascensus also maintains the Plan’s website. For information about Ascensus’ privacy practices and to access Ascensus’ policy please visit: https://www2.ascensus.com/privacy-management/.

Changes to Privacy Policy. The Plan reserves the right to change this Privacy Policy without notice at any time, and therefore encourages Participants to visit this page frequently to look for any updates and/or changes.

Arkansas Section 529 Plan Review Committee
1401 West Capitol Avenue, Suite 275
Little Rock, AR 72201
(501) 682-1406

Last Updated June 11, 2020.

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For more information about the GIFT College Investing Plan (the "GIFT Plan"), call 1.800.587.7301 or click here to obtain a Program Description and Participation Agreement, which includes investment objectives, risks, charges, expenses and other information; read and consider it carefully before making an investment or sending money. Ascensus Broker Dealer Services, LLC (“ABD”), the Program Manager, and its affiliates have overall responsibility for the day-to-day operations, including investment advisory services, recordkeeping, administrative services and marketing of the GIFT Plan.

Please Note: Before you invest, consider whether your or the beneficiary’s home state offers any state tax or other state benefits such as financial aid, scholarship funds, and protection from creditors that are only available for investments in that state’s qualified tuition program. You should also consult your financial, tax, or other advisor to learn more about how state-based benefits (or any limitations) would apply to your specific circumstances. You also may wish to contact directly your home state’s 529 college savings plan(s), or any other 529 plan, to learn more about those plans’ features, benefits, and limitations. Keep in mind that state-based benefits should be one of many appropriately weighted factors to be considered when making an investment decision.

The GIFT Plan is a college tuition savings program sponsored by the State of Arkansas and administered by the Arkansas Section 529 Plan Review Committee ("Committee"). ABD, the Program Manager, and its affiliates have overall responsibility for the day-to-day operations, including investment advisory services, recordkeeping, administrative services and marketing of the GIFT Plan. The GIFT Plan's Portfolios invest in: (i) mutual funds; or (ii) an FDIC-insured omnibus savings account held in trust by the Committee at Sallie Mae Bank. Except for the GIFT Plan Savings Portfolio, investments in the GIFT Plan are not insured by the FDIC. Units of the Portfolios are municipal securities and the value of units will vary with market conditions.

Investment returns will vary depending upon the performance of the GIFT Plan Portfolios you choose. Except to the extent of FDIC insurance available for the GIFT Plan Savings Portfolio, you could lose all or a portion of your money by investing in the GIFT Plan, depending on market conditions. Account Owners assume all investment risks as well as responsibility for any federal and state tax consequences.

Not FDIC-Insured (except for the GIFT Plan Savings Portfolio). No Bank, State or Federal Guarantee. May Lose Value.