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Franklin Templeton 529 College Savings Plan

New Jersey

New Jersey Franklin Templeton 529 College Savings Plan is an advisor-sold 529 savings program managed by Franklin Templeton featuring age-based and static portfolio options utilizing mutual funds and/or ETFs along with a stable value option. To find a financial advisor in your area, use the Find a 529 Pro Directory.

5-Cap Rating

Resident:
Non-Resident:

Savingforcollege.com's 5-Cap Ratings provides an evaluation and comparison of 529 plans, utilizing a formula that examines dozens of factors grouped into the following categories. (Scale 0 to 5; 5 is highest)

Performance Costs Features Reliability Resident Upgrade
4.07 2.60 3.40 4.20 0.43

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General

Program type:

Savings

How to enroll:

Enroll through a financial advisor. Find a Professional

Initial year of operation:

2003

State agency(ies):

New Jersey Higher Education Student Assistance Authority (HESAA)

Program manager:

Franklin Templeton Distributors, Inc.

Program distributor:

Franklin Templeton Distributors, Inc.

Manager contract term:

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Eligibility

State residency requirements:

None

Who can be a participant/owner in the program?

Individuals of legal age, trusts, corporations, and other legal entities. Account owners must provide a Taxpayer Identification Number.

Significant time or age restrictions imposed by the program:

None

Contributions

Maximum contributions:

Accepts contributions until all account balances in New Jersey's 529 plans for the same beneficiary reach $305,000.

Minimum contributions:

With lump-sum contributions, the minimum initial contribution is $250 per investment option, and the minimum subsequent contribution is $50. With the automatic investment plan, the minimum contribution level is $50 per month.

Investment Options

Age-based investment options:

The Age-Based Investment Portfolios option offers the choice of 3 risk levels: Growth, Moderate, and Conservative. Each consists of 4 portfolios of underlying mutual funds. Contributions are placed into the portfolio corresponding to the beneficiary's age, and later reassigned to more conservative portfolios as the beneficiary ages.

Static investment options:

Select among 5 multi-fund portfolios, (Franklin Founding Funds, Franklin Growth Allocation, Franklin Corefolio, Franklin Growth & Income Allocation, and Franklin Income Allocation), 9 individual-fund portfolios, and a stable value portfolio.

Underlying investments:

Franklin Templeton mutual funds, a Franklin Templeton stable value portfolio and possibly ETFs.

Underlying fund allocations:

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Investment performance link:

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Portfolio Fees & Performance Lookup

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Fees & Expenses

Enrollment or application fee:

None, but contributions may be subject to a sales charge depending on share class.

Account maintenance fee:

None

Program management fees:

0.25% manager fee, plus distribution/servicing fees of 0.25% (Class A), or 1.00% (Classes B and C); none for Franklin Money Portfolio.

Expenses of the underlying investments:

Ranges from 0.14% to 0.84% (portfolio weighted average) in the age-based and objective-based portfolios, and from 0.07% to 0.98% in the individual-fund portfolios.

Total asset-based expense ratio:

Class A: 0.09% - 1.48%
Class B (Franklin Money Portfolio):0.09% Class C: 0.09% - 2.23%

Broker loads and commissions:

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Breakpoint pricing:

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Does breakpoint pricing include non-529 assets under rights of accumulation policies

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Taxes and other Benefits

Program match on contributions:

There is no program match, however New Jersey beneficiaries are eligible for a one-time scholarship of up to $1,500 for the first semester at any New Jersey college or university subject to minimum participation and contribution requirements.

State tax deduction or credit for contributions:

None.

State tax treatment of qualified distributions:

Qualified distributions from New Jersey and non-New Jersey 529 plans are exempt.

State tax treatment of rollovers:

New Jersey follows federal tax-free treatment.

Does the sponsoring state exclude the value of an account for state financial aid purposes?

Yes, by state regulation.

Does participation in the program provide beneficiaries with any advantages in qualifying for resident tuition status at state institutions?

No

Does the program have a formal agreement with a rewards program or outside scholarship program?

No

Statutory protection of an account from creditors:

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Distributions & Terminations

To whom are distributions made payable:

Eligible educational institution, beneficiary, or account owner, as directed by the account owner

Account Changes

Policy regarding participant/owner changes:

Accepts requests to change account ownership.

Documents, Access & Reporting

Does participant have online password-protected access to account?

Yes

Can the complete enrollment process including funding be done online?

No

Documents and other services accessible or downloadable on the program's public Web site:

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Contact

Web site:

Click here to visit

Telephone:

1-866-362-1597

Telephone for broker use:

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