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529 PLANS

NJBEST 529 College Savings Plan

New Jersey

New Jersey's NJBEST 529 College Savings Plan is managed by Franklin Templeton and features age-based and static portfolio options utilizing Franklin Templeton and JPMorgan funds along with a stable value option.

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
2.76	3.42	3.47	4.20	0.40

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Access enrollment materials and open an account with NJBEST 529 College Savings Plan in just a few easy steps.

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General

Did you know?

Residents are not limited to investing in their own state's plan. Another state may offer a plan that performs better and has lower fees. If there is no tax break offered for in-state investors ... shop around!

Also, the plan chosen does not affect which state the student enrolls in. An investor can live in NY, invest in a plan from NV and send a student to college in FL.

Research other state plans
or
Compare between state plans

Program type:

Savings

Telephone:

1-877-4NJBEST (1-877-465-2378)

Web site:

Click here to visit

How to enroll:

Enroll directly with the program.

Initial year of operation:

1998

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:

Premium subscription required for this data.

Eligibility

State residency requirements:

The contributor or the beneficiary must be a New Jersey resident at the time of program enrollment.

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:

$25 per investment option.

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 4 multi-fund portfolios (Growth, Corefolio, Growth & Income, and Income), S&P 500 Index portfolio, and a stable value portfolio.

Underlying investments:

Franklin Templeton mutual funds, a S&P 500 index fund managed by JPMorgan, and a Franklin Templeton stable value portfolio.

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.

Account maintenance fee:

None.

Program management fees:

0.20% manager fee

Expenses of the underlying investments:

Ranges from 0.12% to 0.85% (portfolio weighted average) in the age-based and objective-based portfolios, and from 0.20% to 0.35% in the individual-fund portfolios.