General InformationDownload PDF Report
Franklin Templeton 529 College Savings Plan
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 money market option. To find a financial advisor in your area, use the Directory of Financial Professionals.
- Program typeSavings
- State agencyNew Jersey Higher Education Student Assistance Authority (HESAA)
- Tax deductionTax deduction for single filers NoneTax deduction for joint filers None
- Program ManagerFranklin Templeton Distributors, Inc.
- Program distributorFranklin Templeton Distributors, Inc.
- Manager contract termUNLOCK PRO
Ratings & Rankings
Our overall rating for non-residents
This is a very good program that offers valuable benefits but may have some limitations or concerns that investors need to know.
Each plan's performance score is developed directly from Savingforcollege.com's Quarterly 529 Performance Rankings. A 529 savings plan must have at least one year of performance history before they will be assigned a 5-cap rating. For those plans that are not part of our quarterly performance rankings, such as plans offering a single set of bank-based investment options, we assign a performance score by evaluating the returns currently available on similar types of investments outside of 529 plans.
State residency requirements:None
Who can be a participant/owner in the program?Individuals of legal age, trusts, corporations, UGMA/UTMA custodians, and other legal entities. Account owners must provide a Taxpayer Identification Number.
Significant time or age restrictions imposed by the program:None
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.
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.View more age-based investment options
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), 8 individual-fund portfolios, and a Franklin U.S. Government Money 529 Portfolio.View more static investment options
Underlying investments:Franklin Templeton mutual funds, a Franklin Templeton money market portfolio and possibly ETFs.View a full list of this plan's investment options
Underlying fund allocations:UNLOCK PRO
Portfolio Fees & Performance LookupUNLOCK PRO
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 Advisor class and Franklin Money Portfolio.
Expenses of the underlying investments:Ranges from 0.45% to 0.78% (portfolio weighted average) in the age-based and objective-based portfolios, and from 0.04% to 0.96% in the individual-fund portfolios.
Total asset-based expense ratio:Class A: 0.35% - 1.46%
Class C: 0.35% - 2.21%
Advisor class: 0.29% - 1.21%
Broker loads and commissions:UNLOCK PRO
Breakpoint pricing:UNLOCK PRO
Does breakpoint pricing include non-529 assets under rights of accumulation policiesUNLOCK PRO
Taxes and other Benefits
- Tax deduction for single filersNone
- Tax deduction for joint filersNone
New Jersey doesn't offer tax deductions