General InformationDownload PDF Report

Franklin Templeton 529 College Savings Plan logo

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
  • Inception2003
  • State agency
    New Jersey Higher Education Student Assistance Authority (HESAA)
  • Tax deduction
    Tax deduction for single filers None
    Tax deduction for joint filers None
  • Program Manager
    Franklin Templeton Distributors, Inc.
  • Program distributor
    Franklin Templeton Distributors, Inc.
  • Manager contract termUNLOCK PRO

Ratings & Rankings

Our overall rating for NJ residents

This is an excellent program with many benefits for the participant and positive investment attributes. If it has any significant weaknesses then it also has some particularly good things to recommend it.

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.

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.


1.61out of 5
top-ten

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.

Eligibility

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

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.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 Lookup

UNLOCK PRO

Free Book Download


Get your free copy of Growing your practice with 529 plans.

A practical guide with tips and tools to help financial advisors leverage 529 plans in their practice.

Download family guide

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 policies

UNLOCK PRO

Taxes and other Benefits

  • Tax deduction for single filersNone
  • Tax deduction for joint filersNone

Note

New Jersey doesn't offer tax deductions

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?

Yes, the Upromise Rewards program can be linked to any 529 college savings plan. Upromise Rewards is free to join and offers members cash back for college.

Statutory protection of an account from creditors:

UNLOCK PRO

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:

UNLOCK PRO

Contact

Website:

https://www.franklintempleton.com/investor/products/investment-goals/education-savings/

Telephone:

1-866-362-1597

Telephone for broker use:

UNLOCK PRO

Twitter

@FTI_US

Get expert help finding the right 529 plan


Step 1

Click the blue Find a Pro button to the right

Step 2

Connect with a financial advisor in your local area