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Plan	NEW JERSEY Franklin Templeton 529 College Savings Plan Learn more →
Summary	New Jersey Franklin Templeton 529 Education Savings Plan is a 529 savings program, available nationally, managed by Franklin Templeton featuring year of enrollment and static portfolio options utilizing mutual funds, ETFs, and/or institutional separate accounts ("ISAs"), along with a money market option.
Program type	Savings
How to enroll	Enroll through a financial advisor, or directly by completing an application.
Initial year of operation	2003
State agency(ies)	New Jersey Higher Education Student Assistance Authority (HESAA)
Program manager	Franklin Distributors, Inc.
Program distributor	Franklin Distributors, Inc.
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.
Policy regarding participant/owner changes	Accepts requests to change account ownership.
Website	Click here to visit
Maximum contributions	Accepts contributions until all account balances in New Jersey's 529 plans for the same beneficiary reach $305,000.
Minimum contributions	$250, or $25 if you choose automatic monthly investing. A Financial Intermediary may impose other minimum initial or ongoing contribution requirements.
Does the program offer an e-gifting platform for receiving gift contributions?	This plan offers the ability to share a gift contribution code with family and friends. Ugift is an online gifting tool designed to encourage family and friends to make contributions toward an education savings plan.
Age-based/Enrollment Year investment options	The Year of Enrollment option contains portfolios of underlying institutional separate accounts ("ISAs"), ETF, and Mutual funds invest in primarily in Franklin Templeton strategies. Contributions can be invested into the portfolio corresponding to the anticipated year of enrollment and reassigned to the Enrolled Portfolio upon reaching that year.
Static investment options	Choose from 3 multi-asset objective based portfolios or 12 individual-fund portfolios, including ESG (Environmental Social Governance) and MWBE (Minority-owned, Women-owned, Business Enterprise) options.
Underlying investments	Franklin Templeton funds, affiliate funds (ClearBridge Investments, LLC, Martin Currie Investment Management Limited, Putnam Investments), Ariel Fund, iShares, Schwab, and Vanguard.
State tax benefit	The New Jersey College Affordability Act allows for a state tax deduction for contributions into a Franklin Templeton 529 College Savings Plan of up to $10,000 per year, for those with gross income of $200,000 or less, beginning with contributions made in tax year 2022. The maximum deduction is $10,000. Because each investor's circumstances are different, please consult your tax professional for more information about considerations that may be relevant to your particular situation.
State definition of qualified expenses	The state conforms with the federal definition of qualified education expenses, which includes expenses for higher education, apprenticeship programs, interest and/or principal on qualified education loans up to a $10,000 lifetime cap, and up to $10,000 per year in tuition in connection with enrollment or attendance at an elementary or secondary public, private, or religious school. Distributions from a 529 account directly to a Roth IRA are considered a qualified expense for state income tax purposes.
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.
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% (Class C); none for Advisor class and Franklin Money Portfolio.
Expenses of the underlying investments	0.15-.17% (portfolio weighted average) in the year of enrollment and objective-based portfolios, and from 0.03% to 0.71% in the individual-fund portfolios.
Total asset-based expenses	Class A: 0.17% - 1.21% Class C: 0.17% - 1.96% Advisor class: 0.28% - 0.96%

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NEW JERSEY

Franklin Templeton 529 College Savings Plan

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Compare 529 Plans

Summary

Program type

How to enroll

Initial year of operation

State agency(ies)

Program manager

Program distributor

State residency requirements

Who can be a participant/owner in the program?

Policy regarding participant/owner changes

Website

Maximum contributions

Minimum contributions

Does the program offer an e-gifting platform for receiving gift contributions?

Age-based/Enrollment Year investment options

Static investment options

Underlying investments

State tax benefit

State definition of qualified expenses

State tax treatment of qualified distributions

State tax treatment of rollovers

Enrollment or application fee

Account maintenance fee

Program management fees

Expenses of the underlying investments

Total asset-based expenses