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.
- Summary: 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.
- Program type: Savings
- Program manager: Franklin Templeton Distributors, Inc.
- State residency requirements: 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.
- 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 Money 529 Portfolio.
- Underlying investments: Franklin Templeton mutual funds, a Franklin Templeton money market portfolio and possibly ETFs.
- 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 0.31% to 0.81% (portfolio weighted average) in the age-based and objective-based portfolios, and from 0.07% to 0.97% in the individual-fund portfolios.
- Total asset-based expense ratio: Class A: 0.08% - 1.47%
Class B (Franklin Money Portfolio):0.09%
Class C: 0.08% - 2.22%
- 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.
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- Telephone: 1-866-362-1597
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