Franklin Templeton 529 College Savings Plan
The Franklin Templeton 529 College Savings Plan is a 529 plan available in New Jersey that provides families with a comprehensive solution for saving for higher education expenses. One unique aspect of this plan is its partnership with Franklin Templeton Investments, a renowned global investment management firm. The plan offers a range of investment options, including age-based portfolios and individual fund options, allowing account holders to tailor their investments based on their preferences and risk tolerance. It offers tax advantages, such as tax-free growth and tax-free withdrawals for qualified education expenses. New Jersey residents may also be eligible for a state income tax deduction for contributions made to the plan, further maximizing the potential for savings.
EnrollState Tax Incentive
$10,000 for individuals taxpayers with gross income of $200,000 or less $20,000 for joint accounts taxpayers with gross income of $200,000 or less
Program Manager
Franklin Distributors, Inc.
Investment Manager(s)
Vanguard, Schwab, iShares
Plan type
Advisor
Investments
Guided Investments
age-based
ESG Investments
No
Avg. expense fee
0.700%
Fee Range
0.28%-1.00%
Ratings
Backer Rating
Our rating is based on fees and tax savings advantages.
43%
for NJ residents
25%
non-residents
Saving For College
Unbiased, independent resource for parents.
5
for NJ residents
4
non-residents
Other
Connect with Mint.com
Track your finances in one place.
No
Connect with Backer
Full end to end enrollment, gifting and plan management.
Gifting Only
Mobile app
Backer App covers this plan.
No
Plan in the news?
Check out latest news about this plan.
General Recommendation
This is an advisor sold 529 plan, rated as negative by Morningstar.
