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NJ Franklin Templeton 529 |
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State Provider: New Jersey; Net Assets ($mil):
$1,368.9 as of
10-31-09 |
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New Jersey residents can't deduct annual contributions from state taxes, so they don't have much of a home-court advantage here or at the state's direct-sold plan. The state does offer $500 to $1500 in scholarships if the beneficiary or contributor is a state resident at the time of enrollment, but only to those who attend college in New Jersey (qualifying accounts must be open at least four years and contributions must equal at least $1200). The investment options have reasonable flexibility and strong underlying mutual funds from Franklin Templeton, but the plan's expenses aren't competitive. Costs for the age-based plan range from 1.29% to 1.47% of assets annually, in addition to broker charges and an annual $25 maintenance fee. That makes the plan considerably more expensive than a number of other plans across the country. Because a fair number of residents won't benefit from the scholarship program anyway, given the enrollment and residency restrictions, we can't see much reason to stay in-state. Meanwhile, nonresidents can certainly cheaper, more-appealing plans elsewhere.(Information as of 03/06/2009) |
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| Availability: Sales Channel |
Resident: Broker
Non-Resident: Broker
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| Annual State Tax Deduction |
| Max Investment/Beneficiary |
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$305,000 |
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(includes appreciation)
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| Mos. to Qualified Withdrawal |
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Public, Private & International
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Age-Based Portfolios
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| Static Portfolios and Self-Directed Funds |
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| US Stock
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Bond |
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| Total International Funds: 48 |
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| Underlying Funds’ Ratings |
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| Overall Morningstar Rating |
# Equity
Funds |
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# Bond
Funds |
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| Ratings as of
10-31-09 |
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| Range |
0.00
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4.4 |
| 529 Plan Avg |
0.8 |
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| Portfolio Expense Ratio Range |
| Fee to Change Beneficiary |
| Share Classes: Sales Charge |
| A:
4.25 – 5.75% (front-load) |
| B:
4% (deferred-load) |
| C:
1% (deferred-load) |
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| Initial Purchase |
$250 |
$250 |
| Additional Purchase |
50 |
50 |
| Initial (AIP) |
50 |
50 |
| Additional (AIP) |
50 |
50 |
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