Click here to close now.

Welcome!

News Feed Item

Franklin Templeton Investments Selected by New Jersey Higher Education Student Assistance Authority to Continue as Program Manager for New Jersey College Savings Plans

Accounts Established for Over 158,000 New Jersey Beneficiaries to Save for Higher Education Costs to Date

TRENTON, NJ and SAN MATEO, CA -- (Marketwired) -- 02/20/14 -- The New Jersey Higher Education Student Assistance Authority (HESAA) and Franklin Templeton Investments today announced that Franklin Templeton has been selected to continue as the program manager for NJBEST, the 529 college savings plan offered solely to New Jersey residents, and Franklin Templeton 529 College Savings Plan,(1) offered to investors nationwide. Together, the plans exceed $4 billion in assets under management.

"HESAA is very pleased to continue our partnership with Franklin Templeton as program manager for our 529 college savings program. Together, we are dedicated to helping New Jersey families' with their continued interest in and commitment to college savings. To date, NJBEST and Franklin Templeton 529 College Savings Plan accounts have been established for more than 158,000 New Jersey beneficiaries. Special features, including flexible investment options and the scholarship opportunity, continue to drive the plans' popularity," said Gabrielle Charette, Executive Director of HESAA.

Offered by the New Jersey HESAA, with Franklin Templeton Distributors, Inc. serving as the program manager since 2003, the plans offer low minimum initial contributions of $25 for NJBEST and $50 for Franklin Templeton 529 College Savings Plan, and provide an affordable way for families in New Jersey and across the nation to save for college expenses through a variety of investment strategies that can be tailored to their specific needs.

"I would encourage individuals and families who plan to start saving for college to compare the overall value, features and performance of NJBEST and Franklin Templeton 529 College Savings Plan to that of other plans. The number of NJBEST and Franklin Templeton 529 College Savings Plan accounts has increased dramatically since we first associated with Franklin Templeton in 2003," said Gene Hutchins, Chief Financial Officer at HESAA. "Ten years later we have seen more than 82,000 promising New Jersey students access the funds necessary to make their higher education a reality, with more than $1 billion in total distributions to date."

NJBEST and Franklin Templeton 529 College Savings Plan investors can choose from objective-based or age-based asset allocations to structure plans to suit their needs and risk tolerance, or with Franklin Templeton 529 College Savings Plan, they can work with a financial advisor to customize an asset allocation mix that suits their specific college investing goals. Franklin Templeton's funds can be used to build truly diversified portfolios because the Franklin Templeton investment management groups -- Franklin, Templeton and Mutual Series -- work independently, adhere to different investment approaches and manage distinct portfolios.

Roger Michaud, Senior Vice President of Franklin Templeton Distributors, said, "We are excited about our continued relationship with New Jersey. We are committed to helping families save for the increasing costs of higher education by providing a college saving program that provides New Jersey families good value, strong investment capabilities and performance, and outstanding service and support. For the past decade, our successful collaboration with the State of New Jersey has allowed us to offer 529 college savings plans to investors nationwide. As interest in our 529 plans continues to flourish, we look forward to bringing the breadth and perspective of Franklin Templeton's professional investment management expertise to college savers across the country."(2)

Of note, Savingforcollege.com ranked the New Jersey plans among the top three in the nation for one-year performance as of December 31, 2013.(3)

New Jersey residents interested in the NJBEST 529 College Savings Plan may visit NJBEST.com. For more information on the Franklin Templeton 529 College Savings Plan, please visit franklintempleton.com.

Investors should carefully consider 529 Plan and/or mutual fund investment goals, risks, charges and expenses before investing. To obtain the Investor Handbook or mutual fund prospectuses, which contain this and other information, talk to your financial advisor or call Franklin Templeton Distributors, Inc., the manager and underwriter for the Plan at (866) 362-1597. You should read the Investor Handbook and/or mutual fund prospectuses carefully before investing and consider whether your, or the beneficiary's, home state offers any state tax or other benefits that are only available for investments in its qualified tuition program.

Each plan account is currently subject to an annual program management fee of 0.20% for the direct plan and 0.40% for the advisor-sold plan of assets and underlying fund expenses, currently up to 0.84% of assets, which may vary. See the Investor Handbook for more complete information.

New Jersey Higher Education Student Assistance Authority's (HESAA) mission is to provide students and families with the financial and informational resources for students to pursue their education beyond high school. For more information about NJBEST and other education programs offered through the State of New Jersey, contact 1-800-792-8670 or visit hesaa.org.

Franklin Templeton Distributors, Inc., is a wholly owned subsidiary of Franklin Resources, Inc. (NYSE: BEN), a global investment management organization operating as Franklin Templeton Investments. Franklin Templeton Investments provides global and domestic investment management solutions managed by its Franklin, Templeton, Mutual Series, Bissett, Fiduciary Trust, Darby, Balanced Equity Management and K2 investment teams. The San Mateo, CA-based company has more than 65 years of investment experience and over $857 billion in assets under management as of January 31, 2014. For more information, please call 1-800/DIAL BEN® or visit franklintempleton.com.

Connect with Franklin Templeton on Twitter (@FTI_US), Facebook and YouTube (FranklinTempletonTV).

1. Offered and administered by the New Jersey Higher Education Student Assistance Authority (HESAA); managed and distributed by Franklin Templeton Distributors, Inc. No federal or state guarantee. Principal value may be lost, and investing in the plan does not guarantee admission to college or sufficient funds for college. Please refer to the Investor Handbook for more complete information.

2. The plan is managed by Franklin Advisers, Inc., an affiliate of Franklin Templeton Distributors, Inc. Plan portfolios generally invest in mutual funds managed by affiliates of Franklin Advisers, Inc. An investment in Franklin Templeton 529 College Savings Plan is an investment in a municipal security that may invest in one or more underlying mutual funds. It is not an investment in shares of the underlying mutual fund(s).

3. Source: Savingforcollege.com, as of December 31, 2013. Rankings of #2 for NJBEST and #3 for Franklin Templeton 529 College Savings Plan are based on a universe of 55 direct and 30 advisor-sold plans, respectively, for Class A share performance (including maximum sales charges and fees).

Copyright © 2014. Franklin Templeton Investments. All rights reserved.

Contact:
Franklin Templeton Investments
Corporate Communications:
Stacey Coleman
(650) 525-7458
franklintempleton.com

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
While DevOps most critically and famously fosters collaboration, communication, and integration through cultural change, culture is more of an output than an input. In order to actively drive cultural evolution, organizations must make substantial organizational and process changes, and adopt new technologies, to encourage a DevOps culture. Moderated by Andi Mann, panelists discussed how to balance these three pillars of DevOps, where to focus attention (and resources), where organizations migh...
Containers have changed the mind of IT in DevOps. They enable developers to work with dev, test, stage and production environments identically. Containers provide the right abstraction for microservices and many cloud platforms have integrated them into deployment pipelines. DevOps and Containers together help companies to achieve their business goals faster and more effectively. In his session at DevOps Summit, Ruslan Synytsky, CEO and Co-founder of Jelastic, reviewed the current landscape of...
SYS-CON Events announced today that Alert Logic, the leading provider of Security-as-a-Service solutions for the cloud, has been named “Bronze Sponsor” of SYS-CON's 17th International Cloud Expo® and DevOps Summit 2015 Silicon Valley, which will take place November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Alert Logic provides Security-as-a-Service for on-premises, cloud, and hybrid IT infrastructures, delivering deep security insight and continuous protection for cust...
The 4th International Internet of @ThingsExpo, co-located with the 17th International Cloud Expo - to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA - announces that its Call for Papers is open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than
Agile, which started in the development organization, has gradually expanded into other areas downstream - namely IT and Operations. Teams – then teams of teams – have streamlined processes, improved feedback loops and driven a much faster pace into IT departments which have had profound effects on the entire organization. In his session at DevOps Summit, Anders Wallgren, Chief Technology Officer of Electric Cloud, will discuss how DevOps and Continuous Delivery have emerged to help connect dev...
The 17th International Cloud Expo has announced that its Call for Papers is open. 17th International Cloud Expo, to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, APM, APIs, Microservices, Security, Big Data, Internet of Things, DevOps and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding bu...
SYS-CON Events announced today that Harbinger Systems will exhibit at SYS-CON's 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Harbinger Systems is a global company providing software technology services. Since 1990, Harbinger has developed a strong customer base worldwide. Its customers include software product companies ranging from hi-tech start-ups in Silicon Valley to leading product companies in the US a...
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at @ThingsExpo, James Kirkland, Red Hat's Chief Arch...
The 5th International DevOps Summit, co-located with 17th International Cloud Expo – being held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the ...
SYS-CON Events announced today that Secure Infrastructure & Services will exhibit at SYS-CON's 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Secure Infrastructure & Services (SIAS) is a managed services provider of cloud computing solutions for the IBM Power Systems market. The company helps mid-market firms built on IBM hardware platforms to deploy new levels of reliable and cost-effective computing and hig...
DevOps Summit, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long development...
To many people, IoT is a buzzword whose value is not understood. Many people think IoT is all about wearables and home automation. In his session at @ThingsExpo, Mike Kavis, Vice President & Principal Cloud Architect at Cloud Technology Partners, discussed some incredible game-changing use cases and how they are transforming industries like agriculture, manufacturing, health care, and smart cities. He will discuss cool technologies like smart dust, robotics, smart labels, and much more. Prepare...
SYS-CON Events announced today that ProfitBricks, the provider of painless cloud infrastructure, will exhibit at SYS-CON's 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. ProfitBricks is the IaaS provider that offers a painless cloud experience for all IT users, with no learning curve. ProfitBricks boasts flexible cloud servers and networking, an integrated Data Center Designer tool for visual control over the...
The cloud has transformed how we think about software quality. Instead of preventing failures, we must focus on automatic recovery from failure. In other words, resilience trumps traditional quality measures. Continuous delivery models further squeeze traditional notions of quality. Remember the venerable project management Iron Triangle? Among time, scope, and cost, you can only fix two or quality will suffer. Only in today's DevOps world, continuous testing, integration, and deployment upend...
SYS-CON Events announced today that MangoApps will exhibit at SYS-CON's 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. MangoApps provides private all-in-one social intranets allowing workers to securely collaborate from anywhere in the world and from any device. Social, mobile, and easy to use. MangoApps has been named a "Market Leader" by Ovum Research and a "Cool Vendor" by Gartner. 20,000+ business custome...