Franklin Templeton Reappointed as Manager of New Jersey's 529 College Savings Plan
Program Extended for Seven Years
SAN MATEO, Calif. – August 15, 2024 – Franklin Templeton has been reappointed as the program manager for New Jersey's 529 college savings plan, NJBEST.
Continued Commitment to New Jersey Families
The reappointment is for seven years, through June 30, 2031. Franklin Templeton has managed the plan since its inception in 1997.
“We are honored to continue our partnership with the State of New Jersey and to help New Jersey families save for their children's higher education,” said David Albano, vice president of Franklin Templeton's 529 investment services division. “We are committed to providing families with the tools and resources they need to achieve their college savings goals.”
NJBEST: A Valuable Savings Tool
NJBEST is a tax-advantaged savings plan that allows New Jersey residents to save for college costs. Earnings grow tax-free, and withdrawals are tax-free when used to pay for qualified higher education expenses.
“NJBEST is a valuable tool for New Jersey families who are saving for college,” said David Hespe, executive director of the New Jersey Higher Education Student Assistance Authority (HESAA). “We are pleased to continue our partnership with Franklin Templeton, which has a proven track record of success in managing 529 plans.”
About Franklin Templeton
Franklin Templeton is a global investment management organization with subsidiaries operating in over 30 countries. The company's mission is to help clients achieve their financial goals by providing a full range of investment solutions.
Franklin Templeton's 529 investment services division offers a variety of 529 college savings plans, each with its own investment options and features. The division also provides personalized advice and support to help families make informed decisions about their college savings.
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