Systematic Withdrawal Plan
Systematic Withdrawal Plan (SWIP) basics:
It is important that you work closely with your financial advisor to determine not only the amount you would like withdrawn from your mutual fund account(s) on a scheduled basis, but also which mutual fund account(s) it should be drawn from, and the frequency of the SWIP. An advisor can also help you understand any sales charges or tax implications when selling shares. If you are not currently working with a financial advisor, click here to find a qualified financial advisor in your area.
You and your financial advisor will need to determine the following about your SWIP:
- Amount of the withdrawal
This can be a set dollar amount, a set share amount or a percentage of your total account value
- From which fund(s) should you sell shares
- Withdrawal frequency (monthly, quarterly or annually)
- Date of first withdrawal
- Delivery instructions for the proceeds of each sale You can receive the proceeds via check, or have them electronically transferred to your bank account or directed to purchase shares in another Franklin Templeton account
Each withdrawal is processed automatically according to the details of your plan. Remember that market prices do fluctuate, so if you’re withdrawing a fixed dollar amount, the shares sold per transaction may fluctuate according to market trends.
How to receive proceeds from each sale
Your choices for how to receive the money from each sale is dependent upon on the number of funds you own.
If you own a single fund with us, you can receive the proceeds from your SWIP via check or direct deposit. Your check will usually arrive in 7 to 10 business days from the date it was issued. If you wish to receive your funds sooner, you can have the proceeds deposited directly into a checking or savings account linked to your mutual fund account in as little as two business days. You will not only receive your funds sooner with direct deposit, but it also reduces fund expenses and excess paper waste.
If you have multiple fund accounts with us, you may be able to direct the money from each sale into purchases of additional shares in your other fund account(s). This choice may be appropriate for someone taking required minimum distributions from retirement accounts but still wants the money to keep working as part of an overall investment strategy. Consult your financial advisor to determine if this is appropriate for you.
How to start your plan
You can establish a SWIP online if you’ve registered for online account access at franklintempleton.com. Just sign in and select “Account Options” under the “My Home” tab and click “View.”
If you’re not registered for online account access, simply complete Sections 4, 5 and 6 of the Account Options Form.
If you have questions or need assistance completing the form, please contact Shareholder Services at (800) 632-2301. Customer Service Representatives are available Monday through Friday, from 5:30 a.m. to 5:00 p.m. Pacific Time.
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