Systematic Withdrawal Plan
A systematic withdrawal plan lets you sell fund shares according to a regular schedule of your choosing. It’s a convenient way to withdraw a fixed amount of income from your mutual fund account(s) over time.
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It is important that you work closely with your financial advisor to determine not only the amount you would like withdrawn from your mutual fund
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, 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 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 three business days. You will not only receive your funds sooner with direct deposit, but it also reduces fund expenses and excess paper waste. Please see the Electronic Funds Transfer section for more information on how to add banking information to your account.
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
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 want to have the proceeds from your SWIP directed to a bank account but do not currently have a bank account linked to your fund account, you will need to complete the Account Options Form.
If you’re not registered for online account access and/or need to add a bank account to your fund account, simply complete the applicable sections 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.
For US residents only.