Franklin Templeton 529 Investment Changes

What's new

Starting on or after November 18, 2024, here are the key changes coming to Franklin Templeton 529:

New target enrollment year investment options
Additional changes to investment option lineup
New and improved online account management

Expanded gifting capabilities
New payroll direct deposit process
Electronic distributions to over 800 educational institutions

See key changes below for additional details.

What you need to do

Be sure to read this information carefully, including recent Program Description supplements available at franklintempleton.com or contact us at (866) 362-1597. Please be aware that during the transition there will be a period when you will be unable to view your account activity or transact on your accounts. Refer to Important Dates below for more details.

Re-establish your online account access

You must re-establish your online account access by creating a new username and password after the transition is complete on or after November 18, 2024 in order to continue accessing and managing your accounts online.

1. Visit franklintempleton529.com on or after November 18, 2024, click Log In, and enter the required details to establish access:

Social security number
Date of birth
Zip code

2. Review and reconfirm your document delivery preferences.

3. Establish your investment allocation percentages for future contributions. Otherwise, your investment allocations will be set according to the percent of the market value of each investment at the time of conversion. If your balance is currently at zero, the allocation percentage is split evenly among the Portfolios you selected at enrollment. You can set or update investment allocation percentages at any time after the conversion by logging into your account at www.franklintempleton529.com.

If you haven’t previously established online access, we encourage you to do so after the transition to take advantage of easy account access and management.

Make note of your new account number

After the transition is complete on or after November 18, 2024, you will receive a new account number by mail or electronic delivery, depending on your current preference.

Rather than different account numbers for each portfolio beneficiary, your new account number will be 11 digits. The first nine digits, beginning with B2, is your main account number. It is followed by a two-digit extension distinguishing each beneficiary. If you have only one beneficiary the extension is 01, for each of your subsequent beneficiaries 02, 03, etc.

Review your account and ongoing contributions

Your account information, including account history, account preferences and investment selections, will automatically transition to the new recordkeeper.

Recurring contributions: If you currently have an automatic investment plan, those recurring contributions will carry over to the new platform. Please ensure you establish your investment allocation percentages for future contributions, which will apply to any future recurring contributions. This can be done after November 18, 2024, online or by calling (866) 362-1597. Otherwise, investment allocations will be set according to the percent of the market value of each investment at the time of conversion.
Payroll direct deposit: If you contribute using a payroll direct deposit, the new recordkeeper will send you a letter prior to the start of the blackout period with directions on how to update your deposit instructions. Note: payroll contribution instructions should be updated with your employer by November 12, 2024, to avoid any disruption.
Bill pay: If you currently make contributions through bill pay via your bank, you will need to update the payment instructions with your new Franklin Templeton 529 account number and address:P.O. Box 55961, Boston, MA 02205.
Deposit slips: Destroy any Franklin Templeton 529 deposit slips you may have. New deposit slips will be provided.

Key changes

What is staying the same?

Higher Education Student Assistance Authority (HESAA) as the Plan Sponsor.
The Plan will continue to be managed and distributed by Franklin Distributors, LLC.
Our phone number: (866) 362-1597
Your current delivery preferences for statements and tax forms.

New address

Regular Mail:
Franklin Templeton 529 College Savings Plan
P.O. BOX 55961
Boston, MA 02205

Overnight:
Franklin Templeton 529 College Savings Plan
95 Wells Ave
Suite 160
Newton, MA 02459

New fax

(617) 559-8936

Improved online experience

We are updating the online features to facilitate efficient management of your account while providing you with advanced tools to accomplish your goals. Enjoy streamlined account management with upgraded features at franklintempleton529.com, on or after November 18, 2024.

Consolidation of multiple accounts

All assets for the same account owner/beneficiary will be held within one account. Account owners should check their future allocations following the transition to ensure future contributions into their account will be invested in the portfolio(s) that the account owner intends. You may change your future allocations at any time by logging into your account or using the appropriate form.

Expanded gifting capabilities

Ugift® is an easy, free-to-use service that lets 529 plan account owners encourage family and friends to celebrate children’s milestones with the gift of college savings. A personalized Ugift code will be available for each beneficiary through online account access which can be shared with others and used to contribute at Ugift529.com. Ugift® offers the option for gift givers to create a profile allowing them to save their banking information and frequently used Ugift® codes, view their gift history, and even set up recurring gifts. Ugift® will replace the existing Spryng® gifting platform.¹

New payroll direct deposit process

If you contribute using a payroll direct deposit, the new recordkeeper will send you a letter prior to the start of the blackout period with directions on how to update your deposit instructions. Note: payroll contribution instructions should be updated with your employer by November 12, 2024, to avoid any disruption.

Electronic distributions to over 800 educational institutions

Easily and securely make electronic payments directly to eligible schools online.

Important dates

Below please find an overview of important dates as it pertains to your accounts, access, and the transition:

Prior to Tuesday November 12, 2024

Your Franklin Templeton 529 account will remain the same. Please contact your financial professional if you have questions about changes to your account. Franklin Templeton and Ascensus will be diligently working on enhancing your online experience and client service.

Tuesday - Sunday November 12-17, 2024

Beginning on Tuesday, November 12th/4:00 p.m. ET, online account access will be suspended, and no trading in your account will take place. Paper trading instructions received by mail during this period will be forwarded to the Plan’s new P.O. Box address and will be processed following receipt in good order.

On or after Monday, November 18, 2024

Your account assets in the Franklin Templeton 529 Plan will automatically transition to the new investment options as discussed. When accessing your online account on or after November 18, 2024, you will need to re-establish your username and password on the new platform.

Investment changes

We want to make this transition as seamless as possible. Your account information and records will be automatically moved to the new platform.

Your current Franklin Templeton 529 account assets will be transferred over to the new recordkeeping system and into your new portfolio(s) where applicable, into new portfolios(s) that we believe closely match your existing investment selection and asset allocation. You are not required to take any action. After the transition, you will have the ability to change your investment option if you have not already performed two investment exchanges within 2024, per federal 529 plan guidelines. This transition will not be considered one of the two annual investment exchanges.

Please refer to the following charts to determine changes to your investment options, if applicable.

Target enrollment year portfolios

Predecessor Age Based Growth Allocation Portfolio

Newborn-4 years