Franklin Templeton 529 Available Nationwide

March 17, 2003 ( - Investors trying to save for college now have another 529 Plan option to consider.

Although the state of New Jersey sponsors the Franklin Templeton 529 College Savings Plan, the educational savings program is available to investors in any state, according to a Franklin Templeton Investments announcement.

The plan allows investors to choose from a risk-adjusted allocation, an age-based allocation or an individual portfolio. The four risk-adjusted portfolios have different risk/reward characteristics, allowing an investor to choose the portfolio that best suits his or her investment needs and risk tolerance level, the announcement said.

The age-based allocation option automatically reallocates a percentage of plan assets out of equity-based funds and into more conservative, income seeking funds as a child gets older. Individual portfolios are available for investors who prefer to work with their financial advisor to customize an asset allocation mix that suits their college investing goals. There are 12 individual portfolios available.

529 plans offer tax-deferred growth and federal income tax-free qualified withdrawals through December 31, 2010.