New Jersey Higher Education Student Assistance Authority, Trenton, rehired Franklin Templeton Investments as investment manager of the state’s 529 college savings plan, New Jersey Better Educational Savings Trust, confirmed spokeswoman Linda Nasta.
Franklin Templeton has provided the services for the $3.7 billion plan since 2003. It provides investment management for the investment options, record keeping, administration, custodial banking and education, among other responsibilities.
The 529 plan has seven stand-alone investment options, five objective-based options and a series of growth, conservative and moderate age-based funds.
An RFP was issued in November.