Franklin Templeton Investments Corp. says it will add Series T to 14 funds in its Corporate Class structure on Oct. 1.

The CorPLUS-Series T will offer a monthly distribution based on return of capital, while allowing investors to switch between funds within the structure.

“As your lifestyle changes the closer you get to retirement, it is important to start thinking about tax-efficiency and the flexibility to rebalance your portfolio,” said Jennifer Ball, senior vice president, marketing.

“For baby boomers who are five to 10 years away from retirement, it is crucial for them to get the benefits of tax accrual before they start to redeem from the structure.”

Adding Series T on Franklin Templeton’s corporate class funds will provide investors two major advantages: tax-efficient monthly cash flows through ROC and the flexibility to switch between funds without realizing a taxable event at the time of the switch.