EX-99.M 12B-1 PLAN 7 distributionplan.htm RULE 12B-1 PLAN
ALLSPRING FUNDS TRUST
DISTRIBUTION PLAN
WHEREAS, Allspring Funds Trust (“Trust”) is registered as an open-end management investment company under the Investment Company Act of 1940, as amended (the “1940 Act”); and
WHEREAS, the Trust desires to adopt a Distribution Plan (the “Plan”) pursuant to Rule 12b-1 under the 1940 Act on behalf of the classes of shares of each Fund listed in Appendix A as it may be amended from time to time (each, a “Fund” and, collectively, the “Funds”) and the Board of Trustees, including a majority of the Qualified Trustees (as defined below), has determined that there is a reasonable likelihood that adoption of the Plan will benefit each class of each Fund listed in Appendix A and its shareholders;
NOW THEREFORE, each Fund hereby adopts the Plan on behalf of each class of each Fund listed in Appendix A, in accordance with Rule 12b1 under the 1940 Act, on the following terms and conditions:
Section 1.
The Trust, on behalf of each class of each Fund listed in Appendix A, may pay to the principal underwriter of the Funds (the “Distributor”), as compensation for services or other activities that are primarily intended to result in the sale of shares, or reimbursement for expenses incurred in connection with services or other activities that are primarily intended to result in the sale of shares, a monthly amount that is no higher than the annual rates as set forth on Appendix A.  Subject to such maximum annual rates, the actual amount payable to the Distributor shall be determined from time to time by mutual agreement between the Trust and the Distributor.  The Trust, on behalf of each Fund, may execute and deliver written agreements based substantially on the form attached hereto as Appendix B or on any other form duly approved by the Board (the “Distribution Agreement”) with the Distributor to provide or engage other entities to provide certain distribution-related services.  The Distributor may execute and deliver written, third-party agreements with one or more broker-dealers based substantially on the form duly approved by the Board, attached hereto as Appendix C, (the “Dealer Agreement”) under which such broker-dealers may receive compensation for distribution-related services from the Distributor, including, but not limited to, commissions or other payments to such agents based on the average daily net assets of Fund shares attributable to them.  The Distributor may retain any portion of the amount payable hereunder to compensate it for distribution-related services provided by it or to reimburse it for other distribution-related expenses. The Distributor also may enter into such agreements based on such additional forms of agreements as it deems appropriate, provided that the Distributor determines that the Trust’s and the Funds’ responsibility or liability to any person on account of any acts or statements of any such broker-dealer under any such third-party agreement do not exceed their responsibility or liability under the form(s) approved by the Board of Trustees, and provided further that the Distributor determines that the overall terms of any such third-party agreement are not materially less advantageous to the Trust than the overall terms of the form(s) approved by the Board of Trustees.  In addition, any agreement related to the Plan shall provide:
 
 
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A.
That such agreement may be terminated at any time, without payment of any penalty, by vote of a majority of the Qualified Trustees or by vote of a majority of the outstanding voting securities of such class of such Fund, on not more than 60 days’ written notice to any other party to the agreement; and
B.
That such agreement shall terminate automatically in the event of its assignment.   
Section 2.
The Plan shall be effective with respect to each class of a Fund listed on Appendix A, (or each class of a Fund added to Appendix A from time to time): (a) on the date upon which it is approved for such class (i) by vote of a majority of the Trustees of the Trust, including a majority of the Qualified Trustees, cast in person at a meeting called for the purpose of voting on the approval of the Plan for such class, and (ii) by at least a majority of the outstanding voting securities of the class or Fund, if required; or (b) on the date the class commences operations, if such date is later.  
Section 3.
Unless earlier terminated, the Plan shall continue in effect for a period of one year from its respective effective date and shall continue thereafter for successive annual periods, provided that such Plan is reapproved at least annually by vote of a majority of the Trustees of the Trust, including a majority of the Qualified Trustees, cast in person at a meeting called for the purpose of voting on such reapproval.
Section 4.
So long as the Plan is in effect, the Trust shall provide, or shall cause the Distributor to provide, to the Trust’s Board of Trustees, and the Trustees shall review, at least quarterly, a written report of the amounts expended by the Trust under the Plan and each related agreement and the purposes for which such expenditures were made.  
Section 5.
The Plan may not be amended to increase materially the amount that may be expended by a class of a Fund pursuant to the Plan without the approval by a vote of a majority of the outstanding voting securities of such class of such Fund, and no material amendment to the Plan shall be made unless approved by vote of a majority of both (a) the Trustees of the Trust and (b) the Qualified Trustees, cast in person at a meeting called for the purpose of voting on such approval.  
Section 6.
The Plan may be terminated with respect to any class at any time by vote of a majority of the Qualified Trustees or by vote of a majority of the outstanding voting securities of the class.  
Section 7.
While the Plan is in effect, the selection and nomination of each Trustee who is not an interested person of the Trust shall be committed to the discretion of the Trustees who are not interested persons.  
Section 8.
To the extent any payments made by the Fund pursuant to a Shareholder Servicing Plan and Servicing Agreement are deemed to be payments for the financing of any activity primarily intended to result in the sale of shares within the context of Rule 12b-1 under the 1940 Act, such payments shall be deemed to have been approved pursuant to the Plan.  Notwithstanding anything herein to the contrary, no Fund or class of shares shall be
 
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obligated to make any payments under the Plan that exceed the maximum amounts payable under Rule 2830 of the Conduct Rules of the National Association of Securities Dealers, Inc.  
Section 9.
The Trust shall preserve copies of the Plan, each related agreement and each written report presented to the Trust’s Board of Trustees pursuant to Section 1 hereof, for a period of not less than six years from the date of the Plan, agreement or report, as the case may be, the first two years in an easily accessible place.  
Section 10.
The provisions of the Plan are severable for each class of each Fund listed in Appendix A, and whenever any action is to be taken with respect to the Plan, such action shall be taken separately for each such class affected.  
Section 11.
As used in the Plan, (a) the terms “assignment”, “interested person” and “vote of a majority of the outstanding voting securities” shall have the respective meanings given them in the 1940 Act and the rules and regulations thereunder, subject to such exemption or interpretation as may be provided by the Securities and Exchange Commission or the staff thereof, and (b) the term “Qualified Trustees” shall mean the Trustees of the Trust who (i) are not “interested persons” of the Trust and (ii) have no direct or indirect financial interest in the operation of the Plan or in any agreements related to the Plan.  The agreement(s) between the Trust and its Distributor shall be considered to be agreements related to the Plan.  The agreement(s) between the Distributor and any selling agents shall not be considered to be agreements related to the Plan.
Section 12.
Any question of interpretation of any term or provision of this Agreement having a counterpart in or otherwise derived from a term or provision of the 1940 Act shall be resolved by reference to such terms or provision of the 1940 Act and to interpretations thereof, if any, by the United States Courts or in the absence of any controlling decision of any such court, by rules, regulations or orders of the Commission, interpretations of the Commission or its staff, or Commission staff no-action letters, issued pursuant to the 1940 Act.  In addition, where the effect of a requirement of the 1940 Act reflected in any provision of this Agreement is revised by rule, regulation or order of the Commission, such provision shall be deemed to incorporate the effect of such rule, regulation or order.  The duties and obligations of the parties under this Agreement shall be governed by and construed in accordance with the laws of the State of Delaware to the extent that state law is not preempted by the provisions of any law of the United States heretofore or hereafter enacted.
 
Amended:  December 16, 2021
 
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APPENDIX A
 
DISTRIBUTION PLAN
ALLSPRING FUNDS TRUST
 
Funds Trust
Funds and Share Classes
Maximum
Rule 12b-1 Fee
Absolute Return Fund
Class C
Class R
 
0.75
0.25
Adjustable Rate Government Fund
Class C
 
0.75
Asset Allocation Fund
Class C
Class R
 
0.75
0.25
C&B Large Cap Value Fund
Class C
 
0.75
C&B Mid Cap Value Fund
Class C
 
0.75
California Limited-Term Tax-Free Fund
Class C
 
0.75
California Tax-Free Fund
Class C
 
0.75
Common Stock Fund
              Class C
 
0.75
Core Bond Fund
Class C
Class R
 
0.75
0.25
Core Plus Bond Fund
Class C
 
0.75
Disciplined U.S. Core Fund
Class C
Class R
 
0.75
0.25
Discovery All Cap Growth Fund
Class C
Class R
 
0.75
0.25
Discovery Large Cap Growth Fund
Class C
 
0.75
Discovery Mid Cap Growth Fund
Class C
 
0.75
Discovery Small Cap Growth Fund
Class C
 
0.75
Discovery SMID Cap Growth Fund
Class C
 
0.75
Diversified Capital Builder Fund
Class C
 
0.75
Diversified Income Builder Fund
Class C
 
0.75
Dynamic Target Today Fund
Class C
 
0.75
Dynamic Target 2015 Fund
Class C
 
0.75
Dynamic Target 2020 Fund
Class C
 
0.75
Dynamic Target 2025 Fund
Class C
 
0.75
Dynamic Target 2030 Fund
Class C
 
0.75
Dynamic Target 2035 Fund
Class C
 
0.75
Dynamic Target 2040 Fund
Class C
 
0.75
Dynamic Target 2045 Fund
Class C
 
0.75
Dynamic Target 2050 Fund
Class C
 
0.75
Dynamic Target 2055 Fund
Class C
 
0.75
Dynamic Target 2060 Fund
Class C
 
0.75
Dynamic Target 2065 Fund1
Class C
 
0.75
Emerging Growth Fund
Class C
 
0.75
Emerging Markets Equity Fund
Class C
 
0.75
Emerging Markets Equity Income Fund
Class C
Class R
 
0.75
0.25
Global Investment Grade Credit Fund
Class C
 
0.75
Government Money Market Fund
Sweep Class
 
0.10
Government Securities Fund
              Class C
 
0.75
Growth Balanced Fund
 
Class C
 
0.75
Growth Fund
              Class C
 
0.75
High Yield Bond Fund
Class C
 
0.75
High Yield Municipal Bond Fund
Class C
 
0.75
Income Plus Fund
Class C
 
0.75
Index Asset Allocation Fund
Class C
 
0.75
Index Fund
Class C
 
0.75
Intermediate Tax/AMT-Free Fund
Class C
 
0.75
International Bond Fund
Class C
 
0.75
International Equity Fund
              Class C
Class R
 
0.75
0.25
Large Cap Core Fund
Class C
Class R
 
0.75
0.25
Large Cap Growth Fund
Class C
Class R
 
0.75
0.25
Large Company Value Fund
Class C
 
0.75
Minnesota Tax-Free Fund
Class C
 
0.75
Moderate Balanced Fund
 
Class C

0.75
Money Market Fund
Class C
 
0.75
Municipal Bond Fund
              Class C
 
0.75
Municipal Sustainability Fund
Class C
 
0.75
Opportunity Fund
Class C
 
0.75
Pennsylvania Tax-Free Fund
Class C
 
0.75
Precious Metals Fund
Class C
 
0.75
Premier Large Company Growth Fund
Class C
 
0.75
Real Return Fund
Class C
 
0.75
Short Duration Government Bond Fund
Class C
 
0.75
Short-Term Bond Plus Fund
Class C

0.75
Short-Term High Yield Bond Fund
Class C

0.75
Short-Term Municipal Bond Fund
               Class C

0.75
Small Cap Fund
Class C

0.75
Small Company Growth Fund
Class C
 
0.75
Small Company Value Fund
Class C
 
0.75
Special Global Small Cap Fund
Class C
 
0.75
Special International Small Cap Fund
Class C
 
0.75
Special Large Cap Value Fund
Class C
Class R
 
0.75
0.25
Special Mid Cap Value Fund
Class C
Class R
 
0.75
0.25
Special Small Cap Value Fund
Class C
Class R
 
0.75
0.25
Specialized Technology Fund2
Class C
 
0.75
Spectrum Aggressive Growth Fund
Class C
 
0.75
Spectrum Conservative Growth Fund
Class C
 
0.75
Spectrum Growth Fund
Class C
 
0.75
Spectrum Income Allocation Fund
Class C
 
0.75
Spectrum Moderate Growth Fund
Class C
 
0.75
Strategic Municipal Bond Fund
Class C
 
0.75
Target Today Fund3
Class C
Class R
 
0.75
0.25
Target 2010 Fund4
Class C
Class R
 
0.75
0.25
Target 2015 Fund5
Class R
 
0.25
Target 2020 Fund6
Class C
Class R
 
0.75
0.25
Target 2025 Fund7
Class R
 
0.25
Target 2030 Fund8
Class C
Class R
 
0.75
0.25
Target 2035 Fund9
Class R
 
0.25
Target 2040 Fund10
Class C
Class R
 
0.75
0.25
Target 2045 Fund11
Class R
 
0.25
Target 2050 Fund12
Class C
Class R
 
0.75
0.25
Target 2055 Fund13
Class R
 
0.25
Target 2060 Fund14
Class C
Class R
 
0.75
0.25
Ultra Short-Term Income Fund
Class C
 
0.75
Ultra Short-Term Municipal Income Fund
Class C
 
0.75
Utility and Telecommunications Fund
Class C
 
0.75
Wisconsin Tax-Free Fund
              Class C

0.75
100% Treasury Money Market Fund
Sweep Class
 
0.10
 
Appendix A amended:  June 29, 2022
 
 
1  On May 24, 2022 the Board of Trustees of Allspring Funds Trust approved the establishment and launch of the Allspring Dynamic Target 2065 Fund, effective on or about September 13, 2022.
10 On May 24, 2022 the Board of Trustees of Allspring Funds Trust approved the reorganization of the Allspring Target 2040 Fund into the Allspring Dynamic Target 2040 Fund, effective on or about August 26, 2022.
11 On May 24, 2022 the Board of Trustees of Allspring Funds Trust approved the reorganization of the Allspring Target 2045 Fund into the Allspring Dynamic Target 2045 Fund, effective on or about August 26, 2022.
12 On May 24, 2022 the Board of Trustees of Allspring Funds Trust approved the reorganization of the Allspring Target 2050 Fund into the Allspring Dynamic Target 2050 Fund, effective on or about August 26, 2022.
13 On May 24, 2022 the Board of Trustees of Allspring Funds Trust approved the reorganization of the Allspring Target 2055 Fund into the Allspring Dynamic Target 2055 Fund, effective on or about August 26, 2022. 
14 On May 24, 2022 the Board of Trustees of Allspring Funds Trust approved the reorganization of the Allspring Target 2060 Fund into the Allspring Dynamic Target 2060 Fund, effective on or about August 26, 2022.
2  On June 29, 2022 the Board of Trustees of Allspring Funds Trust approved a name change to the Allspring Specialized Technology Fund to the Allspring Discovery Innovation Fund effective on or about September 6, 2022.
3  On May 24, 2022 the Board of Trustees of Allspring Funds Trust approved the reorganization of the Allspring Target Today Fund into the Allspring Dynamic Target Today Fund, effective on or about August 26, 2022.
4  On May 24, 2022 the Board of Trustees of Allspring Funds Trust approved the reorganization of the Allspring Target 2010 Fund into the Allspring Dynamic Target Today Fund, effective on or about August 26, 2022.
5  On May 24, 2022 the Board of Trustees of Allspring Funds Trust approved the reorganization of the Allspring Target 2015 Fund into the Allspring Dynamic Target 2015 Fund, effective on or about August 26, 2022.
6  On May 24, 2022 the Board of Trustees of Allspring Funds Trust approved the reorganization of the Allspring Target 2020 Fund into the Allspring Dynamic Target 2020 Fund, effective on or about August 26, 2022.
7   On May 24, 2022 the Board of Trustees of Allspring Funds Trust approved the reorganization of the Allspring Target 2025 Fund into the Allspring Dynamic Target 2025 Fund, effective on or about August 26, 2022.
8  On May 24, 2022 the Board of Trustees of Allspring Funds Trust approved the reorganization of the Allspring Target 2030 Fund into the Allspring Dynamic Target 2030 Fund, effective on or about August 26, 2022.
9  On May 24, 2022 the Board of Trustees of Allspring Funds Trust approved the reorganization of the Allspring Target 2035 Fund into the Allspring Dynamic Target 2035 Fund, effective on or about August 26, 2022
 
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