Tennessee selects Ascensus as program manager for 529, ABLE plans

Tennessee Department of the Treasury, Nashville, plans to hire Ascensus as program manager and record keeper of its $93 million TNStars College Savings 529 plan and $4 million Achieving a Better Life Experience program, said Shelli King, the department's spokeswoman, in an email.

The department, which oversees both plans, issued an RFP in April. Ms. King said the department issued a notice of intent to hire Ascensus but a contract has yet to be signed.

There was no incumbent; the department currently uses software provided by Envision Financial Systems to manage the programs; that contract expires on May 30, 2018.